Finance Essentials for the Professional

This course provides a basic understanding of financial management. It demonstrates how to read and understand key elements of financial statements and reports. Balance sheets, income statements and cash flow statements are also reviewed, and participants learn how to apply basic finance and accounting principles to budget preparation and analysis.

11-Nov-2008 -- 12-Nov-2008ChicagoUSD$2375register
NY Institute of Finance - Chicago9:00am - 4:30pm Instructional Method:
Group-Live		email course to a friend
Instructor(s): [ Richard Malekian; ] Tue Wed Level: Basicemail a sales rep
CPE Credits: 14print this course

Operations managers, project managers, program managers, department heads and anyone wishing to develop a basic understanding of finance.
No advance preparation required.
Students will be able to:
  • Explain the nature and role of financial management
  • Identify key financial statements and their interrelation
  • Discuss the content of financial statements and what
  • Identify the importance of accounting methods to financial analysis
  • Describe methods of forecasting, budgeting and planning
A basic understanding of business
"The instructor was able to explain the 'jargon' and its application to the real world."
Day One
Understanding Financial Management
  • Understanding financial management
  • Role of financial management in an organization
  • The business path/cycle
  • Communicating the goals & objectives of financial management
Participants answer a series of multiple-choice questions designed to confirm and consolidate their understanding of the role of financial management

Interpreting Key Financial Statements

  • Balance sheet overview
  • Assets, liabilities and stockholders' equity
  • Key accounting terms relating to the balance sheet
  • The difference between financial institutions and corporate/industrial balance sheets
Given a list of balance sheet items, participants recreate the balance sheet from which the items were extracted

Income Statement

  • Income statement overview
  • Key accounting terms relating to the income statement
  • Revenues, expenses and profitability measures
  • Difference between financial institutions and corporate/industrial income statements
Given a list of income statement items, participants recreate the income statement from which the items were extracted

Statement of Cash Flows

  • Overview of cash flow statements
  • How it affects the balance sheet and income statements
  • Difference between financial institutions and corporate/industrial statement of cash flows
Participants are given a cash flow statement and are required to assess the firm’s financial health based on cash flows.

Using the Financial Statements

  • Quality of financial reporting
  • Accounting policies, estimates
  • Timing of revenue and expense recognition
  • Notes to financial statements
  • Auditor's report

Day Two
Financial Management and Accounting Principles and Processes
  • Review basic accounting terms
  • Recording financial information
  • Basic accounting concepts
  • Ratio analysis
Participants are provided with a selection of ratios for an industrial corporate. They are required to examine the ratios and comment on what the ratios, individually and collectively, reveal about the performance and financial condition of the company

Forecasting

  • Projecting sales revenues and expenses during the planning period
  • Estimate the level of investment in current and fixed assets to support the sales
  • Determine financing needs during planning period
  • Analyzing historical data to identify trends
Creating the Forecast

Budgeting and Planning

  • What budgets do
  • Types of budgets
  • Guidelines for preparing a budget
  • How to relate your budgets and plans to your organization's strategic objectives
  • Budget implementation
  • Variance analysis
Preparing a simple Budget – Exercise will include a job aide to reinforce key terms, concepts, and processes. Comparing budget to reforecast.

Capital Budgeting

  • Defined
  • How and why capital budgeting is used
  • Breakeven analysis
  • Selecting projects
  • NPV
Selecting the Right Internal Capital Budgeting Project

Clients who register for this course will receive a complimentary 6 month subscription to the Financial Times and FT.com. The Financial Times is the world's most respected financial newspaper providing a broad assessment on finance, business and the industrial sector. Subscriptions will start within 6-8 weeks of the application process, and are limited to one per client. For questions about your subscriptions call 800-628-8088 or email uscirculation@ft.com. US and Canada enrollees only.

Lunch included for all students taking day classes.