Debits & Credits for Project Managers: Fundamentals of Accounting and Related Business Cycles
Have you ever found yourself leading a major project, but didn’t understand the accounting cycle behind it? It’s like being in a foreign country and not understanding the language and culture.
Corporations are in business to make money. A failure to understand the monetary flows and cycles may lead to major scope creep, project delays, and cost overruns. The financial transactions and cycles are the life blood of an organization. They move the money between the department and accounts right through to the financial statements.
This seminar is developed for project managers who have limited work experience in accounting or people who want a refresher. A good working knowledge of accounting is critical to successfully understanding, implementing, and maintaining business applications, such as
- Enterprise resource planning (ERP)
- Manufacturing & supply chain management (SCM)
- Human resources (HRIS) & payroll
- Customer resource management (CRM)
By understanding the dynamics between the money and business flows, you’ll be able to enhance your career by cultivating better working relationships with finance, audit, and accounting professionals. You’ll learn how to “think accounting” while witnessing the physical flows of material, people, and services throughout an organization.
- The language of accounting
- Debits, credits, and all those “T” accounts
- Month end close process
- Four financial statements & their relationships
- Internal controls
- Sales and collection cycle
- Payroll and personnel cycle
- Acquisition and payment cycle
- Inventory and warehouse cycle
- Capital acquisition and repayment cycle