Course Outline
1 - Getting the 'Right ' Numbers
- Qualitative vs. Quantitative Decision-Making
- Standards
- Effective and Efficient Decisions
- Constraints
2 - Review of the Financial Statements
- The Balance Sheet and Income Statement
- Statements of Cash Flow
- What the Financial Statements Do Not Tell You
3 - Making Money
- Maximizing Profit or Minimizing Cost
- Thinking in Units
- Defining Cost
4 - Identifying Costs and Their Behaviors
- Fixed, Variable, and Mixed Costs
- Relevant Range
- Cost Per Unit
- Cost Categories on the Income Statement
- Discerning Variable Costs
- Discerning Mixed Costs
5 - Controlling Costs
- Contribution Margin on the Income Statement
- Activity-Based Costing
- Non-Value-Added Activity
6 - Am I Breaking Even?
- The Cost-Volume-Profit Graph
- The Contribution Margin Approach to Break-Even
- Calculating 'What If' Profit
- Margin of Safety
7 - Operating Leverage
- Defining Operating Leverage
- Operating Leverage and the Bottom Line
8 - Influences on Pricing
- Pricing in Line with the Competition
- Trade-Offs Between Price and Demand
- Elasticity of Demand Illustrated
- Market and Cost Influences on Pricing
- Qualitative Factors in Relation to Price
9 - Making the Numbers Work for You
- Responsible Decision-Making
- Quality Mangement
Target Audience
This course is intended for non-financial individuals who want to gain basic knowledge of accounting fundamentals.