The Principles of Financial Management

Financial management is a key tool in controlling and directing the resources of any business organization. Managers--not only financial professionals but also managers whose responsibilities are largely non-financial--can use this tool to generate and analyze the financial information that is essential to decision making in business. Understanding the principles of financial management helps all managers, from line supervisors to senior executives, to use this tool more effectively to support the organization's goals. This course introduces non-financial managers to the principles of financial management. It explores the basic concepts of risk and return and the time value of money.

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Non-financial managers who seek an introduction to finance

WEB

Course Overview|Lesson Overview| - recognize the benefits of using financial management to support organizational success.|Reporting Financial Condition| - match the main financial statements used to report on financial condition with the information they provide.|Forecasting Cash Flow and Capital Needs| - apply information from forecasting tools to allocate cash in a hypothetical departmental budget.| - match common forecasting tools with examples of the cash flow and capital needs they help to identify.|Allocating Scarce Resources| - initiate appropriate interactions with financial control systems in a hypothetical business scenario.|Lesson Overview| - recognize the value of managing financial risk in business.|Types of Financial Risk| - analyze a potential business investment to determine which type(s) of financial risk it represents.| - match types of financial risk with examples.|Risk and Return| - compare the risks in two hypothetical business situations to determine which situation has the lower potential for risk or the higher potential for gain.| - identify real-world scenarios as examples of the different types of return investment risk.|Lesson Overview| - recognize the value of utilizing the time value of money concept to support effective financial management.|Present and Future Value of Money| - calculate the future value of a monetary amount from a given present value in a hypothetical business situation.| - identify the variables that are used to calculate the relationship between the present value and the future value of invested money that is earning compound interest.|Depreciation| - identify the effects of depreciation expense on financial performance.|Buy-lease Decisions| - decide whether to lease or buy equipment in a hypothetical business situation.| - select examples of factors to consider when making a buy-lease decision.|

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