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Finance for Non Finance People
Rating: 4.6 out of 5(33 ratings)
92 students

Finance for Non Finance People

An introductory course to the world of Accounts and Financial Statements for Non Finance People
Created bySteve Carlyle
Last updated 4/2023
English

What you'll learn

  • Understand the basics of Financial Statements and Accounts. Learn the difference between Profit & Loss Accounts, Balance Sheets & Cash Flow Statements
  • Learn the language of Finance. Understand what your Finance team mean when they use words like 'accruals', 'variances', budgets and 'depreciation'
  • For business managers and owners, understand what your Profit and Loss account or Management Accounts are telling you and engage effectively with Accountants
  • For Accounting & Finance students, cut through the jargon and academic language and really understand the basic accounting ideas at simple level

Course content

1 section • 6 lectures • 1h 46m total length

  • Introduction15:46

    Our introduction to the course PLUS an overview of what the key Financial Statements tell you: The Profit & Loss, Balance Sheet and Cash Flow Statement

  • Accruals Principle20:27

    A simple introduction to how accountants use the Accruals Principle. We use a simple example of a new business and talk through the example to show how the Accruals Principle is used to create the Profit & Loss Account

  • The Balance Sheet25:35

    This one shows you why it's called a 'Balance Sheet', what goes in the Balance Sheet and has a focus on Fixed Assets (also called Non Current Assets). We also look at Non Tangible items, Depreciation & Amortisation.

  • The Profit & Loss Account/Income Statement13:37

    The Profit & Loss Account (or Income Statement) is the key financial statement. We focus on the structure and content and look at Gross Profit, Operating Profit & EBIT

  • The Cash Flow Statement14:06

    Cash Flow Statements provide businesses with their statement of liquidity. We look at the statement in detail with an example and then move on to talk about liquidity and Working Capital

  • Other Accounting Stuff17:10

    We've covered the basics in the first five shows, but here are some extras that you will find really useful: Budgets, Management Accounts & EBITDA

  • Accruals Questions
  • Profit & Loss questions
  • Balance Sheet questions
  • Cash Flow
  • EBITDA
  • Profit & Loss Account & Accruals Principle

Requirements

  • We assume no pre existing knowledge on our course

Description

This course is for Non Finance People who need to be actively involved with financial information. It will help you understand the terminology and language of Finance and the importance of financial statements to improve your knowledge and decision making.

Our course will help you understand the language and terminology the accountants use such as Profit & Loss Accounts, Balance Sheets, Accruals and Working Capital.

If you are someone who wants to understand how a Profit & Loss Account works and what it is (and isn't) telling you then this course is for you. If people use jargon such as 'Management Accounts' or acronyms like 'EBITDA' and you really want to know what they are talking about then you will find the answers on this course.

We assume no prior knowledge and we start the course from the beginning. Our course will give you a great grounding that you can use as a springboard to enhance your knowledge and improve your career.

Our course is split into six short episodes. These are:

1. What a set of accounts tell us

2. Accruals; a simple example

3. The Balance Sheet: focusing on Fixed Assets, Intangibles, Depreciation & Amortisation

4. The Profit & Loss Account: including Gross Profit, Operating Profit & EBIT

5. The Cash Flow: including Working Capital & Liquidity

6. Other accounting stuff: Budgets, Working Capital & EBITDA

Who this course is for:

  • Business Managers who have to deal with financial information
  • Budget Holders who receive Management Accounts from the Finance Team to review
  • Business Owners who want to understand what their Financial Statements mean
  • Finance & Accounting students who want to have a clear and simple understanding of what Financial Statements are all about
  • Anyone who is interested in understanding Profit & Loss Accounts, Balance Sheets and other accounting jargon

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