Business Finance – Introduction to Financial Accounting for Non-Accountants

Business finance, put simply, is the money a business needs to establish and run its business. It involves the ways in which a company obtains and uses money and in the broader context, business finance is about strategies for earning, saving and investing revenue.

Business finance includes the information contained in financial documents such as profit and loss statements, balance sheets and cash flow statements. It also covers strategies that businesses typically use to manage and raise money, such as leveraging future rather than present value.

As the legal advisor within a client’s advisory team of lawyers, corporate financers and accountants, an awareness of how money flows and grows is essential for a corporate lawyer so you understand the strategic decisions behind managing a business’s finances.

This module is aimed at junior and senior associates.

Successful business finance starts with the financial statements that track a company’s financial activity. Accurate financial statements will provide information for bankers and investors who rely on accurate financial statements such as a profit and loss statement, balance sheet and cash flow statements for the critical financial information they need to assess a business’s financial health and risks.

This module is designed for non-specialists with little or no background in accounting, the course will guide attendees through the maze of financial phrases and accounting concepts and strategies in a clear and easy-to-understand way.

Some key topics that are explored during this session include: 

  • Improve your financial literacy, abilities and confidence to discuss financial information with clients, banks, accountants and others.
  • Provide you with a basic understanding around the maintenance of accounting records and their purpose.
  • Give you an understanding of the information in the Profit or Loss Account, the Balance Sheet and the Statement of Cash Flow.
  • Equip you with the financial tools to help evaluate business situations facing clients.
  • Help you to better understand the ‘jargon’ of accountants

3 hour online video