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SBX8108

Course
SBX8108
Course Title
Business Finance for Non-Finance Personnel

Description

Are you ready to really understand your company’s books, cash flow and how to increase profits? Using practical explanations and real-life examples, this course will show you how money flows through a typical business. You will learn the basics of how a business operates, including how to develop successful business strategies and how to use financial statements to make better business decisions.

Whether you're an employee, sales executive, supervisor or manager, this six-week online course will help you understand basic financial information. As a non-financial employee and manager, start now to grow your confidence and understanding of business finance.

Offered in partnership with ed2go.

Objectives

  • Gain an introduction to financial knowledge and business acumen, and start thinking like a business owner.
  • Understand a basic business model, financial flow, and how to apply that knowledge to personal finances.
  • Learn more basic financial terminology and get an introduction to financial strategy and ratios.
  • Grasp the fundamentals of the basic financial statements, learn why finances are recorded, and know when to use each statement.
  • Take a look at a sample Income Statement, review the information it presents, and gain some techniques for analyzing what it tells you about a company's financial health.
  • Review a sample Balance Sheet to see what information is required, how it's organized, and learn how to analyze the numbers to identify any issues.
  • Familiarize yourself with the Statement of Cash Flows to see what information is required, how it's organized, and learn how to analyze the numbers to identify possible issues with the company's cash position.
  • Understand the items that are required in the Management's Discussion and Analysis (MD&A), its purpose, and its use for making business and financial decisions.
  • Discover how to use the business decision-making process to make strategic decisions that will have a positive effect on company financials.
  • Examine the importance of cost cutting in business and use the decision-making process to develop strategies that will cut expenses and help you determine a course of action.
  • Master how to use the decision-making process to develop strategies to improve inventory turn and increase cash flow.
  • Understand the components of the SWOT analysis, its use in strategic management, and a process for strategy implementation.

Content

Wednesday - Lesson 01

In this first lesson, you'll learn the difference between financial knowledge and business acumen in a way that's easy to understand. You'll also be introduced to a few basic financial strategies and explore what business finance can do for you, your company, and your personal finances.

Friday - Lesson 02

To gain a strong foundation in business finance, you need understand the basic business model, its components, and how they fit into the larger organization. You'll see how finances flow through the business and begin to master basic financial terminology. At the end of this lesson, you'll be able to apply what you've learned to your personal household and finances.

Wednesday - Lesson 03

Do you know what ROI refers to? What's a Sales Forecast, and why is it so important? In this lesson, you'll learn these terms and many more. You'll also gain an understanding of financial forces, which provide a foundation for developing financial strategies and driving profit. You'll wrap up the lesson with a look at a very real example of the impact of unplanned expenses on the bottom line.

Friday - Lesson 04

Financial statements can be one of the most mysterious parts of business finance. As you'll see, however, all you need is basic information about what is reported and why to make sense of the three basic financial statements. With this lesson under your belt, you'll be ready to take on the next crucial step in mastering business finance: recording and tracking the annual finances on these statements.

Wednesday - Lesson 05

In this lesson, you'll gain a broader understanding of the first of the financial statements we'll be considering: the Income Statement. You'll visit the hypothetical company Bouncy Balls Incorporated (BBI), and examine its annual statement to comprehend what all these numbers mean. You'll also learn what's recorded on the Income Statement and how to analyze it using financial ratios to gain some valuable perspective on how BBI is doing.

Friday - Lesson 06

Still working with the fictitious company BBI, you'll explore what information is included in the Balance Sheet, how it differs from the other financial statements, and how to analyze it using financial ratios. You'll continue your work to determine BBI's financial position and see where changes in business strategy may be needed.

Wednesday - Lesson 07

You'll finish your introduction to the basic financial statements as you review the Statement of Cash Flows. You'll see how financial personnel use this statement as you continue your tour of BBI. As you work through the Statement of Cash Flows, you'll start to put all of the information together to improve your understanding of BBI's financial position.

Friday - Lesson 08

In this lesson, you'll listen in at a roundtable meeting of executives at BBI as they discuss the company's financial statements. The meeting offers a great opportunity for you to get an insider's look into how executives develop another component of a company's financial filings—the Management's Discussion & Analysis (MD&A). As you learn to interpret this filing, you'll gain valuable insights into how you can understand the "story behind the numbers" for any company.

Wednesday - Lesson 09

Now you're going to put all of the financial knowledge you've gained during this course to work as you consider some strategies for improving BBI's financial condition. You'll explore how executives bring their financial knowledge in line with business needs to make solid business decisions that will have a positive impact on the company financials.

Friday - Lesson 10

In this lesson, you'll tackle a key issue in business: cost cutting. Expenses are such a huge part of business. Here, you'll see how to use your new knowledge of financial reporting and your business acumen skills to develop strategies that have a positive impact on a company's bottom line.

Wednesday - Lesson 11

Continuing your exploration of financial strategy, you'll use the decision-making process to examine the inventory situation at BBI and develop strategies to increase supply and production efficiencies. You'll also see how to develop strategies to improve the BBI cash position so that more things can be done to increase the bottom line.

Friday - Lesson 12

Now that you've gone through various strategies to increase sales, decrease expenses, and better manage company assets, it's time to see how to complete an overall strategic analysis of an organization. You'll increase your ability to think "big picture" and see how to take advantage of opportunities in your workplace and personal life. This lesson focuses on using an analytical process called SWOT (Strengths, Weaknesses, Opportunities, and Threats) to develop strategies to move your business and your personal financial life in a positive direction. You'll also explore a process for successfully implementing the strategies you develop.

Method of Instruction

Online

Evaluation

Class participation