Lantec | Course: Financial Management

Financial Management

1 days


Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today's business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem!

Course Objectives:

This one-day workshop teaches participants to:

  • Explain key financial terms
  • Find the rules and regulations for your area and industry
  • Discuss various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
  • Explain how a chart of accounts is created
  • Tell the difference between cash and accrual accounting
  • Explain single-entry and double-entry bookkeeping
  • Differentiate between debits and credits
  • Conduct bank reconciliations
  • Identify and analyze important financial data
  • Read an annual report
  • Determine whether a company is financially high or low risk
  • Differentiate between types of organizational financial plans
  • Know what budgets are and how to prepare them
  • Deal with financial situations that impact the people that work for them


Lesson 1: Course Overview

Lesson 2: Getting the Facts Straight

  • Starting with the Basics
  • Finance
  • General Accepted Accounting Principles (GAAP)
  • Getting to Know the Players
  • Governing Organizations

Lesson 3: The Accounting Cycle

  • Underlying Principles
  • Overview of the Accounting Cycle

Lesson 4: Understanding Debit and Credits

  • Definition of Debits and Credits
  • Understanding Debits and Credits
  • Golden Rules for Debits and Credits
  • Working with Debits and Credits

Lesson 5: Keeping Score

  • Understanding the Chart of Accounts
  • Dig Deeper
  • Single vs. Double Entry Accounting
  • Self-Test on Debits and Credits

Lesson 6: The Key Reports

  • The Income Statement
  • Sample Income Statement
  • The Balance Sheet
  • Sample Balance Sheet
  • The Cash Flow Statement
  • Sample Cash Flow Statement
  • Statement of Retained Earnings
  • A Review of Financial Terms Match Up!

Lesson 7: Bank Reconciliation

  • Difference in Accounting records
  • Preparing bank reconciliations

Lesson 8: Your Financial Analysis Toolbox

  • Identifying the Relevant Data
  • Analyzing the Data
  • Reading Annual Reports
  • Case Study
  • General Guidelines for Identifying High and Low Risk Companies
  • Using Ratios for Decision Making

Lesson 9: The Basics of Budgeting

  • Defining a Budget
  • The Budgeting Process
  • Case Study

Lesson 10: Cost Accounting and Depreciation

  • Basics of Inventory and Depreciation
  • Accounting methods used to value inventory
  • Fixed assets and depreciation
  • Methods of depreciation

Lesson 11: People and Numbers

  • Computer Survival Skills
  • Things to Consider When Choosing Accounting Software
  • Small Group Activity:  Handling Difficult Situations

Lesson 12: Personal Action Plan

Scheduled Courses

Sep 11, 2024
Dec 09, 2024
Feb 11, 2025

Need to Request This Course On a Different Day?

LANTEC is very responsive to local client needs and unique or custom class demands. If you require a delivery date option for a class title on our schedule, please submit your specific request for immediate consideration. We can often accommodate countless additional courses NOT available on our public schedules, please inquire for personal assistance.
Want to schedule it?


"D'Sunte is an awesome teacher! He reaches all levels of expertise of students. Manages to keep you in the 'game' even if you're not up to speed! I can tell he knows how to make the drawings or whatever, you could also build them. I have tremendous respect for 'walking the walk" and 'talking the talk.'" on AutoCAD Fundamentals and instructor D'Sunte Wilson