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!
What
Will Students Learn ·
Describe the art of finance and
key financial terms ·
Determine your role in company
finances ·
Find the rules and regulations
for your area and industry ·
Discuss various types of
financial reports, including income statements, balance sheets, cash flow
statements, and statements of retained earnings ·
Explain how a chart of accounts
is created ·
Tell the difference between
cash and accrual accounting ·
Explain single-entry and
double-entry bookkeeping ·
Differentiate between debits
and credits ·
Identify and analyze important
financial data and make financial decisions ·
Read annual reports ·
Determine whether a company is
financially high or low risk ·
Recognize different types of
organizational financial plans ·
Explain what budgets are and
how to prepare them ·
Recognize what computer skills
you need to make you a financial whiz ·
Deal with financial situations
that impact the people that work for you