Financial

Accounting Basics
A Financial Accounting
and Reporting
Boot Camp
June 25-27, 2007
Chicago, IL
September 24-26, 2007
New York, NY

Learn the basics of modern accrual-based

financial accounting for private and corporate
organizations

December 3-5, 2007

San Francisco, CA

Explore the accounting cycle and find out how

to read your organizations financial statements
Focus on analyzing business transactions and
recording them into financial statements,
including the income statement, balance sheet,
and statement of cash flows
Discover how to use basic financial analysis
techniques to identify potential problem areas
And much more

The International Leader

in Audit & Information
Security Training

www.misti.com
E-Z Access OAG100

Training Audit and Information Security Professionals for Over 29 Years

Financial Accounting Basics

A Financial Accounting and
Reporting Boot Camp
Seminar Objective
In this three-day session you will learn the
basics of modern accrual-based financial
accounting for private and corporate organizations. You will cover accrual accounting, which is the foundation for Generally
Accepted Accounting Principals; explore
the accounting cycle; and learn how to
read your organizations financial statements. You will focus on analyzing
business transactions and recording them
into financial statements, including the
income statement, balance sheet, and
statement of cash flows. You will learn
how and why adjusting journal entries are
made and how they can be used to manipulate financial results. The articulation of
financial statements will become clearer to
you as you gain a better understanding of
the relationships between the statements,
key account issues, and related risks. You
will find out how to use basic financial
analysis techniques to identify potential
reporting problem areas.
Note: Bring copies of your organizations
current public financial statements with you
(and a calculator) for a better understanding
of your business operations, financial
results, disclosures, and key risk areas.
Prerequisite: None
Learning Level: Basic
NASBA: Accounting

Who Should Attend

New Internal Auditors or others
who do not have accounting or
finance backgrounds; experienced
Internal Auditors who need a financial accounting refresher course;
new audit staff involved in S-OX,
COSO, external auditing, or internal financial auditing work; others
who manage the financial side of
their operational responsibilities

Online Registration
www.misti.com, E-Z Access OAG100

1. Financial Accounting and

Reporting
the definition of financial
accounting
financial reporting objectives
Generally Accepted Accounting
Principals (GAAP)
financial statement elements
accounting constraints,
definitions, and basic rules
class exercise
2. The Accounting Cycle
the balance sheet, income
statement, and statement of
retained earnings (or capital)
articulation of the financial
statements
the accounting equation
sequence of accounting steps
analyzing and recording
transactions: debits and credits
journal entries, ledger accounts,
and T account analysis
adjusting journal entries
preparing financial statements
closing entries
accrual vs. cash accounting
the statement of cash flows
class exercise
3. Determining Income
revenues, expenses, net income,
and net loss
matching revenues and expenses
continuity, accounting period,
and cut-off concepts
a thorough examination of the
adjustment process
adjusted trial balance and resulting classified financial statements
calculating earnings per share
class exercise

4. Cash and the Statement of

Cash Flows
cash and cash equivalents
cash vs. net income
preparing and understanding the
statement of cash flows: indirect
method
statement of cash receipts
and disbursements
class exercise
5. Short-Term Investments:
Marketable Securities
short-term investments defined
accounting treatments
illustrated accounting entries
application exercise and solution
6. Accounts Receivable, Notes
Receivable, and Related
Allowance Accounts
defining account and notes
receivables
estimating uncollectible accounts
expense
percentage of sales method
accounts receivable aging method
account write-offs
key financial ratios for managing
accounts receivable
class exercise
7. Retail Inventory Accounting
Basics
the periodic inventory system
the perpetual inventory system
FIFO, LIFO, weighted average,
and specific identification pricing
methods
the lower-of-cost-or-market rule
the effects of inventory misstatements on the financial statements
key management issues and
financial ratios for inventory
management
class exercise

Registration Information

About MIS Training Institute

Founded in 1978, MIS Training Institute is the international leader in audit and

information security training, with offices in the US, UK, and Asia. MIS
expertise is drawn on experience gained in training more than 200,000 delegates
across five continents. MIS offers conferences, in-house training, and more than
90 seminars in the areas of Internal and IT Auditing, Sarbanes-Oxley
Compliance, Information Security, Network Infrastructures, Operating
Environments, and Enterprise Applications, as well as Web-based training at
www.misti-online.com. MIS is a Euromoney Training Group company.

