Explore the principles of managerial accounting and learn to interpret typical financial statements of income, balance sheets, and statements of cash flow to better understand the management of your department or organization.
- Interpret and analyze income statements, balance sheet, and statement of cash flows using ratio analysis.
- Determine ways to positively affect cash flow, net income, and the balance sheet.
- The steps necessary to create and maintain a useful budget.
- Identify basic processes used to justify capital purchases and/or cost reduction proposals within organizations.
Who Should Attend:
Managers responsible for building or meeting their budgets. Emphasis is placed on helping nonfinancial leaders to understand the basic principles of accounting, the "language" of business.
This program uses the financial statements of a mythical manufacturing company to present information and concepts in the most readily comprehensible manner for most participants. It is not intended or designed for participants currently working for banking, insurance, or most nonprofit organizations which often have very different methods of compiling monthly income/operations statements.
Participants are encouraged, if possible, to bring a copy of recent income statements, balance sheets, and statements of cash flow from their own organizations. This allows them to apply the principles of the program to their own, "real life" situation.
- Business knowledge
- Technical skills