What is this course about?
This course includes:
- The sources and applications of funds in a business
- The meaning and importance of working capital
- Reading and interpreting a Statement of Comprehensive Income
- Reading and interpreting a Statement of Financial Position
- The importance of cash flow, and factors that impact positively and negatively on cash flow
- The application of ratio’s / ratio analysis in evaluating financial statements
- Budgeting as a managerial function, the advantages and limitations of budgets
This course is based on the premise that the business’ accountants are the “score-keepers” and all other “players” in the business are the “score-makers” i.e. their actions impact positively or negatively on profit, also known as the “bottom line”.
Who should be doing this course?
Money talks. It is the lifeblood of every business and there is a limited amount of it in circulation. It buys resources for the business to function. Mismanage these resources and you are literally wasting money. Everything you do have financial consequences.
You didn’t advance to this level only to be held back by weak financial skills. Can you demonstrate your value and your return on investment to your boss? Are you able to interpret financial reports and propose changes for accelerating the growth and profitability of the business? Can you make sound financial decisions and draft an accurate budget to justify your ideas in rands and cents?
Non-financial managers increasingly need to understand how finance and accounting affect their business decisions. In this course you will learn how to use financial accounting information to make better decisions as a manager. It will help you gain a fundamental understanding of your company's assets, liabilities, capital needs, cash flows and profitability.
After completing this course, you should be able to:
- Discuss the sources and applications of funds in a business.
- Discuss the money machine in respect of the inflows and outflows of money.
- Explain the meaning and importance of working capital.
- Explain the term current liabilities.
- Explain what is meant by working capital.
- Explain what is meant by the Money Machine.
- Read and discuss a Statement of Comprehensive Income.
- Read and discuss a Statement of Financial Position.
- Discuss the importance of Cash Flow.
- Interpret a projected Cash Flow statement.
- Discuss the relationship between Working Capital and Cash Flow.
- Interpret ratios in evaluating Financial Statements.
- Discuss budgeting as a Managerial Function.
How is your course mark calculated?
Your course mark is calculated using the average mark obtained in each of the Chapter tests. In order to pass this course, you must obtain a final course mark of at least 50%. This means that even if you fail a few of the chapter tests, if your test marks in the other chapter tests are high enough you will still be able to pass the course. Good Luck!
Study at your own pace!
We’ve created our courses to suit your busy life! The duration of this course is based on a student guide where one 300 – 500 word article is read per day, and the assessment is done on a separate day after the relevant articles have been reviewed. But you can do the course in your own time and at your own pace. If you choose to do two readings per day, it will take you half of the estimated time, four readings per day means doing the course in a quarter of the time etc. We leave that decision up to you!