American Management Association Seminars
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DEBITS & CREDITS: HOW ACCOUNTING REALLY WORKS
Seminar No: 01210 -XNBB
CEU Credits: 1.2
Length: 2 days
You can’t make the strategic decisions and move business forward without this vital tool--financial reports.
Companies--and careers--are evaluated on the basis of financial reports. The language of business in every industry around the globe is rooted in the "accounting equation." So keep your accountants on their toes and make sure your books are sound. Uncover and correct problems quickly by double-checking how sales, expenses, equity and debt are recorded. Developed for business professionals who have no work experience in accounting, this seminar walks you through the basics and gives you the skills and confidence to speak the "language of business" like a pro.
Managers and supervisors who do not work in accounting, but who need to know how it works; anyone who has recently taken on accounting responsibilities.
How You Will Benefit:
- Make more informed decisions and save money
- Reduce costly errors caused by misunderstanding of reports
- Get the information you need from accounting
- Understand how and when sales and expenses are recorded and impact the bottom line
- Control how your operation's results are reported
- Evaluate the financial results of another division or company
What You Will Cover:
- The accounting equation
- Accounting terms and concepts
- Accounting processes and what they mean: Cash accounting, accruals, allocations, prepaids, receivables, depreciation, amortization, goodwill, inventory, deferrals, reserves
- How transactions are entered into financial records
- Financial reports: Including balance sheet, income statement and changes in equity
- Month-end closings: What to expect
Extended/Detailed Seminar Outline
The What and Why of Accounting
- Make More Informed Decisions and Save Your Company Money
- Reduce Costly Errors Caused by Misunderstanding of Reports
- Get the Information You Need from the Accounting Department
- Understand How and When Sales and Expenses Are Recorded and Impact the Bottom Line
- Control How Results of Your Operation Are Reported
- Evaluate the Financial Results of Another Division or Company
The Practice of Accounting
- Understand the What and Why of Accounting
- Review How Accounting Functions as a Language
- Understand the Approaches to Understanding Accounting Language
- Define the Concept of Fairness
- Understand the Documentation of Transactions
- Explore How Quality Control Is Applied to the Accounting Process
Financial Statements: The Results of Accounting
- Understand the Relationship of Accounting to Other Processes
- Review the Context of Accounting
- Explore the Environment of Accounting
- Discuss the Various Rules Governing Accounting
- Understand the Different Approaches to Accounting
- Understand the Source and Purpose of Accounting Controls
The "Accounting Equation": Assets=Liabilities+Equity
- Understand the Financial Statements and How They Are Used
- Review the Structure and Function of the Financial Statements
- Understand the Balance Sheet
- Understand the Income Statement
- Understand the Statement of Cash Flows
Fundamental Accounting Concepts
- Understand the Accounting Equation
- Review the Relationship of Assets, Liabilities, Equity, Income and Expense
- Explore the Balancing Concept and How the Various Parts of Accounting Work
- Understand the Use of Debits and Credits
- Review the Structure of the Various Accounting Tools
- Understand How the Accounting Process Fits Together with the Business Mission
Working with Accounts
- Understand the Various Concepts That Form the Basis of the Accounting Process
- Review the Various Definitions and Sources of Accounting Procedures
- Explore the Application of Concepts to the Processes Involved
- Discuss the Implications of the Concepts on the Processes
- Understand the Timing and Coordination Concepts
- Understand Materiality and Matching
Accounts with Particular Rules
- Understand the Idea of an Account
- Review the Nature and Function of "T" Accounts
- Explore the Ideas of Debit and Credit
- Understand the Five Different Classes of Ledger
- Discuss the Debit and Credit Rules
- Understand Application of Debit and Credit Rules
- Understand the Function and Use of Accounts
Financial Records of an Enterprise
- Understand How Special Accounting Rules Work
- Review Some of the Accounting Rules
- Explore Different Accounting Choices
- Understand When Various Methods Are Used
- Discuss the Effect of Different Decisions
Accountants vs. Line Managers
- Understand the Various Books of Account
