Course Description

Seat Time: 2hrs - Desc:

This course will introduce the learner to the important aspects of financial accounting and his/her related responsibilities at the financial institution. The course will familiarize the learner with crucial business and financial terms and their definitions and how to apply them to work at the financial institution. Upon completing this course, the learner will be able to:

• Recognize and use the 5 C’s of Credit when analyzing customers.
• Properly maintain various financial statements, including income statements and balance sheets.
• Understand the importance and relevance of IFRS and GAAP to the financial institution.

Course Topics

T1. Accounting and its Importance: This topic demonstrates the importance of accounting and how accounting information is typically used. This topic also includes different methods of accounting.

T2. Double Entry Accounting: This topic will provide the learner with a brief history of double entry accounting, the advantages of the method, and an example of how a transaction would be calculated using double entry accounting.

T3. Key Financial Terms and Definitions: This topic will provide the learner with commonly used terms and organizations associated with financial accounting.

T4. Financial Statement Basics: This topic will provide the learner with fundamental information regarding financial statements, including an overview of the bookkeeping process, and the journalizing and posting process.

T5. The Balance Sheet: This topic will demonstrate how assets, liabilities, and equity are used in the accounting equation, and will provide an example of a balance sheet.

T6. The Income Statement: This topic will provide the learner with information regarding different elements that are contained in an income statement, and provides examples of a single-step income statement and a multi-step income statement.

T7. The Cash Flow Statement: This topic will familiarize the learner with sections included in a cash flow statement. This topic will also demonstrate how a cash flow statement is calculated using a hypothetical business scenario that covers three months of transactions.

T8. GAAP: This topic provides the learner with a brief history of the U.S. Generally Accepted Accounting Principles (GAAP), and demonstrates why the U.S GAAP is important. This topic also ensures that the learner understands the function of the IFRS and provides a list of countries that use it.