Details

This program provides non-financial managers a familiarity with essential financial terminology, concepts and applications. With this knowledge, participants will be able to analyze and interpret commonly used financial information in making business decisions and work more effectively with the financial executives in their organizations.

The fee covers all program materials, program-related meals and housing in a private room at the Inn at Darden for the specified program dates.

This program counts as one week toward earning a Certificate of Specialization.

Audience

Non-financial managers affiliated with manufacturing companies, service organizations, health-care agencies and not-for-profit organizations will benefit from attending. The program emphasizes the application and understanding of financial information rather than its preparation. No prior knowledge of accounting or finance is necessary. 

A Participant says…  

Participant Profile

• CIOs
• Directors of Brand Strategy, R&D and Operations
• Finance
• HR Executives
• Line and Other Managers
• Marketing and Communications Managers
• Sales and Business Development Executives
• Technology
• VPs  

Recently Attending Organizations

Benefits

• Become familiar with fundamental financial terminology and concepts.
• Become more confident in using financial information in decision making and in working with financial managers.
• Identify and apply relevant costing information.
• Learn the essentials of budgeting and performance assessment.
• Perform fundamental financial analyses.
• Understand and use the information contained in balance sheets, income statements and cash-flow statements.

Topics

• Understanding and Recording Business Transactions
  – Fundamental underlying concepts
  – The accrual basis of accounting
  – The accounting equation and process
  
  
• Financial Accounting and Reporting
  – Balance sheet
  – Income statement
  – Statement of cash flows
  – Generally Accepted Accounting Principles (GAAP)
  – Financial statement disclosures and communications
  – Roles of management, the board and the auditors
  
  
• Financial Statement Analysis
  – Financial ratios
  – Risk analysis
  – Economic profit analysis
  – Working capital analysis
  
  
• Strategic Cost Management
  – Understanding cost behaviors and terminology 
  – Relevant cost analysis
  – Activity thinking
  – Strategic costing 
  
  
• Planning, Budgeting, and Performance Measurement
  – Strategy implementation and performance management
  – Operating budgets
  – Flexible budgets
  – Assessing planned vs. actual profitability
  – Balanced scorecard methodology
  
  
• Capital Expenditure Analysis
  – Present-value concepts
  – Analysis for capital appropriations
  – The cost of capital and required returns
  – Payback, return on investment and net present value

Special Features

• Financial Instruction Package: Prior to the program, participants will receive a self-instruction package containing information designed to enhance course learnings.
• Annual Reports: The program content is centered on the use of current annual reports of public corporations and the financial information that profiles real-world issues and organizations.

Faculty

Brandt R. Allen
James C. Wheat, Jr., Professor of Business Administration

E. Richard Brownlee, II
Dale S. Coenen Professor in Free Enterprise; Area Coordinator, Accounting

Mark E. Haskins
Professor of Business Administration

Luann J. Lynch
Professor of Business Administration