- Review the Relationships of the Books of Account
- Understand the Uses of the Journals and Ledgers
Trends in Accounting
- Understand the Relationship between Accountants and Line Managers
- Review the Responsibilities of Various Parts of the Organization
- Explore the Footnotes to the Statements and What They Mean
- Understand the Financial Reports and How to Evaluate Them
- Discuss the Controls and How to Locate Errors
- Understand the Direction of Accounting
- Review the Roles and Skills in the Accounting Profession
- Discuss the Demands on the Profession for the Future
- Look at the Various Tools and How They Are Used
- Discuss the Buzzwords Currently Influencing the Profession
- Understand Creative Accounting
- Discuss the Future of Accounting and Its Place in the 21st Century
Start and End times: first day - 8:30am-5pm, all other days 9am-5pm unless otherwise specified. Your registration confirmation notice will confirm the hotel/conference center for the seminar for which you registered. The information included on this page is all the information available on this seminar. Please use form below to register only. To request information that is not included above please send an email to
. Remember to specify the complete seminar number about which you are requesting information.
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** Online Registration & Fee Information ** Please use form below to register only. To request information that is not included above please send an email to
. Remember to specify the complete seminar number about which you are requesting information.
After submitting your online registration you will receive registration confirmation and invoice within 7-10 business days. You may pay by credit card or check. Confirmation information will also include location and other pertinent course information.
Always state priority code XNBB to your customer service representative when registering directly by phone.
Note: Prices are subject to change without notice. To confirm the price of your session, select the session above and click “Send”. Discounts apply for groups of three or more people. Call for details. Federal government employees are eligible for special GSA pricing for many seminars.
AMA's main conference centers
Seminars scheduled for the cities below are held at the locations listed below. For location information for other cities in which AMA seminars are held please call or email for information.
AMA executive Conference Center
1601 Broadway New York, NY 10019
American Management Association (Located in the same building as the Crowne Plaza Hotel) 1601 Broadway On Broadway and 48th Street near Times Square. Entrance is on 48th Street.
AMA executive Conference Center (adjacent to the Marroitt O'Hare)
8655 west higgins rd
Chicago, IL 60631
AMA executive Conference Center is located in San Francisco Marriott Hotel
55 Fourth Street 2nd Level
San Francisco, CA 94103
AMA Executive Conference Center
Address: 1170 Peachtree Street Ne Cnr Peachtree & 14th (3rd Flr)
City, State, Zip: Atlanta, GA 30309
2345 Crystal Drive, Suite 200
Arlington, VA 22202
If you are not paying via credit card, you will receive an invoice with payment instructions.
If you cannot attend a seminar you can contact AMA in advance to transfer to a future session, or you can send someone to take your place. If you need to cancel your attendance, AMA will give you a complete refund if you cancel more than three weeks before your seminar begins. To cancel, simply email us at
. If you cancel with less than three weeks’ advance notice, you will be liable for the entire seminar fee. Once your payment has been received, you may request a courtesy transfer to use at any future AMA seminar of equal or lesser length. The courtesy transfer must be used within one year of the date of your originally scheduled seminar. In fairness to all attendees, if you do not attend a seminar session for which you are confirmed and do not contact AMA to cancel in advance, you will be charged the entire seminar fee.
AMA grants courtesy transfers to people who cannot attend their scheduled sessions. You can use a courtesy transfer for any seminar of equal or lesser length than the original seminar. You must use your courtesy transfer within one year of the date of your originally scheduled seminar.
AMA guarantees the quality of our seminars. If, for any reason, you are not satisfied with a seminar for which you have paid, AMA will give you credit toward another seminar of comparable price or will refund your fee.
You can also register by emailing your registration information to us at
or calling us at 919-480-2550.