Description: This interactive course will introduce accounting principles with respect to the preparation of accounting information, its use in the operation of the organization and financial reporting. Focus will be on understanding the fundamentals of accounting, debits and credits, accounting transactions and the preparation of financial statements.
Objectives:
- Understand debits, credits and the use of T accounts.
- Understand the difference between assets and liabilities and how to determine net assets.
- Learn how to analyze your organization’s transactions and determine which amounts go into which accounts.
- Create chart of accounts and enter transactions into accounts.
- Practice journalizing transactions.
- Practice transferring data from general journal to trial balance.
- Hands on experience preparing financial statements from trial balance.
This training will focus on the needs of Native Community Development Financial Institution (CDFI) and Native American Financial Institution (NAFI) practitioners or those seeking to start a Native CDFI or NAFI. Specifically, those practitioners working in finance/accounting, Board members (who may need to review/provide oversight to organizational finances), and executive directors or management tasked with reviewing/understanding accounting/finances for their organization.
