Budgets and Financial Reports

Nobeles Center
Last Update September 22, 2024
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About This Course

Welcome to the Budgets and Financial Reports workshop. Everyday businesses deal with budgets and financial reports in some form or fashion. At 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.Please login.

Learning Objectives

Welcome to the Budgets and Financial Reports workshop. Everyday businesses deal with budgets and financial reports in some form or fashion. At 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.

Curriculum

12h

Glossary

A budget glossary includes terms like variance, forecast, fixed costs, variable costs, capital budget, operating budget, financial statements, cash flow projections, expense reports, and line items, essential for understanding financial planning.

Understanding Financial Statements

Understanding financial statements involves interpreting key documents like the income statement, balance sheet, and cash flow statement to assess a company's performance, financial health, and operational efficiency over time.

Analyzing Financial Statements (I)

Analyzing financial statements involves assessing ratios like liquidity, profitability, and solvency, comparing trends over time, benchmarking against industry standards, and identifying strengths and weaknesses for informed decision-making and strategic planning.

Analyzing Financial Statements (II)

Analyzing financial statements also includes performing horizontal and vertical analysis, evaluating cash flow patterns, examining revenue sources, understanding expense structures, and using key performance indicators (KPIs) to gauge overall financial health.

Understanding Budgets

Understanding budgets involves setting financial goals, estimating revenues and expenses, creating detailed plans for resource allocation, monitoring actual performance against the budget, and adjusting strategies to ensure financial stability and growth.

Budgeting Made Easy

Budgeting made easy includes simple steps like tracking income and expenses, setting realistic financial goals, using budgeting tools or apps, reviewing regularly, and adjusting plans to ensure effective money management and goal achievement.

Advanced Forecasting Techniques

Advanced forecasting techniques include regression analysis, time series analysis, moving averages, exponential smoothing, scenario planning, and Monte Carlo simulations, enabling more accurate predictions of financial trends and informed decision-making.

Managing the Budget

Managing the budget involves monitoring expenses and revenues regularly, adjusting allocations as needed, identifying variances, engaging stakeholders in financial discussions, and implementing strategies to stay on track with financial goals and objectives.

Making Smart Purchasing Decisions

Making smart purchasing decisions involves evaluating needs versus wants, researching suppliers, comparing prices and quality, considering total cost of ownership, negotiating terms, and assessing the impact on budget and cash flow.

A Glimpse into the Legal World

A glimpse into the legal world includes understanding fundamental legal concepts, the roles of different legal professionals, types of law (e.g., criminal, civil, corporate), and the importance of contracts, regulations, and dispute resolution.

Post-Test

Post-Test

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Nobeles Center

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