Revenue or expense budgets and financial statements are primary tools by which an organization determines, measures, and reports its financial performance. Many managers in nonfinancial positions are familiar with budgets but less familiar with financial statements and their relationship to budgets. This workshop will help you increase your understanding of these tools and build an appreciation for the financial impact of your business decisions. You will learn to:
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Identify the factors influencing a company's cash flow and profitability
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Describe key financial and accounting terms and principles
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Explain the relationship between the major components of basic financial statements
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Use financial statements to analyze a company's overall financial performance
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Prepare departmental budgets that support business goals and objectives
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Who uses financial information?
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Financial reporting rules and the rule-making bodies
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What it takes to run a business
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Factors affecting cash flow
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Components of the income statement and balance sheet
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How transactions are recorded in the income statement and balance sheet
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How the statement of cash flow links to the income statement and balance sheet
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Key financial statement ratios and what they tell us
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Types of budgets and their relationship to the financial statement
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Developing departmental budgets
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Interpreting budget to actual results
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Reflecting changes in budget assumptions
Managers, supervisors, and professionals in nonfinancial positions who want to increase their skill and comfort level in working with financial information
Ronald R. Williams
