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Financial Acumen for Non-Financial Managers

Richard Lambert and Christopher D. Ittner

In this course, you’ll explore how financial statement data and non-financial metrics can be linked to financial performance. Professors Rick Lambert and Chris Ittner of the Wharton School have designed this course to help you gain a practical understanding of how data is used to assess what drives financial performance and forecast future financial scenarios. You’ll learn more about the frameworks of financial reporting, income statements, and cash reporting, and apply different approaches to analyzing financial performance using real-life examples to see the concepts in action. By the end of this course, you’ll have honed your skills in understanding how financial data and non-financial data interact to forecast events and be able to determine the best financial strategy for your organization.

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Syllabus

Module 1: Introduction, Balance Sheet and Income Statement

This module was designed to give you a foundational overview of financial reporting and income statements. You’ll identify and analyze balance sheet equations and its key components such as assets, liabilities, and shareholders’ equity. Through examining a sample real-world financial statement, you’ll learn how to calculate income, revenue, and expenses transactions, and see how the income statement is linked to changes in the balance sheet. By the end of this module, you’ll have a better understanding of the key components in financial reporting and learn how to craft an accurate income statement for your organization.

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Explores how financial data and non-financial metrics can be linked to determine optimal financial strategies

Taught by recognized professors from the Wharton School: Christopher D. Ittner and Richard Lambert

Applies different approaches to analyzing financial performance using real-life examples

Develops skills in understanding how financial and non-financial data interact to forecast events for an organization

Suitable for students with a foundational understanding of financial reporting and income statements

Provides a practical understanding of how data is used to assess what drives financial performance

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Reviews summary

Understanding finance for non-experts

According to learners, this course provides a positive experience for those seeking to grasp financial concepts without a finance background. Students appreciate the clarity of explanations, finding complex topics made accessible. Many highlight the practical application of the material, stating they can immediately use the knowledge in their jobs. The use of real-world examples is frequently mentioned as a helpful feature that makes the concepts relatable. The course offers a solid foundation and its structured modules build knowledge effectively. However, some students note the pace can be fast and that while the course provides a broad overview, those seeking deep expertise might find the depth insufficient on certain topics.

Covers breadth, but some may want more depth.

"A great overview, but some topics felt brief."

"Moves quickly through the material."

"It's a good introduction, not a deep dive."

Knowledge is applicable to real-world work situations.

"I can immediately use what I learned at my job."

"The case studies were very helpful."

"Real company examples made it relatable."

Concepts made understandable for non-finance people.

"The instructor explained complex topics really clearly."

"It helped me understand financial statements easily."

"Finally grasping these terms feels great."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Acumen for Non-Financial Managers with these activities:

Review Basic Accounting Principles

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Revisit the fundamental principles of accounting to strengthen your understanding of the course materials.

Browse courses on Accounting

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Review the basic accounting equation.
Identify the different types of financial statements.
Explain the purpose of each financial statement.
Prepare a simple balance sheet.
Prepare a simple income statement.

Review Accounting Standards for Non-Financial Investors

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Review the key concepts of financial reporting, income statement, and cash flow statement to gain a better understanding of the course materials.

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Read the first chapter of the book.
Summarize the key concepts in your own words.
Identify the different types of financial statements.
Discuss the importance of financial reporting.
Consider how these concepts apply to your own organization.

Complete Practice Problems on Financial Ratios

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Practice calculating and interpreting financial ratios to improve your understanding of financial statement analysis.

Browse courses on Financial Statement Analysis

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Find practice problems on financial ratios online or in a textbook.
Solve the practice problems.
Check your answers.
Identify the different types of financial ratios.
Discuss the importance of financial ratio analysis.

Four other activities

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Participate in Study Groups on Financial Performance Drivers

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Join study groups with peers to discuss the key drivers of financial performance and their implications for investment decisions.

Browse courses on Financial Performance

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Join a study group online or in person.
Participate in discussions on the key drivers of financial performance.
Share your insights and learn from others.
Apply the concepts to your own investment decisions.
Consider the limitations of the discussed concepts.

Follow Tutorials on Linking Non-Financial Metrics to Financial Performance

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Explore the relationship between non-financial metrics and financial performance through guided tutorials to enhance your understanding.

Browse courses on Predictive Analytics

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Find tutorials on linking non-financial metrics to financial performance online.
Follow the tutorials.
Apply the concepts to your own organization.
Discuss the importance of linking non-financial metrics to financial performance.
Consider the challenges of linking non-financial metrics to financial performance.

Develop a Financial Analysis Report

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Apply your knowledge of financial statement analysis to create a comprehensive report that evaluates a company's financial performance and forecasts future scenarios.

Browse courses on Financial Statement Analysis

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Choose a company to analyze.
Gather the company's financial statements.
Analyze the financial statements using the techniques learned in the course.
Write a report summarizing your findings.
Present your report to your classmates or instructor.

Develop a Financial Forecasting Model

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Create a financial forecasting model to predict future financial performance and make informed business decisions.

