Overview

If you hope to understand the key elements of financial documents, unlocking the ability to decode balance sheets while positioning yourself to guide your manufacturing business into sometimes uncertain market waters, the DVIRC Finance Basics course is an excellent starting point.

Why Finance Basics?
For the uninitiated, finance can seem mysterious, complete with its own terminology, rules, and regulations. DVIRC’s Finance Basics course will enable you to confidently “speak the language” of business finance and understand how to leverage this new information.

The DVIRC Difference
DVIRC offers its financial management training for all managers and supervisors. The course is built around the Harvard Business Review (HBR) Guide to Finance Basics for Managers, and the course material includes the HBR book and a sample set of manufacturing financial statements.

In addition, participants can bring their company’s financial statements to each session for guidance on their company’s performance. Through the course of this program, you will gain a clear understanding of the sometimes-mystifying world of finance documents and terms: balance sheets, income statement, charts of accounts, cost of goods sold, even business valuation approaches. We also spend time discussing the things financial statements don’t tell you, not to mention common performance measurement traps.

The cost includes all course material, including industry financial ratio reports. Also, because DVIRC understands the value of team members sharing the same knowledge base and being able to jointly support decision making for growing and managing the business, we offer discounts for registering multiple attendees

As a bonus, session four includes a visit from a regional bank lending officer with credit management experience, who will explain the ways lenders analyze financial statements.

Key Elements Covered
This program entails one half-day session per week, with DVIRC’s expert instructor leading the discussion regarding:

Session 1 – 10/2/10 – Understanding Your Financial Statements – Balance Sheet, Income Statement, Statement of Cash Flows, and footnotes review

Session 2 – 10/10/19 – Deconstructing Your Financial Statements – Chart of accounts design, trial balance review, balance sheet design, income statement design with in-depth discussion of cost of goods sold and overhead accounts

Session 3 – 10/16/19– Financial Ratios – Profitability Ratios, Operating Ratios, Liquidity Ratios, Leverage Ratios, and Business Valuation Approaches with your company compared to your industry by SIC or NAIC.

Session 4 – 10/23/19 – Split Session! – How Bankers View Your Financial Statements & Managing Your Assets to Improve Company Performance – A regional bank lending officer with credit management experience presents how lenders analyze financial statements. Also, course material on managing your assets to improve company operating results

Session 5 – 10/30/19 – Return on Investment (ROI), Breakeven Analysis, What Financial Statements Don’t Tell You, Performance Measurement “Traps”, and a Course Summary

Who should take this course
DVIRC’s Finance Basics course is appropriate for individuals in all levels of management. It is structured to enhance the knowledge of small business owners and leadership team members, as well as non-financial management team members from larger companies.

Benefits

  • Speak the language of finance
  • Understand key elements of financial statements
  • More effectively reduce their vulnerability to industry downturns
  • Shift their focus from revenues to profits

Instructor