Course Description

Embark on a transformative journey into the world of business finance with this comprehensive Intermediate-level course offered by IIMBx. "Financial Accounting for Entrepreneurs and Managers" is an in-depth exploration of financial acumen designed to equip you with the essential skills needed to thrive in today's competitive business landscape. This course goes beyond basic accounting principles, diving deep into financial statement analysis, cost management, and financial management techniques that are crucial for both aspiring entrepreneurs and seasoned managers.

What students will learn

• Financial statement analysis: Master the art of reading and interpreting balance sheets, income statements, and cash flow statements to evaluate business performance.
• Cost management: Learn to prepare cost sheets, create budgets, and make informed cost-based decisions that drive profitability.
• Financial management: Gain insights into various financial markets and develop the ability to raise capital, manage working capital, and make sound financial decisions for your business.
• Business performance evaluation: Understand the four fundamental drivers of profitability - asset management, cost management, leverage management, and tax management.
• Financial acumen: Build a strong foundation in financial literacy that will empower you to become a successful entrepreneur or manager.

Pre-requisites

• This is a graduate-level course, so a bachelor's degree is recommended.
• An overall understanding of the business environment is required.
• Basic numeracy skills and familiarity with business concepts will be beneficial.

Course Coverage

• Mechanics of financial accounting and Generally Accepted Accounting Principles
• Reading and analyzing financial statements
• Ratio analysis and credit scoring models
• Product costing methods (job costing, process costing, and activity-based costing)
• Cost analysis for decision making (break-even analysis, relevant costing)
• Budgeting and variance analysis
• Financial markets overview and capital raising strategies
• Capital budgeting techniques (NPV, IRR, Payback period)
• Working capital management
• Asset management strategies
• Leverage management techniques
• Tax management principles

Who this course is for

• Aspiring entrepreneurs looking to build a strong financial foundation for their ventures
• Managers seeking to enhance their financial decision-making skills
• Business professionals aiming to advance their careers through improved financial acumen
• Students pursuing business or finance-related degrees
• Anyone interested in developing a comprehensive understanding of business finance

Real-world Applications

• Entrepreneurs can use financial statement analysis to assess their business's health and make informed strategic decisions.
• Managers can implement effective cost management strategies to improve profitability.
• Business professionals can leverage their understanding of financial markets to explore funding options for growth and expansion.
• Improved budgeting skills can lead to better resource allocation and financial planning in both personal and professional contexts.
• The ability to evaluate business performance using financial metrics can aid in identifying areas for improvement and driving overall success.

Syllabus

• Week 1: Mechanics of Financial Accounting
• Week 2: Reading Financial Statements
• Week 3: Financial Statement Analysis
• Week 4: Product Costing
• Week 5: Cost Analysis for Decision Making
• Week 6: Budgeting and variance analysis
• Week 7: Financial Markets
• Week 8: Capital Budgeting
• Week 9: Working Capital Management
• Week 10: Course Review