Accounting Fundamentals

A Practical Guide to Accounting Practices, Processes and Procedures.

An interactive course with hands-on exercises that walk participants through each step of the financial process. Attendees will learn and understand the basic financial reports.Contact Us to Learn More

This course is a compressed version of the two-day Finance and Accounting course wherein I removed all references to Finance and what remained was strictly accounting.

Accounting for Everyone Else

Many business people do not understand accounting, its processes and its methodologies This course, designed specifically for non-accounting personnel, guides participants through basic and elementary accounting procedures used to produce financial reports. Those who attend this course will learn and understand how the financial statements are developed and the controls and checks used to assure reliability in those financial statements.

This 1-day course specifically focuses on what accountants do, how they do it and why they do what they do. This is not a sit and listen event. This is an interactive course with hands-on exercises that walk participants through each step of the financial process. They take home the comprehensive course manual filled with accounting methodologies and processes needed for a thorough understanding of financial reports.

  • Terms and definitions
  • General Ledger, Accounting Cycle and Accounting Standards
  • Balance Sheet analysis and preparation
  • Income Statement – sales, cost of sales and expenses
  • Statement of Cash Flow – 3 main sources and uses of cash
  • Equity – share structure, retained earnings and dividends
  • Adjustments and journal entries
  • Source document reviews
  • Account reconciliations
  • Fixed assets – acquisitions, depreciation and disposals
  • Liabilities – accruals, current and long-term portion of debt
  • Budgeting – controlling expenses through variance analysis
  • Risk management
  • Exercises – cash flow forecast, Balance Sheet, financial analyses and more

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Key Selling Points

Learning accounting processes and terminology

Financial statement reviews

Gain a new sense of confidence when dealing with senior managers and financial professionals

Learning and understanding why, when and how accounting transactions  are initiated and entered into the financial records.


Course Outline

  • Terms and definitions
  • General Ledger, Accounting Cycle and Accounting Standards
  • Balance Sheet analysis and preparation
  • Income Statement – sales, cost of sales and expenses
  • Statement of Cash Flow – 3 main sources and uses of cash
  • Equity – share structure, retained earnings and dividends
  • Adjustments and journal entries
  • Source document reviews
  • Account reconciliations
  • Fixed assets – acquisitions, depreciation and disposals
  • Liabilities – accruals, current and long-term portion of debt
  • Financial ratios and analyses
  • Budgeting – controlling expenses through variance analysis
  • Risk management
  • Exercises – cash flow forecast, Balance Sheet, financial analyses and more

Learning Outcomes

  • Understanding accounting processes and methodologies
  • Understanding accounting checks, balances, controls and reconciliations
  • Understanding financial terminology
  • How and where to find financial information
  • How to use financial reports and analyses to identify strengths and weaknesses
  • Improved communication with accountants

Who Should Attend

Every employee can benefit from this course especially those with little or no accounting knowledge:

  • Owners
  • Managers
  • Supervisors
  • Support department employees
  • Department and division managers
  • Administrators
  • Trainees
  • Anyone who wants a better understanding of accounting 

Instructor: Wayne Newell

For over 35 years Wayne served in senior financial leadership roles and worked with companies throughout Canada, the United States and the Caribbean. His experiences and expertise, shared with many companies, has helped owners, managers, employees and businesses grow. In doing so, he has amassed a library of knowledge on what makes a successful contracting company.

During his seminars he discusses his experiences in implementing specific techniques, methods and strategies used to help contracting companies increase profits, control and/or reduce costs and improve cash flows. He has been presenting his exclusive seminars in major Canadian cities since 2003. He was awarded his CMA in 1972.

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  • Upcoming Courses

    BRANDON – CARM
    Strategic Planning – December 3, 2019

    CALGARY – CGYCA
    Strategic Planning – November 18, 2019
    Profitable Contracting – Nov.  20, 2019
    Finance & Accounting – Nov. 21, 22, 2019

    FLIN FLON- NMMA
    Profitable Contracting – October 15, 2019
    Profitable Contracting – October 16, 2019
    Accounting Basics – October 17, 2019
    Touch of Class – October 18, 2019

    KELOWNA – SICA
    Strategic Planning – October 21, 2019
    Profitable Contracting – October 22, 2019
    Finance & Accounting – Oct. 23, 24, 2019

    OTTAWA – OCA 
    Strategic Planning – February 19, 2020
    Profitable Contracting – February 20, 2020
    Touch of Class – February 21, 2020

    PORTAGE la PRAIRIE – CARM
    Profitable Contracting – December 4, 2019
    Finance & Accounting – December 5, 6, 2019

    PRINCE GEORGE – NRCA
    Strategic Planning – Nov. 12, 2019

    Profitable Contracting – Nov. 13 2019
    Finance & Accounting – Nov. 14, 15 2019

    REGINA – RCA
    Strategic Planning – March, 2020
    Profitable Contracting – March, 2020
    Touch of Class – March, 2020

    SASKATOON – SCA
    Strategic Planning – March, 2020
    Profitable Contracting – March, 2020
    Touch of Class – March, 2020

    TORONTO – ORBA
    Strategic Planning – Feb. 27, 2020
    Profitable Contracting – Feb. 28, 2020

    TORONTO – TCA
    Construction Accounting Fundamentals – Nov. 28, 2019
    Strategic Planning – Nov. 29, 2019
    Profitable Contracting – Feb. 24, 2020
    Finance & Accounting – Feb. 25 & 26, 2020

    VANCOUVER – VRCA
    Profitable Contracting – Nov. 5 2019
    Finance & Accounting – Nov. 6, 7 2019
    Strategic Planning – Nov. 8, 2019

    VICTORIA – VICA
    Profitable Contracting – Oct 30, 2019
    Finance & Accounting – Oct. 31, Nov. 1

    WINNIPEG – WCA
    Construction Accounting Fundamentals – Nov. 25, 2019
    Strategic Planning – Nov. 26, 2019
    Profitable Contracting – Mar. 3, 2020
    Finance & Accounting – Mar. 4 & 5, 2020

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