Accounting: Understanding the Language of Business
Course Description
Accounting kicks in every time you buy or sell something, pay a bill, get a paycheck, or check your bank balances. Likewise, all business transactions have monetary value and accounting helps put it in perspective with clear record keeping and reporting rules to follow, which brings order and comparability to the chaos of information. The accounting information generated from journal entries and chart of accounts are like pieces of a puzzle put together in the constructing of financial statements. When family business owners / members learn and understand accounting as a decision input, they will make better decisions and manage the business efficiently. This is called the managerial approach to accounting, which is the focus of the course.
Accounting kicks in every time you buy or sell something, pay a bill, get a paycheck, or check your bank balances. Likewise, all business transactions have monetary value and accounting helps put it in perspective with clear record keeping and reporting rules to follow, which brings order and comparability to the chaos of information. The accounting information generated from journal entries and chart of accounts are like pieces of a puzzle put together in the constructing of financial statements. When family business owners / members learn and understand accounting as a decision input, they will make better decisions and manage the business efficiently. This is called the managerial approach to accounting, which is the focus of the course.
Learning Outcomes
Upon studying and completion of the course, participants will be able to:
Upon studying and completion of the course, participants will be able to:
- Understand the Framework of Accounting, Accounting Cycle, and Accounting Equations
- Analyze the break down the Categories of Assets, Liabilities, and Equity under the Balance Sheet and the Categories of Revenues, Costs, and Expenses under the Income Statement
- Assess the Working Capital needed for Day-to-Day Operations and the Acquisition of Long-Term Assets for Company Expansion
- Manage the Debt and Equity Levels in terms of Risks and Return Exposure of the Company
- Choose the better Revenue Stream in terms of Cash vs. Credit and Pricing Methods Used
- Explain the Concept of Earning Profits, but Out of Cash
- Determine the Differences and Interconnection of the Financial Statements: Balance Sheet / Income Statement / Cash Flow Statement
Course Coverage
Setting Up the Accounting Framework
Assets, Liabilities and Equities
Revenues, Expenses, and Profits
Free Cash Flows and Cash Operating Cycle
Setting Up the Accounting Framework
- Accounting is More Than Numbers: What Counts as a Transaction and How Accounts Connect
- The Accounting Cycle and the Accounting Rules - GAAP / IFRS
- The Accounting Traps and Top 10 Accounting Mistakes to Avoid
Assets, Liabilities and Equities
- Accounting Equation: Breaking Down the Components of the Balance Sheet
- Effects on Liquidity, Asset Management, and Debt Management of the Company
- Implications on Working Capital for Day-to-Day Operations and the Acquisition of Long-Term Assets for Company Expansion
Revenues, Expenses, and Profits
- Accounting Equation: Breaking Down the Components of Profit & Loss Statement
- Effects on Profitability, Market Values and Taxes Returns of the Company
- Implications on Revenue Stream & Pricing Methods, Types of Expenses, and Depreciation Methods Used
Free Cash Flows and Cash Operating Cycle
- Importance of Free Cash Flows vs Net Operating Profits After Taxes (NOPAT)
- Types of Cost – Inventory Connection and Cash Conversion Cycle
- Accounting Equation: Breaking Down the Components of Cash Flow Statement
- Implications on Financing and Operating Costs of the Company
Class Schedule
May 3, 2021 - (5:00 pm to 8:00 pm)
May 4, 2021 - (5:00 pm to 8:00 pm)
May 5, 2021 - (5:00 pm to 8:00 pm)
May 7, 2021 - (5:00 pm to 8:00 pm)
**May 8 (1:00 pm to 6:00 pm) Individual Consultations if needed
NOTES ON CLASS SCHEDULE:
(*) The class period of 5:00 – 8:00 pm will include a 30-minute break in the middle of the session.
(**) 30-minutes to 1 hour Individual Consultations will depend on requests made by participants.
May 3, 2021 - (5:00 pm to 8:00 pm)
May 4, 2021 - (5:00 pm to 8:00 pm)
May 5, 2021 - (5:00 pm to 8:00 pm)
May 7, 2021 - (5:00 pm to 8:00 pm)
**May 8 (1:00 pm to 6:00 pm) Individual Consultations if needed
NOTES ON CLASS SCHEDULE:
(*) The class period of 5:00 – 8:00 pm will include a 30-minute break in the middle of the session.
