ELEV-FP 002: Budgets And Financial Reports

ELEV-FP 002: Budgets And Financial Reports

The following is the course description for the Budgets and Financial Reports Course:

Welcome to the Understanding Budgets and Financial Reports workshop. Every day businesses deal with budgets and financial reports in some form or fashion. At a minimum, business managers review budget numbers and run financial reports for decision-making and reporting to shareholders and Federal regulators once a month. Many companies devote the last few months of the calendar year to creating budgets for the next calendar year. In addition, organizations create and disseminate year-end financial reports to investors. 

The goal of this workshop is to give the participant a basic understanding of budgets and financial reports so they can hold relevant discussions and render decisions based on financial data. This course will define key terms like ROI, EBIT, GAAP, and extrapolation. Furthermore, this one-day course will discuss commonly used financial terms, financial statements, budgets, forecasting, purchasing decisions, and laws that regulate the handling of financial information. Before we begin, let us get to know more about each other. 

Course Objectives: 

Research has consistently demonstrated that when clear goals are associated with learning, it occurs more easily and rapidly.  

You Will:

In this course, participants are going to achieve the following learning objectives: 

• Identify financial terminology 
• Understand financial statements 
• Identify how to analyze financial statements 
• Understand budgets 
• How to make budgeting easy 
• Understand advanced forecasting techniques 
• Understand how to manage the budget 
• Identify How to make smart purchasing decisions 
• Identify the legal aspects of finances 

 

Target Student:

Course Core Competencies:

Module 1: Glossary 

Topic A: What is Finance?

Topic B: Commonly Used Term

Topic C: Key Player

Topic D: Important Financial Organizations

Topic E: Understanding GAAP

Module 2: Understanding Financial Statements 

Topic A: Balance Sheets

Topic B: Income Statements (AKA Profit & Loss Statements)

Topic C: Statement of Retained Earnings

Topic D: Statement of Cash Flows

Topic E: Annual Reports

Module 3: Analyzing Financial Statements (I) 

Topic A: Income Ratios

Topic B: Profitability Ratios

Topic C: Liquidity Ratios

Topic D: Working Capital Ratios

Topic E: Bankruptcy Ratios

Module 4: Analyzing Financial Statements (II) 

Topic A: Long-Term Analysis Ratios

Topic B: Coverage Ratios

Topic C: Leverage Ratios

Topic D: Calculating Return on Investment (ROI)

Module 5: Understanding Budgets 

Topic A: Common Types of Budgets

Topic B: What Information do I Need?

Topic C: Who Should Be Involved?

Topic D: What Should a Budget Look Like?

Module 6: Budgeting Made Easy 

Topic A: Factoring in Historical Data

Topic B: Gathering Related Information

Topic C: Adjusting for Special Circumstances

Topic D: Putting It All Together

Topic E: Computer Based Methods

Module 7: Advanced Forecasting Techniques 

Topic A: Using the Average

Topic B: Regression Analysis

Topic C: Extrapolatio

Topic D: Formal Financial Models

Module 8: Managing the Budget 

Topic A: How to Tell If You’re on Track

Topic B: Should Your Budget be Updated

Topic C: Keeping a Diary of Lessons Learned

Topic D: When to Panic

Module 9: Making Smart Purchasing Decisions 

Topic A: 10 Questions You Must Ask

Topic B: Determining the Payback Period

Topic C: Deciding Whether to Lease or Buy

Topic D: Thinking Outside the Box

Module 10: A Glimpse into the Legal World 

Topic A: A Brief History

Topic B: The Sarbanes-Oxley Act

Topic C: CEO/CFO Certification

Topic D: 8th Company Law Directive