As a human resources professional, the ability to interact effectively with the accounting and finance departments within your organization is a vital skill. This course provides an introduction to U.S. accounting regulations and practices that will enable you to better speak the language of finance and accounting. You will gain skills allowing you to interact more effectively with these departments and make HR decisions that impact and support your organization’s financial health.
The course will empower you with foundational understanding of the following concepts:
- The key financial components of the annual report.
- The relationship between HR and the finance and accounting departments.
- The measures and processes used to assess a company’s financial health.
- The importance of cash flow to the company and shareholders.
- Methods of financing the business and issues related to financial planning.
This course is designed for the HR professional seeking to gain understanding in the areas of accounting and finance.
Specific areas covered include:
- Introduction to Accounting
This accounting primer provides learning in the areas of governing bodies and policies, major groups of accounts, financial statements, accounting types, financial measures, problems with accounting, underlying accounting principles and the components of the annual report.
Become a pro at interpreting balance sheets by learning about assets, liabilities, shareholders’ equity, the summary concept, liquidity measures and debt ratios. You will also practically apply your knowledge of balance sheets in a class exercise.
You’ll never be intimidated by an income statement again once you learn about revenue/sales, cost of goods sold, gross margin, operating expenses, other income and expenses, the provision for taxes, net income, as well as the financial measures of earnings per share and return on sales. You will also practically apply your knowledge of income statements in a class exercise.
- Statement of Cash Flows and Shareholders’ Equity
Review the statement of cash flows and statement of shareholders’ equity. Focus on the two methods and three categories associated with the statement of cash flows.
Develop a better understanding of financial measures/ratios, including liquidity measures, debt ratios, profitability measures, funds management ratios and other performance measures. You will also apply financial analysis in a class exercise.
- Planning and Financing the Business
Learn the concepts of financial planning, including the typical planning process, developing business plans and evaluating capital projects. Understand financing sources, including long- and short-term sources and leases.
- The Strategic Partnership
Put it all together in this section covering the critical relationship between HR and finance. Learn about recording compensation and benefits costs, wages and salaries, incentive pay, benefits costs, mandatory benefits, welfare benefits, retirement plans and communication.
This course will provide you with the skills and knowledge you need to understand finance and accounting fundamentals. It will empower you to become an asset to your company through your ability to make HR recommendations and decisions that impact the financial health of the organization.
Register for the event at worldatwork.org: