2218 - AMA: Finance and Accounting for Non-Financial Managers

Overview

Duration: 2.0 days

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.

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.

Objectives

• 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

Content

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

Audience

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

Prerequisites

2 video-based eLearning modules required before the seminar:

• Introduction to Accounting
• Introduction to Finance

AMA Blended Learning combines instructor-led training with online pre- and post seminar assessments, tune-up courses and other resources to maximize your training goals. Through a blend of proven instructor-led seminars and powerful online technology, AMA Blended Learning provides a compelling and more comprehensive experience for the learner—producing a greater return-on-investment for the employer and the seminar participant.

Certification

This course is not associated with any Certification.