Fundamentals of Finance and Accounting for Non-financial Managers
Why Choose this Training Course
Overview
In today’s business world, your success and effectiveness may well depend on how well you can handle “the numbers.” Having basic skills in finance and accounting will positively affect all parts of your job including managing people, setting short- and long-term objectives and controlling costs. Without a doubt, the ability to understand and speak this “universal language of business” is a skill no manager can afford to be without.
What are the Goals?
To Gain confidence and increase your comfort level in working with financial facts and figures
To Understand accrual vs. cash accounting
To Understand financial statements and how they tie to one another
To Interpret the most common financial reports
To Analyze statements using ratios
To Describe how the budgeting process works
To Identify the items necessary to monitor performance
Who is this Training Course for?
This fundamentals of finance and accounting course is suitable to a wide range of professionals especially those without a prior accounting background:
Corporate Planners
Junior and Senior managers
Investment bankers and Fund managers
Investment analysts
Media analysts and commentators
Government agencies - Regulators
Anyone requiring a basic understanding of the concepts of finance and accounting
Daily Agenda
DAY ONE: How to understand and use the “language of business”
What every manager needs to know about the basic building blocks of accounting and finance
How to cut through the jargon to translate financial data into meaningful concepts and understandable terms
Financial terms your business vocabulary must include
How to present your ideas and plans in the appropriate financial terms
How to avoid the most common sources of confusion between accountants and managers
Important ways understanding and applying Generally Accepted Accounting Principles (GAAP) will make you a more effective manager
Which concepts of budgeting all managers need to understand
Types of budgets businesses use
How the budget process works
Understand the underlying logic of accrual accounting
The important differences between figuring expenses and revenues on a cash vs. accrual basis
How to develop workable rules for setting up financial statements
When and why to capitalize expenditures
How to use depreciation to reduce taxable net profit
Payables and receivables—what every manager must know
“Profit” and “loss”—understanding the real meaning of each
Powerful financial concepts you’ll use throughout your career
Financing business—where the money comes from
Capital structure—Equity vs. debt
DAY TWO: Generally Accepted Accounting Principles—How to set up financial statements and reports
How to understand and interpret the most common financial reports
How to compute net worth and stockholders’ equity
How to account for assets, liabilities, equity, revenue and expenses
Understanding the basic “T” accounting system
Sorting business transactions into the appropriate debits and credits
Checking for accuracy: The value of taking a trial balance
Recording business transactions—A summary of the information
Understanding the basics of the accounting cycle—Professional tips on how to prepare financial statements
DAY THREE: PART ONE - How to use the financial tools available to you to make better management decisions
3 measuring sticks for evaluating the financial performance of any endeavor
Planning for capital expenditures: Payback method, discounted cash flow, net present value and internal rate of return
How you play a role in controlling cash flow even if your department is not a profit center
How to report financial information in the proper format
How to use a simple formula for figuring break-evens
PART TWO - Using financial statements to analyze performance and guide decisions
Interpret the cash flow statement for more effective planning
The key financial ratios to consider when analyzing financial statements
How to quickly decipher balance sheets, income statements and cash flow reports
Quick ways to find the vital numbers in any financial report
Spotting financial trends to capitalize on opportunities and correct emerging threats
How to use accounting principles to make realistic growth projections
Important elements to look for in annual reports.
