|The goal of this course is to teach participants how to understand basic accounting concepts necessary to assess risk and determine credit implications. Upon successful completion of this class, participants should be able to understand most of the basic accounting policies that will impact a borrower’s financial statement.
This class assumes participants would have not have completed a college level course prior to this training.
Topics covered include:
- Basics of accounting – using debts and credit
- Accounting cycle
- Fundamental understanding of the Balance Sheet, Income Statement, Cash Flow and Statement of Shareholder’s Equity Financial Statements
- Difference between cash and accrual accounting
- Audit Opinions
- Accounting for sales, costs of goods sold and expenses resulting in the creation of the income statement.
- Revenue and expense recognition concepts
- Accounting for receivables, inventory, fixed assets, accruals, and shareholders equity