- NY Credits : 8.0
- TX Credits : 8.0
A manager's success depends largely on his or her ability to manage a company's assets. This mission is complicated by the interdependent nature of a company's finances. One short-term financial problem, such as a cash flow shortage, can cause a longer-term credit problem, such as denials for bank loans. The successful manager must be able to quickly identify and resolve such short-term problems in order to prevent their long-term deleterious effects. This course is intended for effective business managers and entrepreneurs. Covering every facet of the daily management of a business' finances, it is designed to help managers pinpoint, remedy, and prevent business and financial problems. In each case, it also points out potential ripple effects-the ways in which a problem in one sector can disrupt operations in other areas.
This basic level course is most beneficial to professionals new to this topic who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
explain how to manage pricing, sales, and advertising,
identify the causes of inventory and production shortfalls,
identify concepts used in the analysis of profitability,
identify the risk-return trade-off,
recognize influences that can adversely affect business development,
recognize steps management can take to avoid business failure,
identify ways to improve cash flow,
identify ways to manage accounts payable and receivable,
recognize commonly used financial ratios that help spot liquidity problems,
recognize how to determine the stability/instability in product revenue and costs,
identify how actual costs can exceed standard (budgeted) costs,
recognize ways to spot record-keeping errors, and
recognize the characteristics of different corporate structures used to affect tax planning and preparation.