How Accounting Works and Reporting Guidelines 2022 | Wolters Kluwer Tax & Accounting US | 2 June 2022 | Webinar

Every business must comply with basic accounting and reporting guidelines. The IRS requires it; your banker and creditors want to know what kind of credit risk you are; your investors want to know what kind of return they can expect from their investment; your customers want to know you have a viable business model.

Join CGMA and experienced businessman Miles Hutchinson as he walks you through the basic accounting rules and teach you the ins and outs of recording daily events such as asset purchases, depreciation, loans, sales, inventory, cost of goods sold, operating expenses, etc. and how these events roll up into the four financial statements.

Who Should Attend:
Business Managers, Compliance Managers, Compliance Officers, Information Reporting Officers, Bank Managers, Risk Managers, and Human Resource Managers.

Topics Covered:

• Get acquainted with the Basic Accounting Equation
• The purpose and relationships between the four financial statements
• The story of debits and credits and how to make them work for you
• How your daily events translate into accounting transactions
• How transactions get summarized into a trial balance
• How the trial balance translates into a set of financial statements

Learning Objectives:

• Identify the basic accounting rules and how to record daily events
• Recognize the purpose and relationships between the four financial statements
• Differentiate debits and credits and how to make them work best for you
• Recognize how your daily events translate into accounting transactions
• Identify how transactions get summarized into a trial balance
• Describe how the trial balance translates into a set of financial statements

Level: Basic