Financial Acumen for Business Professionals

		Book a course:
		State:	Choose a state... NSW VIC QLD	Date: What is OLL?
		City:		Time:
		Price:

Duration: 2 Days Overview: Financial Acumen for Business Professionals is an accelerated learning experience that will help non-financial employees understand how financial data is generated and reported, as well as how it can be used for improved decision making and analysis. AME Learning’s patented interactive tools and simulation technology bring this commonly intimidating subject to life, resulting in improved comprehension and financial results. Target Audience: Since every employee, manager or owner is a custodian of the company’s profits and cash flow, it is crucial for professionals at all levels to understand the financial implications of their actions to improve profitability, liquidity and sustainability of the business. This course is ideal for any individual who wishes to enhance their business acumen and elevate their comprehension of how business activities can impact the financial results of an organisation. Key Participant Benefits: The course will create a strong foundation of understanding of financial statements and train participants to understand key value drivers and the story behind the numbers Will teach participants to think strategically through an understanding of the financial implications of their decisions Will help participants communicate in financial terms across various operating silos and learn to ask the right questions relating to their financial decisions Will help participants align their budgets and/or responsibilities with corporate objectives Key Business Benefits Improve profitability and liquidity due to better asset management and an understanding of appropriate actions needed to improve ratios and other performance metrics Reduce time spent on creating and managing budgets Reduce budget variances Outline: Expand All Lesson 1: The Basics - Using Personal Financial Statement to Create Context The role of the balance sheet and income statement Accrual accounting: revenue and expense recognition The impact to financial statements when buying or selling assets The impact to financial statements when borrowing or paying debt Cash flow versus net worth (later linking to business equity) Lesson 2: Linking Personal Accounting to Business Accounting Personal vs. Business Accounts Understand the corporate business structure The importance of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) Lesson 3: Inventory and Capital Assets Understand the financial implications of purchasing or building long-term assets Understand the financial implications of building inventory Lesson 4: Revenue and Expense Recognition Identify the types of sales transactions: cash, unearned revenue, and accounts receivable and their importance when managing sales Impact of discounts and product mix on profitability Identify the types of expense transactions: cash, accounts payable and common business adjustments and their importance when managing expenses Lesson 5: Adjustments and Asset Management Understand the impact of asset adjustments on financial statements and budgets Lesson 6: Improve Cash Flow Activities that improve cash flow through an understanding of: The Cash Flow Statement Free Cash Flow Lesson 7: Ratio analysis Identify activities that will improve: Profitability ratios Liquidity ratios Activity ratios Lesson 8: Cost Volume Profit (CVP) Learn how to use CVP and evaluate how profits are influenced by a change in volume and costs Lesson 9: Budgets Understand the purpose of creating budgets Zero based and incremental budgeting Standard costing Variances