8. Manufacturing Inventory
Accounting Basics
the basics of job order costing
cost of goods manufactured
direct materials, work-in-process,
and finished goods inventories
applying manufacturing overhead
the basics of process costing
weighted average and FIFO
costing methods
class exercise
9. Property, Plant, Equipment,
and Other Long-Term Assets
capital vs. expense expenditures
determining cost of property,
plant, and equipment
straight line, production, and
declining-balance depreciation
methods
disposal of depreciable assets
natural resources and depletion
intangible assets
key financial ratios for managing
long-term assets
class exercise
10. Present and Future Value
Concepts
time value of money
simple and compound interest
calculating the future value of a
single sum and an ordinary annuity
calculating the present value of a
single sum and an ordinary annuity
present and future value
accounting applications
class exercise
11. Current Liabilities
accounts payable
notes payable and commercial
paper

accrued liabilities
unearned revenues
estimated liabilities
contingent liabilities and
commitments
key financial ratios for managing
short-term liabilities
class exercise
12. Long-Term Liabilities
major characteristics of bonds
accounting for bonds issued at
face value, premium, or discount
amortizing bond discounts and
premiums
other difficult to account for,
long-term liabilities: long-term
leases, pensions, mortgages, and
post-retirement benefits
financial leverage
key management issues and
financial ratios for managing
long-term debt
class exercise
13. Stockholders Equity and
Contributed Capital
the elements of stockholders
equity
common and preferred stock
common and preferred stock
dividends
treasury stock
stock dividends and splits
book value per share
class exercise
14. Financial Accounting Reference
Sources
text resources
Internet resources

Mail to MIS Training Institute, 498 Concord

Street, Framingham, MA 01702-2357
Call: (508) 879-7999
Fax: (508) 872-1153
E-mail: mis@misti.com
Web: www.misti.com, E-Z Access OAG100
IMPORTANT: Please refer to the Registration
Code on the mail panel when you register.
Tuition: The $1595 tuition covers seminar
materials, refreshments, and hospitality reception.
Tuition must be paid in advance by cash, company
check (US dollars), VISA, MasterCard, Diners
Club, or American Express. Add $100 if you
register five business days or less before the session
start date.
Class Hours: Class is held from 8:30 am - 5:00 pm
daily and concludes at 1:00 pm on the last day.
The High-Yield/No-Risk Guarantee: Attend
this seminar and receive information, tools, and
techniques that will help you do your job better. If
you do not, simply tell us why on your company
letterhead within 30 days of the event and we will
give you a full credit toward another seminar.
MIS Cancellation Policy: A full refund less a $100
administrative fee will be given for cancellations
received 15 days or more before the event. Tuition
is non-refundable for cancellations made 14 days or
less before the event. You may, however, transfer
your tuition to another MIS Training Institute
event, less a $195 administrative fee. Transfers are
valid for 12 months from the time of initial cancellation. Substitutions are welcome at any time.
Those who do not cancel before the event date and
who do not attend are responsible for the full nonrefundable, non-transferable tuition. To cancel, call
customer service at 508-879-7999.
Schedule Changes: MIS may occasionally find it
necessary to reschedule, relocate, or cancel sessions
and will give registrants advance notice of such
changes. MIS will not be responsible for penalties
incurred as a result of non-refundable airfare
purchases or hotel reservations.
CPE Credits: Participants are eligible for 22 hours
of CPEs.
Hotel Information: Hotel arrangements should
be made after you register for a seminar to ensure
lowest available rates. Please contact the hotel
directly (phone numbers are listed below) and be
sure to inquire about corporate, AAA, AARP, or
other discounts for which you may be eligible.
Chicago:
Palmer House Hilton
312-726-7500
New York:
Park South Hotel
212-448-0888
San Francisco: Hyatt at Fishermans Wharf
415-563-1234

Financial Accounting
Basics

The International Leader

in Audit & Information
Security Training

498 Concord Street

Framingham, MA 01702-2357

PRSRT STD
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AYER, MA
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A Financial Accounting
and Reporting Boot Camp

IMPORTANT: Please have your Registration Code available

when you register.

Accounting - often called the language

of business - is the process of recording,
classifying, reporting, and analyzing
financial data. And while the
accounting requirements of every
business vary, all organizations need a
way to keep track of their money.

Registration Code: OAG100D/ PDF

- AllBusiness.com

www.misti.com
E-Z Access OAG100
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Contents of this brochure copyright 2007 MIS Training Institute, Inc. All rights reserved. Printed in U.S.A.

MIS Training Institute

Phone: (508) 879-7999 E-mail: mis@misti.com