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Booth School of Business

Financial Analysis for Nonfinancial Managers

Financial Analysis for Nonfinancial Managers
Dec 9—13, 2019
5 days
Chicago, Illinois, USA
USD 10950
USD 2190 per day
Jun 15—19, 2020
5 days
Chicago, Illinois, United States
USD 10950
USD 2190 per day
Dec 7—11, 2020
5 days
Chicago, Illinois, United States
USD 10950
USD 2190 per day

How it works

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Description

Gain a practical understanding of how to interpret and use internal and external financial reports to inform and influence the decision-making process. Once you know how to translate this financial information, you’ll be able to apply it to your business immediately.

As a leader in your organization, having a firm understanding of financial principles is crucial to achieving strategic growth. This seminar will increase your ability to interpret financial reports, better communicate with financial officers in your organization, evaluate your unit's financial performance, and make sound financial decisions.

After completing the program, you will be better able to communicate the financial goals and performances of your department within your organization as well as to outside sources.

By attending this program, you will:

  • Read, understand, analyze, and interpret internal and external financial reports for the purpose of using this information to make better business decisions.
  • Understand accounting rules and principles and gain an appreciation for the effect of US GAAP and IFRS accounting methods on the reported financial results.
  • Enhance your ability to forecast financial performance
  • and better manage your financial resources.
  • Use the concept of the time value of money and decision metrics such as net present value (NPV), internal rate of return (IRR), and payback to make investment decisions.
  • Increase your effectiveness in strategic planning and decision-making.

PRE-WORK TO LAY THE FOUNDATION

Participants get access to a web-based, learner-driven program to help them build their financial acumen. Each module features self-tests, allowing them to tailor their learning and focus their time on the modules least familiar to them. This multi-media tool is used as a way to establish a baseline of knowledge to make the time in the classroom as productive as possible.

PROGRAM OUTLINE

Analyzing Historical Performance

  • Financial statements: balance sheet, income statement, and statement of cash flows
  • Accounting rules and conventions: GAAP and IFRS, historical costs, matching
  • Financial analysis tools: ratio analysis, multiples and comparables, cash flow analysis
  • Special topics: goodwill and intangibles, deferred taxes, restructuring charges, segment reporting, earnings management

Forecasting Financial Performance

  • Projecting financial statements (pro formas)
  • Present values, capital budgeting, and project evaluation
  • Income taxes and investment decisions

Overview of Firms' Internal Information Systems

  • Objectives of cost accounting systems: introduction to product costing, integration of the costing system with the financial reporting system, use of cost data to support pricing decisions
  • Discussion of costing systems in non-manufacturing environments, especially in service industries
  • Limitations of traditional costing systems; signals of problems

Activity-based Costing and Activity-based Management Systems

  • How they work and their advantages and disadvantages

Using Cost Information to Understand

  • Profitability and Corporate Strategy
  • Linking the costing system to corporate strategy
  • Applying costing methods to understand customer profitability
  • Cost behavior: fixed versus variable costs, break-even analysis, contribution margin analysis, sunk, incremental, and opportunity costs
  • Applications to outsourcing decisions and adding or dropping products

Planning, Control, and Evaluation Systems

  • Preparing and using master and flexible budgets
  • Analyzing budget variances
  • Measuring performance: financial and nonfinancial measures such as ROI, EVA®, and balanced scorecard
  • Designing incentives to motivate profit-maximizing behavior

Who should attend

This program is useful for mid- to senior-level executives without formal training in finance and accounting. This course also attracts consultants, small business owners, scientists, engineers, healthcare professionals, and other professionals who want to increase their financial acumen to make better business decisions.

Titles include: C-suite, VP, president, owner, general manager, director, and chief counsel.

Those familiar with finance and accounting principles and interested in a more advanced program should refer to the Finance for Executives program.

Experts

Phil Berger''s research interests are mainly in the areas of financial reporting and corporate finance. Some of the major themes addressed in his work include: (1) the valuation consequences of diversification strategies; (2) the use of financial statement data to value real options; (3) the impa...
Haresh Sapra studies the real effects of accounting measurement policies, disclosure regulation, and corporate governance. His current research deals with issues of disclosure, transparency and financial reporting for financial institutions. For example, how do accounting measurement rules impact...
Kathleen Fitzgerald is known at the University of Chicago as a superb educator. She brings a remarkably wide array of experience as an educator and a practitioner to the classroom. She has taught courses in Investments, Corporate Finance, Financial Accounting, Money and Banking, International Fin...
Hans Christensen studies international accounting harmonization, debt contracting, and transparency regulation in financial and non-financial markets. His papers have been published in the Journal of Accounting & Economics, the Journal of Accounting Research, Review of Accounting Studies, and...

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Next dates

Dec 9—13, 2019
5 days
Chicago, Illinois, USA
USD 10950
USD 2190 per day
Jun 15—19, 2020
5 days
Chicago, Illinois, United States
USD 10950
USD 2190 per day
Dec 7—11, 2020
5 days
Chicago, Illinois, United States
USD 10950
USD 2190 per day

How it works

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