I start my seminars on Finance & Accounting Made Simple with a few questions to attendees. They all have to do with so called “myths” about accounting. I try and determine what the audiences believe about accounting.
One of the questions is whether they feel accounting is complicated and/or difficult to learn. Most allow that it is complicated as in their minds it ivolves lots of complicated mathmetical theories and formulae. This is not to be believed. Nothing is further from the truth about accounting. I tell attendees that accounting is as easy to understand as their own checking account and then I set out to prove this in the presentation.
All businesses engage in many types of transactions of a financial nature. These transactions must go through an accounting process that classifies, records & summarizes them to determine what the business “owns” “owes” and it’s net worth which is the difference. This statement is called the Balance Sheet.
The other component is to determine what the business earned in Revenue and Incurred in expenses. This diffrerence is either profit or loss. This statement is called the Income Statement or Profit and Loss Statement.
These two statements along with the Cash Flow Statement, which shows sources and uses of funds are produced from the transactions a business engages in. We use these statements to make informed business decisions to move the company forward to greater profits.
Now! That is real simple! Don’t you agree? My entire presentation is based on this simple premise and is designed especially for non-financia professionals who must cope with financial statements in the management of their areas of responsibility.
I have branded myself Mr. Simplicity. This is what I do with guaranteed success. Check out my seminar. I guarantee all attendees with walk away with a knowledge of the basic fumdamentals and foundation of accounting presented to them in easy to understand and apply tools and techniques.
Finance and Accounting are Simple if Made Simple! This is not a myth it is a meaning. I guarantee to make them simple!