This course is designed for those who are interested to get into business finance for managers
What you will learn
Managerial understanding of financial terms such as Net profit
Understanding the management purpose of each financial statement
Knowing the difference between Income and Cash flow statements
Transforming financial statements into Management tools
Basic skills in reading financial statements
Description
Thinking of finance, there is always one problem for managers in the business world.
They are often unfamiliar with the real meaning of financial terms. This course will help those who are interested to learn the framework of managerial financial statements. The balance sheet, Income and Cash flow statements are explained here from the management and owners’ point view. This knowledge would be especially useful not so much for academic purposes but mainly for business practices.
Before we begin, It would make sense to clarify the difference between managerial and external financial statements.
Managerial Financial Statements
The main purpose of Managerial financial statements is to provide owners and managers with timely, reliable information about business performance for decision making in the most convenient and useful format.
External Financial Statements
External financial statements are those distributed outside of the company’s management. The usual recipients of this information are government agencies, banks and other external institutions. These statements are quite strictly regulated by national legislation and international accounting standards which is not always best suitable and convenient for management purposes.
We focus on Managerial Finance in this course.
At first, I am going to challenge your understanding of Net Profit. Please check your confidence, knowledge and intuition at the start of this course. You can rely on your common management sense, but not only on accounting rules. Sometimes it works even better.
Content