Impact On The Organization
In today’s business world, financial acumen is a crucial element of a successful business. In order to maximize profits, companies depend on solid financial decisions. Managers must understand, apply, and manage the financial aspects of their functions in order to make good business decisions. Using, understanding, and interpreting financial data will not only allow managers to identify areas where the business excels, but also recognize key opportunities for improvement.
Learning Objectives
- Learn and then apply basic business financial information to the organization’s business setting
- Give managers the tools to understand their business, the cost drivers, and how they can contribute to business performance
- Review business metrics to measure performance
In this workshop, emphasis is placed on ways the management professional can contribute to a company’s financial performance. Through lecture, exercises, discussion, project work, and reading, this 2-3 day seminar provides managers with the tools and information to understand the cost of the business for which she/he is responsible. To build financial acumen for managers, typical company financial statements are examined, especially the income statement and balance sheet. Other major areas of study are the application of financial principles to business metrics, and budgeting. Attention is also placed on business vocabulary to enable improved communications with management.
Time Required
2-3 Days
Customization
This program can be customized to reflect your organization’s procedures, policies, cases, examples, and terminology. Please inquire about these optional consulting services.