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

Skills covered

Accounting SkillsFinance and AccountingPersona

Concepts

0. Introduction

01 - How to make wiser business decisions
02 - Don t fear the numbers

1. Finance and Accounting Basics

03 - The purpose of finance
04 - Entrepreneurs, investors, and facilitators
05 - What is accounting

2. Most Common Financial Reports

06 - Overview of the financial statements
07 - What to look for in a balance sheet
08 - Overview of the income statement
09 - Interpreting the statement of cash flows

3. Techniques for Using Financial Reports

10 - What is financial ratio analysis
11 - Calculating return on equity
12 - A deeper look at the DuPont framework s three components
13 - The DuPont framework - Walmart and Target
14 - What is the next step in the analysis

4. Short-Term Financial Management

15 - Managing cash through the operating cycle
16 - Strategies for cash management
17 - Managing receivables and inventory

5. Costing a Product or Service

18 - Considering costs - Fixed, variable, and contribution margin
19 - How to calculate your break-even point

6. Creating a Budget

20 - Drafting a budget
21 - Review of the budgeting steps

7. Income Tax Basics

22 - Understanding income taxes
23 - Tax brackets, average tax rate, and marginal tax rate
24 - Tax deductions and tax credits

Conclusion

25 - Next steps