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Overview

"If you are a manager and don't have an accounting or finance background, this course is a MUST. The base knowledge gained will help you in the budgeting process and in general board room discussions."
- Jeremy Wise, Manager of Marketing and Member Services, Coosa Valley Electric Cooperative, Inc.


" [The instructor] does a fabulous job of making this course relatable to anyone, regardless of their accounting knowledge or position in the co-op."

- Melissa Meyer, Director Billing and Account Services, Cimarron Electric Cooperative


Follow the money — understanding cooperative finance, financial statements and practices is essential for connecting the dots between your department’s decisions and activities and the organization’s financial position. This is an opportunity for you, as a non-accountant, to ask questions and gain insight into what the numbers mean, how they relate to each other and how you impact them. Hands-on activities and scenarios will explore and clarify cooperative finance terminology, reporting and strategies.

This course is ideal for any co-op employee who wants to learn and understand cooperative finance.

NOTE: This course is an updated version of the 655 Accounting for Non-Accountants course. 5101.1 builds on the 655 to better target the core business acumen competencies needed by cooperative employees.

Learning Objectives

After completing the course, participants will be able to:

  • Define basic accounting concepts and processes.

  • Interpret the three primary financial statements.

  • Describe how departmental operations impact financial statements.

  • Calculate common key financial ratios.

  • Differentiate between margins and cash.

  • Explain the basic concepts of the financial audit.

  • Summarize the employees’ roles in maintaining the integrity of internal controls and accuracy of financial statements.

  • Describe key ideas for improving the budgeting process.

Key Topics
  • Accounting basics
  • Accounting processes
  • Financial statements
  • Financial audits
  • Financial statement analysis
  • Capital credits
  • Equity management
  • Budgeting

Certificate Program

Cooperative Career Essentials Program

Credits
  • NRECA – 1 credit
  • CEU – 0.6 credit




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Competencies

CORE COMPETENCIES
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ROLE-SPECIFIC
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SUPERVISORY, MANAGEMENT AND LEADERSHIP
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