Accrual Accounting for Non-Financial Managers

Overview

This is a one-day introductory course for non-financial managers who suddenly find themselves responsible for managing a cost centre and budget, or for those who currently hold financial delegations and wish to better understand the nature and impact of their decisions on financial performance. This course is delivered within the context of accrual output budgeting. It is designed to equip non-financial managers with the necessary knowledge and skills to effectively discharge their financial responsibilities. It adopts an interactive, hands-on approach to the subject, with participants given the opportunity to apply their newly gained knowledge and skills to small group exercises and case studies.

Course Content

This course outlines the concepts and principles of accrual accounting and the reasons why it was introduced in the public sector. It explains the difference between accrual and cash transactions, and the need for both. It explores the benefits of using accrual accounting, outlines the elements of accounting building blocks, and addresses accrual accounting, costing and financial statements. This is a practical and comprehensive introduction to accrual accounting for non-financial managers.

Course Outcomes

By the end of this course attendees should be able to:

• explain the concepts and principles of accrual accounting
• outline the drivers behind the introduction of accrual accounting by the public sector
• explain the difference between accrual accounting and cash accounting
• define the elements of accrual accounting
• articulate the benefits of accrual accounting, and the need for both accrual accounting and cash accounting
• appreciate the impact of operational decisions on financial performance
• describe the impact of accrual transactions on financial statements
• prepare a basic set of financial statements and evaluate financial performance

Benefits to your organisation

• enhanced financial management capability
• improved financial decision-making and resource allocation

Benefits to you

• enhanced financial management skills that can be applied to the workplace and the home
• informed decision-making and appreciation of the implications of your operational and financial management decisions
• enhanced career opportunities