Financial & Managerial Accounting for Non-Financial Managers: Beyond the Basics
PART 1 – Using Financial Information for Key Management and Strategic Decision-Making
What Financial Statements Tell Us About Business Performance, Problems and Future Health
- How accounting is the scorecard of business
- Translating the activities of an organization into a set of objective numbers that reveal a firm’s performance, problems and prospects
- Key steps to interpreting the numbers
- Evaluating costs and customer profitability
- Making key resource allocation and capital decisions
- Measuring performance across all departments using a balanced scorecard
PART 2 – Financial Accounting
A Guide to Understanding Key Financial Statements
- Balance sheet
- Income statement
- Statement of cash flows
Conducting Financial Statement and Ratio Analysis
- Introduction to the financial statement analysis framework
- Review the calculation and interpretation of key financial ratios
- Hands-on exercise: participants, working in groups, will apply the financial statement analysis framework to a publicly traded corporation
- What key opportunities, problems and issues emerge?
PART 3 – Managerial Accounting
Shareholder Value and Responsibility Accounting
- Defining shareholder value and its application to business
- Calculating the cost of capital
- Discuss methods of improving shareholder value
The Balanced Scorecard Approach to Improving Business Results
- Improving business strength by setting standards in all areas of your organization
- The purpose and framework of balanced scorecard
- Hands-on exercise: present the application of the balanced scorecard to a business organization
Analyzing Your Costs Using Activity Based Costing
- How managing cost impacts every aspect of a business
- The shortcomings of traditional costing systems
- Understanding the components of cost
- Designing an activity-based costing system for an organization
A Manager’s Guide to Effective Capital Budgeting
- Supporting your key resource decisions using a forward capital budgeting approach
- The financial techniques used in making capital budgeting decisions
- Hands-on exercise: application of capital budgeting techniques
Program Wrap-Up: Putting It All Together