Finance for Non-Financial Managers
Overview
Get a basic understanding of financial management, sufficient to interpret reports, draft budgets, cost products, and make informed financial decisions.
If you're looking to grow your career and take on greater responsibility within your organization, you'll need to demonstrate a basic understanding of financial management—even if you're not in a financial role. You don't have to be a numbers person! You just have to appreciate their role in business. In this course, accounting professor Jim Stice helps you develop the financial acumen necessary to interpret financial reports and make decisions based on available data, manage inventory and receivables, create an accurate budget, and cost a product or service. Plus, learn how to analyze your customers, understand your income taxes, and communicate your contribution to the bottom line.
If you're looking to grow your career and take on greater responsibility within your organization, you'll need to demonstrate a basic understanding of financial management—even if you're not in a financial role. You don't have to be a numbers person! You just have to appreciate their role in business. In this course, accounting professor Jim Stice helps you develop the financial acumen necessary to interpret financial reports and make decisions based on available data, manage inventory and receivables, create an accurate budget, and cost a product or service. Plus, learn how to analyze your customers, understand your income taxes, and communicate your contribution to the bottom line.
Syllabus
Introduction
- How to make wiser business decisions
- Don't fear the numbers
- The purpose of finance
- Entrepreneurs, investors, and facilitators
- What is accounting?
- Overview of the financial statements
- What to look for in a balance sheet
- Overview of the income statement
- Interpreting the statement of cash flows
- What is financial ratio analysis?
- Calculating return on equity
- A deeper look at the DuPont framework's three components
- The DuPont framework: Ford and General Motors
- What is the next step in the analysis?
- Managing cash through the operating cycle
- Strategies for cash management
- Managing receivables and inventory
- Considering all of your costs: Fixed, variable, and the contribution margin
- How to calculate your break-even point
- Drafting a budget
- Review of the budgeting steps
- Understanding income taxes
- Tax brackets
- Tax deductions and tax credits
- Next steps
Taught by
Jim Stice and Kay Stice
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