Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem!
This one-day workshop teaches participants to:
- Identifying and analyzing important financial data
- Making financial decisions
- Reading annual reports
- Determining whether a company is financially high or low risk
- Different types of organizational financial plans
- What budgets are and how to prepare them
- Dealing with financial situations that impact the people that work for them
Lesson 1: A Review of Financial Terms
A review and an introduction to some additional financial term
Lesson 2: Understanding Debits and Credits
This session will de-mystify two terrifying accounting terms: debits and credits.
Lesson 3: Your Financial Analysis Toolbox
This session will give participants some sources for financial data as well as tips on weeding out useless information. We’ll also cover how to calculate common ratios, how to read an annual report, and some useful decision making tools.
Lesson 4: Bank Reconciliation
Covers the process of comparing the balance a bank has for an account with the balance the organization has for the same account.
Lesson 5: Identifying High and Low Risk Companies
In this session, participants will learn about some guidelines for identifying high and low risk companies. Then, they will practice these guidelines in a case study.
Lesson 6: The Basics of Budgeting
Next, participants will learn what a budget is, how their budget should fit into the big picture, and what the budgeting process should look like.
Lesson 7: Cost Accounting and Depreciation
Accounting for the value of items on the Balance Sheet. Various methods and appropriate usage are discussed.
Lesson 8: People and Numbers
Dealing with finances isn’t all numbers. What if an employee’s expense report doesn’t look correct? Or what if you have to make cuts to someone’s pay? Participants will examine each situation in small groups, and then provide some tips on what to do.
Need to request this course on a Different Day?
LANTEC is very responsive to local client needs and unique or custom class demands. If you require a delivery date option for a class title on our schedule, please submit your specific request for immediate consideration. We can often accommodate countless additional courses NOT available on our public schedules, please inquire for personal assistance.