University of the Aftermarket offers new seminar

The University of the Aftermarket has announced a new program that focuses on the essential finance and accounting skills that aftermarket professionals in all industry channels must understand.

Billed as “Financial Skills for Non-Financial Professionals,” the two-day course will cover basic financial statements (balance sheet, income and cash flow statements), managerial accounting, budgeting, reading quarterly/annual statements, understanding financial concepts and their practical application, aftermarket case studies, as well as the use of different types of financial resources. Participants will leave the course with an understanding of finance and accounting concepts, as well as their practical application in a variety of aftermarket business environments.

“Understanding the numbers is an important skill, especially for those who want to advance their careers,” a release from the University of the Aftermarket states. “Yet many in the industry are put in positions in which they manage or influence numbers, but they have no formal background in finance or accounting.”

The program will be held Nov 13-14, 2012 at the Sloan Family Building for Aftermarket Studies on Northwood University’s campus in Midland, MI.

The program is specifically designed for aftermarket professionals in any market segment who want to improve their understanding of financial and accounting concepts in an aftermarket framework.

Participants will learn:

Key finance terms: assets, liabilities, capital, depreciation, capitalization, important financial ratios.

Financially based decision making

Fundamentals of Excel

Basic accounting principles

Applying & understanding accounting conventions and guidelines

Developing working rules regarding corporate financial statements

Using the balance sheet to examine assets and liabilities

Analyzing the income statement to assess revenues and expenses

The statement of cash flow: sources and uses of funds

Content and format of the annual report

Debt vs. equity financing

Keeping your plan on target with budgetary controls

Using profit-planning tools, break-even analysis and financial forecasting

Cash flow: where cash comes from and how it’s applied

Elements of cost accounting

Analyzing payback method, discounted cash flow, present value and present value index in making decisions

Understanding the cost of capital

“This program is not for financial or accounting professionals,” explained Brian Cruickshank, director of the University of the Aftermarket. “Rather, it was created for everyone else in the aftermarket who touches, manages, influences or needs to understand the numbers. This would include managers, sales professionals, business owners, and anyone who want to improve their financial acumen.”

The cost of the program is $1,495 and includes all meals. Affordable on-campus hotel housing is available. Industry professionals may register at www.universityoftheaftermarket.com. Click “Course Calendar” and scroll down to find the program’s listing.

To learn more, call 1-800-551-2882.