Browse courses on Financial Forecasting

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Choose a financial forecasting method.
Gather the necessary data.
Build the financial forecasting model.
Validate the model.
Use the model to forecast future financial performance.

Career center

Learners who complete Financial Acumen for Non-Financial Managers will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial Analysts are responsible for analyzing financial data and making recommendations to investors. They are responsible for evaluating the financial performance of companies, making investment recommendations, and developing financial models. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Financial Analysts as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Financial Analyst

Chief Financial Officer

Chief Financial Officers are responsible for overseeing the financial activities of an organization. They are responsible for preparing financial reports, managing cash flow, and developing financial plans. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for CFOs as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Chief Financial Officer

Controller

Controllers are responsible for overseeing the accounting and financial reporting activities of an organization. They are responsible for preparing financial statements, managing internal controls, and ensuring that the organization is in compliance with financial regulations. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be useful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Controllers as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Controller

Venture Capitalist

Venture Capitalists are responsible for investing in and managing early-stage companies. They are responsible for conducting due diligence, developing investment strategies, and negotiating deals. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Venture Capitalists as they need to be able to understand and interpret financial data to make informed decisions about investment opportunities.

See salaries and explore the career path for Venture Capitalist

Investment Banker

Investment Bankers are responsible for advising companies on mergers and acquisitions, capital raising, and other financial transactions. They are responsible for developing financial models, conducting due diligence, and negotiating deals. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Investment Bankers as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Investment Banker

Private Equity Investor

Private Equity Investors are responsible for investing in and managing private companies. They are responsible for conducting due diligence, developing investment strategies, and negotiating deals. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Private Equity Investors as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Private Equity Investor

Strategy Consultant

Strategy Consultants are responsible for advising companies on how to develop and implement strategies. They are responsible for conducting research, developing recommendations, and implementing solutions. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Strategy Consultants as they need to be able to understand and interpret financial data to make informed decisions about strategy development and implementation.

See salaries and explore the career path for Strategy Consultant

Management Consultant

Management Consultants are responsible for advising companies on how to improve their operations and financial performance. They are responsible for conducting research, developing recommendations, and implementing solutions. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Management Consultants as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Management Consultant

Chief Operating Officer

Chief Operating Officers are responsible for the day-to-day operations of an organization. They are responsible for managing departments such as finance, human resources, and operations. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania may be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for COOs as they need to be able to understand and interpret financial data to make informed decisions about the day-to-day operations of an organization.

See salaries and explore the career path for Chief Operating Officer

Chief Executive Officer

Chief Executive Officers provide high-level guidance and strategic direction for an organization. They are responsible for the overall success of an organization and for making decisions that affect the entire organization. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania can be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for CEOs as they need to be able to understand and interpret financial data to make informed decisions.

See salaries and explore the career path for Chief Executive Officer

Risk Manager

Risk Managers are responsible for identifying, assessing, and mitigating risks. They are responsible for developing risk management plans, implementing risk mitigation strategies, and monitoring risks. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania may be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Risk Managers as they need to be able to understand and interpret financial data to make informed decisions about risk management.

See salaries and explore the career path for Risk Manager

Project Manager

Project Managers are responsible for planning, executing, and closing projects. They are responsible for developing project plans, managing project teams, and ensuring that projects are completed on time and within budget. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania may be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Project Managers as they need to be able to understand and interpret financial data to make informed decisions about project planning and execution.

See salaries and explore the career path for Project Manager

Product Manager

Product Managers are responsible for developing and managing products. They are responsible for conducting market research, developing product specifications, and launching products to market. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania may be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Product Managers as they need to be able to understand and interpret financial data to make informed decisions about product development and marketing.

See salaries and explore the career path for Product Manager

Sales Manager

Sales Managers are responsible for leading and managing sales teams. They are responsible for developing sales strategies, setting sales targets, and motivating sales teams. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania may be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Sales Managers as they need to be able to understand and interpret financial data to make informed decisions about sales strategy and execution.

See salaries and explore the career path for Sales Manager

Supply Chain Manager

Supply Chain Managers are responsible for managing the flow of goods and services from suppliers to customers. They are responsible for developing supply chain strategies, managing inventory, and ensuring that goods and services are delivered to customers on time and within budget. The Financial Acumen for Non-Financial Managers program from the University of Pennsylvania may be helpful as it helps build a foundation in financial reporting, income statements, cash flow statements, and financial statement analysis. This can be helpful for Supply Chain Managers as they need to be able to understand and interpret financial data to make informed decisions about supply chain management.

See salaries and explore the career path for Supply Chain Manager

Reading list

We've selected 18 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Financial Acumen for Non-Financial Managers.

Inteligencia financiera: lo que realmente...

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Provides a comprehensive overview of financial reporting and analysis, making it a valuable resource for non-financial managers who want to improve their understanding of financial data. It covers the basics of financial statements, including the balance sheet, income statement, and cash flow statement. It also discusses how to analyze financial ratios and other metrics to assess a company's financial health.

Financial Acumen for Non-Financial Managers

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What's inside

Syllabus

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Reviews summary

Understanding finance for non-experts

Activities

Career center

Reading list

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