Accounting Skills for New Supervisors

Accounting Skills for New Supervisors

Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem!

Over the course of this two-day workshop, you will teach participants about:

• The art of finance and financial management
• Key financial terms
• Their role in company finances
• Where to find the rules and regulations for their area and industry
• Various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
• How a chart of accounts is created
• Cash and accrual accounting
• Single and double-entry bookkeeping
• Debits and credits
• Identifying and analyzing important financial data
• Making financial decisions
• Reading annual reports
• Determining whether a company is a financially high or low risk
• Different types of organizational financial plans
• What budgets are and how to prepare them
• What computer skills they need to make you a financial whiz
• Dealing with financial situations that impact the people that work for them

Learning Objectives

• Getting the Facts Straight
• The Accounting Cycle
• The Key Reports
• Keeping Score
• A Review of Financial Terms
• Understanding Debits and Credits
• Your Financial Analysis Toolbox
• Identifying High and Low Risk Companies
• The Basics of Budgeting
• Working Smarter
• People and Numbers