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Finance For Non-Financial Personnel Part 3 Business Driven Finance Insights For Laymen How To Record Accounting Information
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Finance For Non-Financial Personnel Part 3Business Driven Finance Insights For Laymen
How To Record Accounting Information
£ ¥ € ₳ ₨$The Structure of Finance For Non-Financial Personnel
educational: free distribution
Part 1
Part 2
Part 3
Part 4
Introduction and explain the importance of learning business driven finance
Misconceptions - to describe the common misread of the laymen about the accounting department and it practise. Fundamentals of financial knowledge-set your perspective.
Records - understand the principles that used in recording transactions & how your activities related to them. Very important but have been ignore by many.
Reports- learn evaluate financial information, perform critical ratios analysis, and read different reports. From your perspective, how to use the reports in the best way.
8 presentations altogether, if you cannot find all the links, kindly email [email protected] to request
£ ¥ € ₳ ₨$
How to record accounting
information?
educational: free distribution
£ ¥ € ₳ ₨$
Principle 1Each financial record reflects two aspects: 1) source of fund, and
2) how the fund is applied
Debit: Fund
applied
Credit: Source of
fund
Show off to your Chartered Accountant
Remove mystery of double-entry system
educational: free distribution
£ ¥ € ₳ ₨$
Principle 1Each financial record reflects two aspects: 1) source of fund, and
2) how the fund is applied
Sell Computer In Credit Term
Remove mystery of double-entry system
educational: free distribution
Debit: Debtor Debtor formed
where fund applied, i.e. buy
debtor at this point of time.
Debit: Fund
applied
Credit: Source of
fund
Credit: SalesAs not yet
receive money at this time, source
of fund come from the sales.
£ ¥ € ₳ ₨$
Principle 2Types of input data for Accounting information:
1. Historical2. Estimate
Historical => ActualEstimate => Budget/ forecast/ plan
Only these two. Not that much right?
Do you estimate?
Record history to appraise results
educational: free distribution
£ ¥ € ₳ ₨$
Principle 2Types of input data for Accounting information:
1. Historical2. Estimate
Only these two. Not that much right?
Do you estimate?
Record history to appraise results
educational: free distribution
Actual: What had happenBudget: What had committedForecast: What I think will happenPlan: What I hope to happen
Historical => ActualEstimate => Budget/ forecast/ plan
£ ¥ € ₳ ₨$
Principle 3Transaction types:
1. Cash2. Sales
3. Purchase4. Others (catch-all)
All transactions MUST fall within these types
Cash Any
record touch on
cash
SalesRecord Sales
Others Notional;
adjustment; allocation
Purchase Record
Purchases
To remove myth, you need to see big picture.
educational: free distribution
£ ¥ € ₳ ₨$
Cash Any
record touch on
cash
SalesSales with credit term
Others Notional;
adjustment; allocation
Purchase Purchase with credit
term
educational: free distribution
£ ¥ € ₳ ₨$
Cash Any
record touch on
cash
SalesSales with credit term
Others Notional;
adjustment; allocation
Purchase Purchase with credit
term
Try to relate: Cash sales, cash purchase, traveling & entertainment & claim …
educational: free distribution
£ ¥ € ₳ ₨$
Cash Any
record touch on
cash
SalesSales with credit term
Others Notional;
adjustment; allocation
Purchase Purchase with credit
term
Can you relate your CRM, Sales funnels, and invoicing to the credit sales numbers?
educational: free distribution
£ ¥ € ₳ ₨$
Cash Any
record touch on
cash
SalesSales with credit term
Others Notional;
adjustment; allocation
Purchase Purchase with credit
term
Relate from your SCM, PO issue to vendor invoice recording to approving payment
educational: free distribution
£ ¥ € ₳ ₨$
Cash Any
record touch on
cash
SalesSales with credit term
Others Notional;
adjustment; allocation
Purchase Purchase with credit
termMost laymen confuse here. As a manager, you need to know what affect the presentation of your department’s performance
educational: free distribution
£ ¥ € ₳ ₨$
Cash Any
record touch on
cash
SalesSales with credit term
Others Notional;
adjustment; allocation
Purchase Purchase with credit
term
Can you relate your CRM, Sales funnels, and invoicing to the credit sales numbers?
Try to relate: Cash sales, cash purchase, traveling & entertainment & claim …
From your SCM, PO issue to vendor invoice recording to approving payment
Most laymen confuse here. As a manager, you need to know what affect the presentation of your department’s performance
educational: free distribution
£ ¥ € ₳ ₨$
● You know the principles behind your activities recorded
● You can relate your activities to the transaction types
● You can visualize why your activities affects the finance
department’s operations
educational: free distribution
Are You On Track?
Look For Next Presentation: Finance For Non-Financial
Personnel - Part 4
£ ¥ € ₳ ₨$
educational: free distribution
3CTT is a management consultant who advise and run projects for holistic business solutions, usually end-to-end, to improve business and make achievements. They cover all business functions with unique IT enhancements to increase companies’ competitive advantages, maximizing revenue, liquidity, & profit while designing highly effective organization.
We had been recognised by many as Trusted Advisor, Growth Driver, Turnaround Expert, Exceptional Motivator, Strategist, Business Designer, and Dynamic Change Agent
For more information: www.3cthinktank.com
8 presentations altogether, if you cannot find all the links, kindly email [email protected] to request
All the 8 presentations are the overview, PLEASE email us if you like to get more benefits from them.
