ELEV-FP 002: Budgets And Financial Reports

ELEV-FP 002: Budgets and Financial Reports

Course Number: ELEV-FP 002

Duration: One day

Course Description:

Welcome to the Budgets and Financial Reports course. Every day, businesses rely on budgets and financial reports to guide decision-making, ensure compliance, and communicate performance to stakeholders. Managers regularly review budget data and financial reports for operational decisions, shareholder reporting, and regulatory requirements, while many organizations dedicate significant time each year to developing forward-looking budgets and year-end financial statements.

The goal of this course is to give participants a practical, working understanding of budgets and financial reports so they can confidently discuss financial data and make informed decisions. Participants will learn essential financial terminology, review common financial statements, explore budgeting and forecasting techniques, evaluate purchasing decisions, and understand the laws that regulate financial information.

By the end of this course, learners should be able to:

• Identify commonly used financial terminology
• Understand and interpret financial statements
• Analyze financial data to support decision-making
• Understand budgets and budgeting processes
• Apply techniques to simplify budgeting
• Use advanced forecasting techniques
• Manage and monitor budgets effectively
• Make informed purchasing decisions
• Recognize the legal aspects of financial management

Course Modules:

Module One: Glossary

• What finance is and why it matters
• Commonly used financial terms
• Key financial players
• Important financial organizations
• Understanding GAAP

Module Two: Understanding Financial Statements

• Balance sheets
• Income statements (profit and loss statements)
• Statements of retained earnings
• Statements of cash flows
• Annual reports

Module Three: Analyzing Financial Statements (Part One)

• Income ratios
• Profitability ratios
• Liquidity ratios
• Working capital ratios
• Bankruptcy ratios

Module Four: Analyzing Financial Statements (Part Two)

• Long-term analysis ratios
• Coverage ratios
• Leverage ratios
• Calculating return on investment (ROI)

Module Five: Understanding Budgets

• Common types of budgets
• Information required for budgeting
• Who should be involved in the budgeting process
• What an effective budget should look like

Module Six: Budgeting Made Easy

• Using historical data
• Gathering related information
• Adjusting for special circumstances
• Bringing all elements together
• Computer-based budgeting methods

Module Seven: Advanced Forecasting Techniques

• Using averages
• Regression analysis
• Extrapolation
• Formal financial models

Module Eight: Managing the Budget

• Determining whether you are on track
• Knowing when and how to update a budget
• Keeping a diary of lessons learned
• Recognizing when corrective action is needed

Module Nine: Making Smart Purchasing Decisions

• Ten essential purchasing questions
• Determining the payback period
• Deciding whether to lease or buy
• Exploring alternative options

Module Ten: A Glimpse into the Legal World

• A brief history of financial regulation
• The Sarbanes-Oxley Act
• CEO and CFO certification requirements
• The 8th Company Law Directive

Budgets and Financial Reports equips learners with the confidence and knowledge to understand financial data, participate in meaningful financial discussions, and make informed business decisions. Join now to build practical financial skills and strengthen your ability to analyze, manage, and communicate financial information with confidence.