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Finance and Accounting for Nonfinancial Managers
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A manager's performance is frequently measured by how effectively they oversee departmental budgets. With this training course, you will apply the fundamentals of finance to improve budget management, increase potential profits, assess the financial performance of business activities, and transform accounting concepts into decision-making tools that you can successfully apply.
You Will Learn How To
- Integrate financial concepts and policies into the management decision and budgeting process
- Evaluate the financial viability of projects
- Employ cash flow to analyze business status
- Calculate the cost of business activities
- Control business operations through effective budget management
Important Course Information
Course Preparation:
- Attendees must bring a four-function calculator that performs addition, subtraction, multiplication and division functions
Course Outline
- Why Finance Matters
- Demystifying financial jargon
- Generally Accepted Accounting Principles (GAAP)
- Public vs. private financial methodologies
- Accountability and responsibility
- The Key Building Blocks of Financial Control
Decoding the income statement
- Differentiating income, operating and capital expense items
- Putting the pieces together to measure profit and business success
- When a sale becomes a sale: sales recognition
Analyzing the balance sheet
- Evaluating the worth of an established business
- Distinguishing between fixed and current assets and liabilities
- Defining depreciation and amortization
- Linking the income statement to the balance sheet
- Shareholder equity
- Cash Flow: The Lifeblood of Organizations
Making the key connection between business activity and cash flow
- Differentiating between cash flow, profit and net worth
- Connecting cash management to line management
- Credit and cash flow
- How much cash is enough?
The importance of depreciation and amortization
- How depreciation impacts your budget over time
- Methods for calculating depreciation
- Advantages and disadvantages of various key methods
- Impacting the management budget
- Managing a Profit or Cost Center
Selecting the best costing method for your situation
- Absorption, marginal, activity-based costing
- Determining costs in service businesses
- Avoiding costing traps
The unique features of project costing
- Estimating project duration and future costs
- Leveraging debt to your advantage
- Anticipating problems using cost control
- Making estimates based on incomplete information
Choosing projects that optimize shareholders' interests
- Making the financial case using ROI
- Advantages and disadvantages of ROI, payback, discounted cash flow (DCF) and NPV techniques
- Selecting viable projects
- A Manager's Guide to Budgeting
Recognizing that budgets are more than numbers
- Budgeting as sociology, not accounting
- The politics of getting a budget approved
- The relationship between a well-designed budget and how others measure your performance
- Managing effectively within budgeting constraints
Comparing budget approaches
- Top-down
- Bottom-up
Types of budgets
- Incremental
- Zero-based
- Rolling
- Others
- Developing the budget numbers
Budgeting as a planning and control tool
- Using the budget to control the business
- Limiting factors
- Budget process and coordination
- Forecasting sales revenues and expenses
- Adjusting the budget to reality
- Pulling It All Together
- Applying financial tools and concepts in the real world
- Evaluating a company's health through its annual report
- Comparing public and private sector practices
- Recognizing potential traps in creative accounting
Convenient Ways to Attend This Instructor-Led Course
Hassle-Free Enrolment: No advance payment required to reserve your seat.
Tuition due 30 days after you attend your course.
In the Classroom
Live, Online
Private Team Training
In the Classroom — OR — Live, Online
Tuition — Standard: $2745 Government: $2415
Dec 19 - 21
(
3 Days)
9:00 AM - 4:30 PM EST
Online (AnyWare)
Reserve Your Seat
Mar 13 - 15
(
3 Days)
9:00 AM - 4:30 PM EDT
Rockville, MD / Online (AnyWare)
Reserve Your Seat
Jun 19 - 21
(
3 Days)
9:00 AM - 4:30 PM EDT
New York / Online (AnyWare)
Reserve Your Seat
Sep 4 - 6
(
3 Days)
9:00 AM - 4:30 PM EDT
Rockville, MD / Online (AnyWare)
Reserve Your Seat
Dec 4 - 6
(
3 Days)
9:00 AM - 4:30 PM EST
New York / Online (AnyWare)
Reserve Your Seat
Guaranteed to Run
When you see the "Guaranteed to Run" icon next to a course event, you can rest assured that your course event — date, time, location — will run. Guaranteed.Private Team Training
Enroling at least 3 people in this course? Consider bringing this (or any course that can be custom designed) to your preferred location as a private team training.
For details, call 1-888-843-8733 or Click here »
Tuition
Standard
Government
In Classroom or
Online
Standard
$2745
Government
$2415
Private Team Training
Course Tuition Includes:
Training Hours
Standard Course Hours: 9:00 am – 4:30 pm
*Informal discussion with instructor about your projects or areas of special interest: 4:30 pm – 5:30 pm
Enhance Your Credentials with Professional Certification
Learning Tree's comprehensive training and exam preparation guarantees that you will gain the knowledge and confidence to achieve professional certification and advance your career.
Earn 17 PDUs
PMI, the Registered Education Provider logo, PMP, CAPM, PMI-ACP,
and PMBOK are marks of the Project Management Institute, Inc.
This course is approved by PMI® for 17 professional development units (PDUs). For more on the Project Management Institute and a full list of courses approved for PDUs.
Technical : 9 PDUs
Leadership : 1 PDUs
Business & Strategic : 7 PDUs