Accounting for Non-Accountants Course

Offered By: Nokhba International American University
Course Duration: 3 Months
Lectures: 2 per week (1.5 hours each)
Month 1: Foundations of Accounting
Goal: To introduce students to the core concepts of accounting, terminology, and the basic structure of financial statements.

Week 1: Introduction to Accounting

What is accounting?

The role of accounting in business and personal finance.

Key accounting terms (Assets, Liabilities, Equity, Revenue, Expenses).

Overview of Financial Statements: Balance Sheet, Income Statement, and Cash Flow Statement.

Week 2: The Accounting Equation

Understanding the basic accounting equation:

Assets = Liabilities + Equity

How to analyze business transactions using the equation.

Introduction to double-entry bookkeeping.

Week 3: Recording Transactions

Introduction to journals and ledgers.

How to record simple transactions (e.g., sales, purchases, expenses).

Debits and Credits explained.

The role of the general journal and trial balance.

Week 4: The Balance Sheet

Structure of a Balance Sheet.

Understanding current and non-current assets, liabilities, and equity.

How to prepare and analyze a Balance Sheet.

Practical examples and exercises.

Month 2: Intermediate Accounting Principles
Goal: To deepen understanding of accounting systems, including the preparation of financial statements.

Week 5: Income Statement and Profit & Loss

Understanding the Income Statement and Profit & Loss statement.

Key elements: Revenue, Cost of Goods Sold, Operating Expenses, Net Profit.

How to prepare and analyze an Income Statement.

Week 6: Cash Flow Statement

Understanding the purpose of the Cash Flow Statement.

Cash flows from operating, investing, and financing activities.

How to prepare and interpret a Cash Flow Statement.

Week 7: Depreciation and Amortization

Concepts of depreciation and amortization.

Different methods of depreciation (Straight-line, Declining balance, Units of production).

Accounting for intangible assets and amortization.

Week 8: Accounting for Inventory

Different inventory systems (FIFO, LIFO, and Weighted Average).

How to calculate cost of goods sold and ending inventory.

Impact of inventory management on financial statements.

Month 3: Advanced Concepts & Practical Application
Goal: To focus on advanced concepts like budgeting, financial analysis, and preparing for real-life financial decision-making.

Week 9: Budgeting and Forecasting

The importance of budgeting in business and personal finance.

Creating a basic budget.

Comparing actual vs. budgeted performance.

Financial forecasting techniques.

Week 10: Financial Ratios and Analysis

Key financial ratios: Profitability, Liquidity, Leverage, and Efficiency ratios.

How to analyze financial health using ratios.

Practical examples of financial ratio analysis.

Week 11: Introduction to Taxation

Basics of business taxation and personal income taxes.

Understanding tax deductions and credits.

How taxes impact financial statements.

Week 12: Final Project & Review

Hands-on project: Prepare a basic set of financial statements for a mock company.

Review of key concepts learned.

Q&A session and discussion.

Course wrap-up and certification.