Finance for Non-Financial Managers
1h 31mBeginner2024-05-06
Authors
Jim Stice
Professor of Accounting at BYU
Kay Stice
Professor of Accounting at the BYU Marriott School of Management
Course details
If you're looking to grow your career and take on greater financial responsibility within your organization, you'll need to demonstrate a basic understanding of financial management. In this course, BYU Accounting professors Jim and Kay Stice help you develop the financial acumen necessary to:
Understand the purpose of finance and how it impacts entrepreneurs, investors, and facilitators
Interpret financial reports and make decisions based on the data provided
Draft an accurate budget
Accurately calculate the cost a product or service
Understand the basics of corporate income taxes
Communicate your contribution to the bottom line
Understand the purpose of finance and how it impacts entrepreneurs, investors, and facilitators
Interpret financial reports and make decisions based on the data provided
Draft an accurate budget
Accurately calculate the cost a product or service
Understand the basics of corporate income taxes
Communicate your contribution to the bottom line
Skills covered
Accounting SkillsFinance and AccountingPersona
Concepts
Introduction
- How to make wiser business decisions
- Don t fear the numbers
Finance and Accounting Basics
- The purpose of finance
- Entrepreneurs, investors, and facilitators
- What is accounting
Most Common Financial Reports
- Overview of the financial statements
- What to look for in a balance sheet
- Overview of the income statement
- Interpreting the statement of cash flows
Techniques for Using Financial Reports
- What is financial ratio analysis
- Calculating return on equity
- A deeper look at the DuPont framework s three components
- The DuPont framework - Walmart and Target
- What is the next step in the analysis
Short-Term Financial Management
- Managing cash through the operating cycle
- Strategies for cash management
- Managing receivables and inventory
Costing a Product or Service
- Considering costs - Fixed, variable, and contribution margin
- How to calculate your break-even point
Creating a Budget
- Drafting a budget
- Review of the budgeting steps
Income Tax Basics
- Understanding income taxes
- Tax brackets, average tax rate, and marginal tax rate
- Tax deductions and tax credits
Conclusion
- Next steps