Accounting Overview

This module on Accounting-Overview training focuses on accounting fundamentals and is part of the curriculum of critical training courses for developing leadership competencies and management talent.

Accounting Competencies- the ability to:

  • understand the elements of and the relationships among the primary financial statements as well as how business transactions are processed to produce financial statements
  • understand the accounting cycle
  • manage the types of information needed for management decision-making and how to prepare it
  • understand the purpose of the audit function and audit standards
  • understand basic income tax concepts and how they are applied to different entities, the differences between tax and GAAP rules, and to perform basic tax research

Recommended materials

  • Accounting for Non-Accountants: The Fast and Easy Way to Learn the Basics by Wayne Label (Jun 2006)
  • Accounting by Carl S. Warren, James M. Reeve, and Jonathan Duchac (Jul 2008)
  • Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports by Thomas R. Ittelson (Aug 2009)
  • The Manager’s Guide to Financial Statement Analysis (Wiley Finance) by Stephen F. Jablonsky and Noah P. Barsky (Feb 2001)
  • Accounting and the ethics challenge: re-membering the professional body.  By: Cowton, Christopher J.. Accounting & Business Research, 2009, Vol. 39 Issue 3

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