Budgets and Financial Reports

Banking and Financial Services

Course Overview

Welcome to the Understanding 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 decisionmaking 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

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

Course Outline

Module One: Getting Started

  • Workshop Objectives

Module Two: Glossary

  • What is Finance?
  • Commonly Used Terms
  • Key Players
  • Important Financial Organizations
  • Understanding GAAP
  • Case Study.
  • Module Two: Review Questions

Module Three: Understanding Financial Statements

  • Balance Sheets
  • Income Statements (AKA Profit & Loss Statements)
  • Statement of Retained Earnings
  • Statement of Cash Flows
  • Annual Reports
  • Case Study
  • Module Three: Review Questions

Module Four: Analyzing Financial Statements (I)

  • Income Ratios
  • Profitability Ratios
  • Liquidity Ratios
  • Working Capital Ratios
  • Bankruptcy Ratios
  • Case Study
  • Module Four: Review Questions

Module Five: Analyzing Financial Statements (II)

  • Long-Term Analysis Ratios
  • Coverage Ratios
  • Leverage Ratios
  • Calculating Return on Investment (ROI)
  • Case Study
  • Module Five: Review Questions

Module Six: Understanding Budgets

  • Common Types of Budgets
  • What Information do I Need?
  • Who Should Be Involved?
  • What Should a Budget Look Like?
  • Case Study
  • Module Six: Review Questions

Module Seven: Budgeting Made Easy

  • Factoring in Historical Data.
  • Gathering Related Information
  • Adjusting for Special Circumstances
  • Putting It All Together
  • Computer Based Methods
  • Case Study
  • Module Seven: Review Questions

Module Eight: Advanced Forecasting Techniques.

  • Using the Average
  • Regression Analysis
  • Extrapolation
  • Formal Financial Models
  • Case Study
  • Module Eight: Review Questions

Module Nine: Managing the Budget

  • How to Tell If You’re on Track
  • Should Your Budget be Updated
  • Keeping a Diary of Lessons Learned
  • When to Panic
  • Case Study
  • Module Nine: Review Questions

Module Ten: Making Smart Purchasing Decisions

  • 10 Questions You Must Ask.
  • Determining the Payback Period
  • Deciding Whether to Lease or Buy
  • Thinking Outside the Box
  • Case Study
  • Module Ten: Review Questions

Module Eleven: A Glimpse into the Legal World

  • A Brief History
  • The Sarbanes-Oxley Act
  • CEO/CFO Certification
  • 8th Company Law Directive
  • Case Study
  • Module Eleven: Review Questions

Module Twelve: Wrapping Up

  • Words from the Wise
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