(**) 30-minutes to 1 hour Individual Consultations will depend on requests made by participants.
Resource Person: Ms. Alice Ann Parlan
A Program Director for Management Honors Program and an Assistant Professor at the Finance and Accounting Department of the John Gokongwei School of Management (JGSOM) under the Ateneo de Manila University; Taught undergraduate students various finance courses such as Introductory Course on Fundamentals of Finance (FIN 101), Principles of Corporate Finance (FIN 103), Financial Management (FIN 105), Personal Finance (FIN 199.1), and Entrepreneurial Finance (FINN 117) since 2012 up to present; taught Green Accounting (ACCT 240) for graduate students of M.S. Sustainability Management last 2018
A Finance Professional with over 35 years of corporate work experiences in various areas of financial services such as treasury and funds management, trust investment services, investment banking-distribution, investment management, retail banking, foreign currencies trading and commodity futures trading, credit analysis, corporate planning and research with both government and private sectors of the Philippines
A Financial Consultant with over 17 years of client engagement (specifically for individuals, corporate and institutional clients) in financial advisory services on financial planning, investment management, personal risk management, retirement planning, and estate & tax planning; with active speaking engagements in financial management, investments, entrepreneurship, and financial literacy
Academic Credentials: Master’s Degree in Business Administration (MBA) – Top 10% Rank (1980) and a Bachelor of Science Degree in Business Economics (BSBE) – Cum Laude, both from the University of the Philippines and a High School Salutatorian & Math Gold Medalist at the St. Theresa’s College, Manila.
Professional Credentials: Registered Financial Planner (RFP) from the Philippine Registered Financial Planning Institute (A Chapter of the U.S. Registered Financial Planning Institute); as Certified Investment Solicitor from the Philippines’ Securities & Exchange Commission (SEC); as Certified Trust Advisor from the Trust Institute Foundation of the Philippines (TIFP)’s Trust Operations and Investment Management; with Certification Authority for Life and Non-Life Insurances from the Philippines’ Office of Insurance Commission (OIC) from 2004 up to present.
A Program Director for Management Honors Program and an Assistant Professor at the Finance and Accounting Department of the John Gokongwei School of Management (JGSOM) under the Ateneo de Manila University; Taught undergraduate students various finance courses such as Introductory Course on Fundamentals of Finance (FIN 101), Principles of Corporate Finance (FIN 103), Financial Management (FIN 105), Personal Finance (FIN 199.1), and Entrepreneurial Finance (FINN 117) since 2012 up to present; taught Green Accounting (ACCT 240) for graduate students of M.S. Sustainability Management last 2018
A Finance Professional with over 35 years of corporate work experiences in various areas of financial services such as treasury and funds management, trust investment services, investment banking-distribution, investment management, retail banking, foreign currencies trading and commodity futures trading, credit analysis, corporate planning and research with both government and private sectors of the Philippines
A Financial Consultant with over 17 years of client engagement (specifically for individuals, corporate and institutional clients) in financial advisory services on financial planning, investment management, personal risk management, retirement planning, and estate & tax planning; with active speaking engagements in financial management, investments, entrepreneurship, and financial literacy
Academic Credentials: Master’s Degree in Business Administration (MBA) – Top 10% Rank (1980) and a Bachelor of Science Degree in Business Economics (BSBE) – Cum Laude, both from the University of the Philippines and a High School Salutatorian & Math Gold Medalist at the St. Theresa’s College, Manila.
Professional Credentials: Registered Financial Planner (RFP) from the Philippine Registered Financial Planning Institute (A Chapter of the U.S. Registered Financial Planning Institute); as Certified Investment Solicitor from the Philippines’ Securities & Exchange Commission (SEC); as Certified Trust Advisor from the Trust Institute Foundation of the Philippines (TIFP)’s Trust Operations and Investment Management; with Certification Authority for Life and Non-Life Insurances from the Philippines’ Office of Insurance Commission (OIC) from 2004 up to present.
