Finance for Non-Financial Professionals

by Ray Sheen

1h 18m

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Overview

Even if your role isn’t finance-specific, you’ll benefit from strengthening your grasp of financial principles with this course. Whether learning how to craft financial reports or developing a business case, you’ll better understand the numbers driving your company’s performance and dramatically improve your professional decision-making process.


Syllabus

Amount and Timing5m 05s

There are two equally important attributes of every financial transaction, the amount and the date it occurred.  Both are required for financial reporting and analysis.

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Revenues and Profits3m 55s

Revenue is the amount of money that a company receives for selling its goods and services.  Profit is the amount of money that a company earns after it has paid all its expenses.

Earnings Statement Part 13m 58s

The Earnings Statement is a financial report that shows business profitability over some time period.

Balance Sheet Part 16m 03s

The Balance Sheet is the financial report that shows what the business is worth at some instant in time.

Cash Flow Statement Part 14m 54s

The Cash Flow Statement is a financial report that shows how well the company was able to convert business activity into cash over some time period.

Relationships Between Financial Statements4m 44s

Each of the financial statements provides insight on an aspect of the business financial status and structure. These accounts across the statements are related, and changes to values will likely impact multiple statements.

Profit Measures4m 28s

When calculating profitability, the different profit measures provide insight into the most significant factors that are creating corporate profit or loss. 

Return on … Ratios4m 10s

Return ratios are normally used for comparing companies or comparing the past performance of a company with its present performance.

Cost Account Characteristics5m 05s

It is important to know what category of account you are working with when budgeting and tracking spending.  The different categories of accounts behave differently so knowing which category you are working with will provide insight into the budgeting and tracking process.

Estimating5m 15s

Estimating is used when planning and budgeting business costs or revenues. The estimate needs to include both the amount and the timing of the transaction.

Capitalization and Amortization4m 45s

Whenever a company purchases an asset with long term value, it must be capitalized. Every asset that is capitalized is then depreciated, which is special form of amortization. 

Depreciation5m 29s

If you capitalize a fixed asset, you are required to depreciate it on the business financial books.

Budget Baseline4m 42s

Budget baselines should be used if costs must be controlled within a department or on a project. 

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Developing a Business Case 5m 47s

The business case provides the business rationale, normally in financial terms, of why a project should be done.

Cost Behavior5m 08s

The business financial system records costs based upon the cost account type.  The costs are often accrued near the end of fiscal quarter or year.

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Cost Variance Reporting5m 11s

Cost variance reporting is the calculation and reporting of costs that are different than what was expected by the budget or standard.


Description

This online course will help you understand how your decisions can improve efficiency, drive successful projects, and impact the financial performance of the business.

Highlights:

  • 16 lessons
  • Solidify your grasp of finance fundamentals: amount, timing, revenues & profits.
  • Interpret data on financial reports and how these reports impact each other.
  • Identify the different categories of cost accounts for budgeting and tracking spending.
  • Formulate strong estimates, and determine when to capitalize and depreciate an asset.
  • Utilize ratios and measures to gain insight into profitability and performance.
  • Develop a business case to provide rationale for why a project should be undertaken.
  • Understand cost behavior and cost variance reporting.
  • Earn 8 contact hours or PDUs toward your project management education for certification with PMI.

Once enrolled, our friendly support team and tutors are here to help with any course related inquiries.


Accreditations and approvals

CPD - The CPD Certification Service. PMI - Project Management Institute

GoSkills has been reviewed and approved as a provider of project management training by the Project Management Institute(PMI)®.

Reviews46

Thanks GoSkills, the Finance for Non-Financial Professionals course has improved my business sense and I have gained valuable insight of the practices and a new vocabulary to interpret accounting data management. To assist other student, I can comment : The program covers the strategies of following the impact business development and its subsequent tracking using financial/accounting principles. Topics of: structure, analysis, development, options and measurement are highlighted as key guiding components . I definitely learnt from the professional insight of using a business model and financial plan. Following on: background is given to the practices of effective costing and the business strategies to uphold a successful projection for operational management of projects and annual budgets. The theme of the overall study enabled my better understanding of recording and developing business planning for profit/loss analysis.

— Fleur Pepper

Easy to learn by watching the short videos, found them really helpful.

— Noeline Ohlson

Value for money and suitable for beginner

— Eunice Tan

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