Overview
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Get a basic understanding of financial management, sufficient to interpret reports, draft budgets, cost products, and make informed financial decisions.
Syllabus
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Introduction
- How to make wiser business decisions
- Don't fear the numbers
- The purpose of finance
- Entrepreneurs, investors, and facilitators
- What is accounting?
- Overview of the financial statements
- What to look for in a balance sheet
- Overview of the income statement
- Interpreting the statement of cash flows
- What is financial ratio analysis?
- Calculating return on equity
- A deeper look at the DuPont framework's three components
- The DuPont framework: Ford and General Motors
- What is the next step in the analysis?
- Managing cash through the operating cycle
- Strategies for cash management
- Managing receivables and inventory
- Considering all of your costs: Fixed, variable, and the contribution margin
- How to calculate your break-even point
- Drafting a budget
- Review of the budgeting steps
- Understanding income taxes
- Tax brackets
- Tax deductions and tax credits
- Next steps
