This course covers what everything business people and managers need to know about accounting and finance. It is directed toward the businessperson who must have financial and accounting knowledge but has not had formal training in finance or accounting-perhaps a newly promoted middle manager or a marketing manager of a small company who must know some basic finance concepts. The entrepreneur or sole proprietor also needs this knowledge; he or she may have brilliant product ideas, but not the slightest idea about financing. The goal of the course is to provide a working knowledge of the fundamentals of finance and accounting that can be applied, regardless of the firm size, in the real world. It gives nonfinancial managers the understanding they need to function effectively with their colleagues in finance.
Course Publication Date: October 02, 2015
This course is available with NO ADDITIONAL FEE
if you have an active self study membership
or can be purchased for $145.00
|Delivery Method:||Self Study
|Level of Knowledge:||Basic
|Prerequisites:||Basic Math and Accounting
|Recommended Field of Study:||Accounting
- Identify the non-financial manager’s concern with financial planning.
- List characteristics of capital investment.
- Recognize the responsibilities of financial managers.
- Distinguish between different business entities.
- Identify the importance of cost data.
- Understand and define different types of costs.
- Recognize costs and their allocation.
- Recognize financial components critical to decision analysis.
- Understand and define contribution margin.
- Apply the contribution margin ratio.
- Recognize the relationships among costs, volume, and profit.
- Identify the what and why of break-even sales.
- Identify key financial ratio concept.
- Define the importance of sales mix and sales margin ratio.
- Identify relevant costs in manufacturing process.
- Recognize components for making financial decisions.
- Understand costs used in future business directions.
- Identify importance and value of sales forecasts.
- Recognize how sales forecasts and budgets affect other operational budgets.
- Define variance analysis and its usefulness to financial analysis.
- Determine when variance analysis should be applied.
- Recognize the use of flexible budgets in performance reports.
- Identify and list cost variances.
- Clarify and classify variances in marketing, manufacturing and labor.
- Define working capital.
- Describe how to finance an asset.
- Identify ways to improve cash management.
- Recognize ways to accelerate cash receipts or delay cash payments.
- Recognize ways to improve rate of return with accounts receivable and credit.
- Understand and analyze accounts receivable values.
- List inventory management considerations.
- Understand and apply inventory analysis.
- Identify ways to optimize the economic order quantity.
- Recognize future values and different loan types.
- Apply the concept of time value of money.
- Understand and identify capital rationing decisions.
- Identify the types of capital budgeting decisions.
- Recognize each of basic capital investment analysis techniques.
- Understand the various types of depreciation methods.
- Compute the ROI on an investment.
- Recognize and apply the rate of return on investments (ROI).
- Explain the basic components of the Du Pont formula used to improve profit.
- Define a responsibility center and list the types of responsibility centers.
- Recognize the value of transfer pricing.
- Identify sources of short-term financing.
- Recognize the value and process of issuing commercial paper and other financing activities.
- Define the use of intermediate-term bank loans.
- Understand the advantages of revolving credit.
- Define the process of investment banking.
- Define the best use of venture capital financing.
- Recognize examples of types of long-term debt and their usefulness.
- Understand and give examples of equity securities.
- Recognize the different financial statements and their uses.
- Identify the major components of the balance sheet.
- Define the value of and the components of the cash flow statement.
- Define the double entry system and the accounting equation.
- Apply transaction analysis to simple business transaction in terms of the accounting model: Assets.
- List and explain the entries entered into the journal.
- Recognize the use and application of ledgers.
- Evaluate different financial ratios.
- Demonstrate how to work with financial ratios.
- Apply industry comparison ratios and trend analysis.