Business decisions are driven increasingly by the financials — and having a good grasp of finance and accounting tools can help every corporate manager be more strategic stewards of the bottom line and even forecast the future.
Having a solid understanding of income statements and balance sheets is no longer just the domain of the CFO or controller. All functional leaders regardless of their area of focus benefit from understanding these finance tools. Finance and Accounting for the Non-Financial Manager is designed to give you the foundational knowledge and the tools to be a more informed business leader who can weigh financial risks and costs when evaluating strategy and driving new initiatives.
Wharton faculty — led by Prof. Richard Lambert, a leading authority on financial reporting and cost and management accounting, and author of the book Financial Literacy for Managers — help participants use and interpret actual financial statements, drawing conclusions about the business from the financial figures.
Emphasizing the importance of gaining a big-picture perspective by analyzing qualitative questions about the business, the program offers instructional case studies featuring real business scenarios and daily financial practice applications to enhance the learning experience. Throughout the finance and accounting program, participant interaction and discussion leads to a rich classroom experience. In sum, this program provides managers with a better grounding in finance-driven decision making. The finance and accounting instruments allow them to better evaluate their firm’s growth, profitability, investment for the future, and debt exposure.
Session topics include:
- Financial Statements
- Present Value Techniques and Applications
- Evaluating Projects
- Assessing Earnings Quality
- Cost Accounting and Managerial Accounting
- Financing, Leverage, and Options
- Strategy and Oversight
Through highly interactive lectures, exercises, and case studies, both in the classroom and in smaller work groups, this program will show participants how to interpret financial statements and how to calculate the value of income and payments, and to evaluate projects based on cost and revenue implications. In short, participants will gain a new or richer understanding of the financial drivers in a business and how to make decisions in a financial context.
Capstone Case Discussion
A highlight of the program is the capstone case discussion, which builds on all the concepts taught in the course. Participants will evaluate a firm’s financial statements and apply their knowledge to determine if the firm can achieve a turnaround after undergoing a financial crisis.
Attendees also will get hands-on practice, analyzing a company’s financial statement to determine profitability and the drivers for performance using various financial ratios, including return on assets, leverage, profit margins, and asset turnover ratios.
Overall, you will:
- Learn the basics of income statements, balance sheets, and cash flow statements
- Analyze and draw conclusions from financial statements
- Determine how to forecast future revenues
- Account for expenses that can’t be assigned to specific items
- Apply cost accounting principles for financial reporting and product costing
- Understand the ways companies can reduce their exposure to a range of risks, focusing on financial instruments and derivatives