Upon successful completion of this course, participants will be able to:

Chapter 1

• Note the roles of the controller and the chief financial officer
• Identify activities to address during the controller’s first days on the job

Chapter 2

• Identify key elements involved in the accounting for cash, including how to reconcile, administer petty cash, forecast and invest, and set up a system of cash controls

Chapter 3

• Note the measurements that can be applied to the credit and collection processes
• Identify techniques and accounting used for credit and collections

Chapter 4

• Recognize the methods for creating and issuing customer invoices, as well as how to account for them

Chapter 5

• Identify the types of inventory tracking and costing systems available, noting their characteristics and use as well as how to manage the systems

Chapter 6

• Identify ways to track fixed assets, noting the characteristics and usage of each method
• Recognize the accounting for fixed assets, noting fixed assets controls, record keeping, and audit requirements

Chapter 7

• Identify major accounts payable processes, noting how to manage the accounts payable function and set up a proper system of controls for it

Chapter 8

• Recognize the key elements in accounting for equity, noting terminology and how to account for basic equity-related transactions such as stock and dividends

Chapter 9

• Identify techniques used in the processing of payroll, noting key characteristics for payroll cycle durations and timekeeping
• Specify ways to improve the processing of payroll, including the key characteristics and usage for each method
• Note the proper way to account for common payroll transactions
• Identify various payroll controls, noting the characteristics of each type of control

Chapter 10

• Identify the methods and techniques available for establishing a system of management over the accounting department, noting benefits and drawbacks associated with each

Chapter 11

• Identify the various steps needed to close the books and issue financial statements, noting key characteristics of each step as well as important issues to consider

Chapter 12

• Identify the different types of available financial reporting formats, noting key characteristics and usage, account classifications, and preparation requirements for each

Chapter 13

• Recognize the additional financial reporting requirements and subsequent tests for publicly-held companies related to interim reporting, segment reporting, and earnings per share
• Identify the role and responsibilities of the controller and chief operating decision makers
• Note the key elements in the public company closing process, including the additional steps needed to close the books, required forms, and disclosures for non-GAAP information

Chapter 14

• Identify the types of management reports to issue, noting common line items and reporting concerns
• Calculate the selling price variance given a set of circumstances

Chapter 15

• Identify the ratios that can be used by the controller, noting the characteristics of each type of ratio as well as applicable differences

Chapter 16

• Recognize the components that comprise a company’s budget, noting how the various components are assembled to create a complete budget package

Chapter 17

• Identify the main methods used to investigate requests for capital spending, noting the characteristics, focus, and usage of each
• Note the intent and usage of a post installation review

Chapter 18

• Recognize the steps required to select and install an accounting computer system, noting important topics to consider
• Note the nature of a bidders conference