Fundamentals of Finance and Accounting for Non-Financial Managers

American Management Association

How long?

  • from 2 days
  • online, in person

What are the topics?

American Management Association

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Who should attend

This program is designed for non-financial managers in every functional area of responsibility in all industries.

About the course

Acquire essential finance skills in 2 Days

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.

How You Will Benefit

  • 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

What You Will Cover

  • Key finance terms: assets, liabilities, capital, depreciation, capitalization, current ratio and others
  • The accounting process: journals and ledgers, how debits and credits work
  • Mastering the mind-set: see business in terms of dollars-and-cents decision options that pay off—short- and long-term
  • Basic accounting principles
  • Applying accounting conventions and guidelines
  • Developing working rules regarding your corporate financial statements
  • Using the balance sheet to examine assets and liabilities
  • Analyzing the income statement to assess revenues and expenses
  • The statement of cash flow: sources and uses of funds
  • Content and format of the annual report
  • Understanding the footnotes
  • Debt vs. equity financing
  • How leveraging can increase return to shareholders
  • Keeping your plan on target with budgetary controls
  • Using profit-planning tools, break-even analysis, financial forecasting
  • Cash flow: where cash comes from and how it's applied
  • Elements of cost accounting
  • Analyzing payback method, discounted cash flow, present value and present value index in making profitable capital investment decisions
  • Criteria for examining the performance of divisions and product lines
  • Understanding the cost of capital

Outline – Classroom

Basic Accounting Concepts

  • Understand the Importance of the Accounting Equation
  • Understand the Significance of Generally Accepted Accounting Principles (GAAP)
  • Understand the Accrual Process
  • Understand the Difference Between Accounting Profit and Cash Flow

How Accounting Works and Understanding Financial Statements

  • Understand the Purpose of and Terminology Associated with the Income Statement or Profit and Loss Statement (P&L), Balance Sheet, Statement of Retained Earnings, and Cash Flow Statement
  • Prepare a Simple Set of Financial Statements
  • Understand the Accounting Process, from the Recording of Business Transactions to the Preparation of Financial Statements
  • Understand How Various Business Transactions Affect the Financial Statements

Reviewing an Annual Report

Understand the Various Components of an Annual Report Know the Importance of Notes in Evaluating Financial Statements Understand the 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; Performance Compared to Its Competitors; and 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
  • Understand Traditional Cost Accounting and Its Limitations
  • Understand the Relevance of Activity-Based Costing in Today’s Business Environment

Capital Expenditure Analysis

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

Budgeting More Effectively

  • Understand the Role of Budgeting and Issues That Budgets Can Solve
  • Understand 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

Outline – Online

LESSON ONE

Learning the Basic Accounting Concepts

  • State the Accounting Equation and Describe the Relationship Among Its Components
  • Explain the Generally Accepted Accounting Principles (GAAP)
  • Describe Accrual-Basis Accounting
  • Differentiate Between Accounting Profit and Cash Flow

Understanding Financial Statements

  • Describe the Purpose of and Terminology Associated with the Following Financial Statements: Income Statement or Profit and Loss Statement (P&L), Balance Sheet, Statement of Retained Earnings, and Cash Flow Statement
  • Prepare a Simple Set of Financial Statements
  • Explain the Accounting Process from the Recording of Business Transactions to the Preparation of Financial Statements
  • Describe How Various Business Transactions Affect the Financial Statements

LESSON TWO

Reviewing and Evaluating an Annual Report

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

Calculating Financial Ratios

  • Calculate the Key Financial Ratios Using the Financial Statements
  • Use Financial Ratios to Evaluate an Organization’s Leverage and Profitability, Competitive Performance and Performance Compared with Budgeted Goals
  • 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

LESSON THREE

Calculating Financial Ratios (cont’d)

  • Calculate the Key Financial Ratios Using the Financial Statements
  • Use Financial Ratios to Evaluate an Organization’s Leverage and Profitability, Competitive Performance and Performance Compared with Budgeted Goals
  • 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

Cost Analysis and Profit Planning

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

LESSON FOUR

Capital Expenditure Analysis

  • Distinguish Between Capital Expenditure Budgets and Operating Budgets
  • Describe the Function of the Capital Budget
  • Explain the Time Value of Money
  • Recognize and Apply Different Methods of Evaluating Capital Expenditures and Monitoring Project Performance

Budgeting More Effectively

  • Describe the Role of Budgeting and Issues Budgets Solve
  • Identify 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

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Fundamentals of Finance and Accounting for Non-Financial Managers at American Management Association

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