This Basic Financial Management training course introduces students to the fundamentals of financial management. Students will become familiar with basic accounting concepts and terms, track business transactions, use universal accounting tools such as the general journal, general ledger, and trial balance. Course activities also cover the purpose of and how to use the four financial statements-the income statement, the balance sheet, the cash flow statement, and the statement of stockholders’ equity. Finally, students learn how to create and enforce a budget by analyzing financial statements, setting objectives, and monitoring performance.
This Financial Management training class continues by teaching how to reconcile a bank statement, choose a reconciliation reviewer, control an organization’s cash, and prepare a Cash Flow Statement. Course activities also cover the various tools available for analyzing financial statements. Students will also learn how to calculate inventory value and depreciation, and why organizations use accounting methods when reporting financial information on financial statements.4