You will certainly also recognize the terms used by accountancy as well as the finance team and also will feel extra positive when being entailed with them or using them. This course will certainly aid you to do a much better job and prepare you for senior administration positions where financial awareness is critical.
Understanding the accounting cycle
The five main accounts in financial statements
Income statement: a tool for performance measurement
Accrual basis versus cash basis
Balance sheet: a tool for financial position
Statement of owners’ equity
Statement of cash flows: cash is king
Wrapping up: the cycle of financial statements
External and internal auditors’ responsibilities
Why are ratios useful?
Horizontal and trend analysis
Vertical analysis: common size statements
Common size financial statements
Building blocks analysis and reading through the numbers:
Liquidity ratios: ability to settle short-term dues
Solvency ratios: ability to settle long-term dues
Activity ratios: the ability to manage assets efficiently
Profitability ratios
Limitations of financial ratio analysis
Definition of working capital and working capital management
Working capital management strategies for current assets
Balancing profitability and liquidity
Working capital management strategies for current liabilities
The trade-off between profitability and certainty
Breakeven analysis and decision making
Defining fixed costs
Defining variable costs
Contribution margin formula
Computing breakeven point
Sensitivity analysis: changing assumptions
What is the operating budget?
Steps to budget development
Master budget components
Sales forecasting
Approaches to budgeting
Incremental budgeting
Zero-based budgeting
Budgetary control and correction
Examples of exercises involving capital budgeting
Time value of money: a prerequisite for investing decisions
The required rate of return for investments
Examples of cash outflows for capital projects
Examples of cash inflows for projects
Net present value calculation
Internal rate of return
Recap: the concept of financial management
Accounting versus finance: rules and responsibilities
Three pillars of finance
Financing decisions
Investing decisions
Operating decisions
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