Executive and Professional Development
A Manager’s Guide to Financial Management
Are you a manager and/or supervisor who needs to boost your understanding of all things financial? Do you find yourself in the awkward position of being responsible for budget issues but don’t have the knowledge to use the numbers presented let alone understand what they mean? If you have answered “yes” to these questions, then A Manager’s Guide to Financial Management is right for you.
The program starts with the most basic of financial literacy and then progresses to the interpretation of financial information you see on statements and reports. It is important to understand how the overall financial performance of your operation/unit is impacted by the management of working capital, financing choices or cost factors. You will leave this workshop with financial skills and knowledge which will take the mystery out of accounting reports and financial documents and allow you to make better financial decisions.
Participants will receive a copy of Running Your Business by Debi Peverill.
DATES - 3 Day Seminar
- Learn how to understand and interpret financial statements
- Mysteries of accounting terminology revealed
- Generally accepted accounting principles and how they impact financial reporting
- Balance sheets and income statements
- Learn what ASPE and IFRS mean and the key differences between these new accounting standards
Indicators of Financial Performance
- Learn how to calculate the key ratios and what financial decisions will improve these ratios
- Asset management
- Profitability and growth
Behavior of Costs
- Understand the difference between fixed and variable costs
- Learn how to calculate the sales volume required to cover fixed costs
- Cost volume profit calculations will be explained
- Learn how to price to cover all your costs
Managing Working Capital and Receivables
- Granting credit – how to set credit policy
- Payment strategies for suppliers
- Working capital ratios
- Inventory management
Financing and Leverage
- Basic types of financing and their appropriate uses
- Why businesses should borrow money
- Effect of interest rates and loan terms on interest expense
- Difference between debt and equity
Basic Business Valuation
- Learn the basics of how a business is valued, by understanding the following methods
- Asset valuation
- Net income approach
- Going concern or liquidation?
Participants will explore these concepts and then put their knowledge into practice with exercises, problems and case studies.
What You Will Learn
- How to interpret the many financial documents that cross your desk
- How to use that knowledge to make sound financial decisions
- A better understanding of financial processes and principles
- How to measure your department's financial performance
Who Should Attend?
You will benefit from this seminar if you:
- are new to financial management
- are in a management or supervisory role with financial responsibilities
- wish to learn how to make decisions based on financial information