Course Overview

Can you demonstrate your value and ROI to your boss? Are you able to interpret financial reports and make decisions based on the data they provide? Can you draft an accurate budget? Can you justify your ideas in dollars and cents?

You didn’t get to this point in your career only to be held back by weak financial skills. This program for non-financial managers makes the basics of finance accessible to anyone in just 2 days.

You’ll learn how to:

Interpret and respond appropriately to financial information
Communicate your contribution to the bottom line
Uncover drains on profitability
Make smarter decisions that deliver higher profitability
Financial skills are fundamental to any managerial position. Learn how to think finance, and you’ll expand your career opportunities. From accruals to write-offs to receivables and payables, this workshop shows non-financial managers the concepts, tools, and techniques that can help make each decision pay off—on the job and on the bottom line.

Who should attend

Non-financial managers in every functional area of responsibility in all industries.

Course Objectives

Get a firm grasp of the numbers side of your job
Gain greater confidence with a working knowledge of business financials
Learn how to “think finance” and translate performance into financial terms
Cultivate proactive working relationships with finance professionals and enhance your value to the organization
Understand the business dynamics of dollars and cents—and take initiatives that meet your short- and long-term goals
Take the guesswork out of your decision making and deliver a better bottom line
Expand your professional expertise—and your career opportunities

Outline: Fundamentals of Finance and Accounting for Non-Financial Managers (2218)

Learning Objectives

Discuss the Relationship Between the Information Presented on Basic Financial Statements.
Read and Interpret Basic Financial Statements.
Understand How to Evaluate a Company’s Financial Health Based Upon the Information Presented in its Annual Report and 10-K Report.
Calculate Key Financial Ratios to Analyze a Company’s Financial Position And Management Performance.
Identify Other Sources of Financial Information.
Improve Their Company’s Profitability Through an Understanding of Cost and Break-Even Points.
Compare the Rate of Return for Various Investments and Determine Which Are Good Uses of the Firm’s Assets

Basic Accounting

Discuss the Importance of the Accounting Equation
Explain the Significance of Generally Accepted Accounting Principles (GAAP)
Describe the Accrual Process
Differentiate Between Accounting Profit and Cash Flow

How Accounting Works and Understanding Financial Statements

Describe an Income Statement or Profit and Loss Statement (P&L).
Discuss a Balance Sheet and its use.
Identify a Statement of Retained Earnings
Describe a Cash Flow Statement.
Prepare a Simple set of Financial Statements.
Summarize the Accounting Process, from the Recording of Business Transactions to the Preparation of Financial Statements.
Share How Various Business Transactions Affect the Financial Statements.

Reviewing an Annual Report

Identify the Components of an Annual Report
Explain the Importance of Notes in Evaluating Financial Statements
Describe an External Auditor’s Role and the Significance of the Opinion Letter

Evaluating a Company’s Financial Statements

Calculate the Key Financial Ratios Using the Financial Statements
Use Financial Ratios to Evaluate an Organization’s Liquidity, Leverage and Profitability; The Performance of an Organization as Compared to Its Competitors; and An Organization’s Performance Compared with Budgeted Goals
Identify Sources of Financial Information Beyond the Financial Statements
Use the DuPont Formula to Evaluate Management Performance
Use the Concept of Economic Value Added (EVA®) and Cash Flow Return on Investment (CFROI) to Determine if a Segment of an Organization is Adding Value to the Business

Improving Profitability Through Cost Analysis and Profit Planning

Differentiate Between Fixed and Variable Costs
Help Your Organization Improve Profitability Through the Use of Breakeven Analysis, Contribution Margin Analysis, and Direct Costing in Appropriate Situations
Explain Traditional Cost Accounting and Its Limitations
Discuss the Relevance of Activity-Based Costing in Today’s Business Environment

Making Major Financial Decisions with Capital Expenditure Analysis

Define the Capital Budget
Explain Why Cash Has a Time Value
Recognize and Apply Different Methods of Evaluating Capital Expenditures and Monitoring Project Performance

Budgeting More Effectively

Discuss the Role of Budgeting and Issues That Budgets Can Solve
Describe the Budgeting Process
Identify Different Types of Budgeting Systems in Use Today
Analyze Budgets for Different Purposes
Recognize and Apply Different Methods of Evaluating and Monitoring Operating Performance

Course Highlights

Review Program Summary and Expectations
Determine the Actions That You Will Take When Returning to Work Based on What You Have learned in the Program
Generate a List of Questions to Take with You and Further Your Learning

Fundamentals of Finance and Accounting for Non-Financial Managers (2218)