Finance for Non-Finance Professionals

Course Outline

Do you need to produce business results within a budget? Would you like to analyze business opportunities with a better understanding of the financials? Are you aware of how the new IFRS accounting standards, effective January 2011, will impact your ability to fully participate in financially based conversations? This program is about understanding finance and accounting in order to achieve your objectives and the company’s goals.

During these times, where companies are under increased financial scrutiny, there are more reasons than ever to ensure you have a complete knowledge of your company’s financial well being. You need to reach your objectives in a fiscally responsible manner. To succeed in this environment, individuals must combine financial acumen with their other existing business skills.

What You Will Learn

Working through various examples and discussions, you will learn to:

• Recognize the top 4 finance questions and know which report has the keys to the answer
• Analyze the Income Statement to assess revenues and expenses
• Understand how the Balance Sheet works and be able to analyze assets and liabilities
• Find out how cash differs from revenue and expenses and why the Cash Flow Statement is important
• Discover how the 3 main accounting reports are related to each other
• Differentiate between accounting, cost accounting and variance to budget reporting, understanding when to use each and how each can help to keep your company on track
• Know the accounting process, from debits and credits, to the general ledger, accounting reports and finally year end
• Identify the guiding principles of accounting and become aware of the importance of ethics
• Evaluate potential opportunities from a financial perspective
• Use ratios to better understand a business
• Determine whether a cost should be classified as capital or expense
• Cost inventory using a methodology appropriate to your business
• Understand how IFRS will impact finance and accounting

Who Will Benefit

This course will be of particular benefit to those who are tasked with getting their job done within the parameters of a financial goal or budget.