Business Finance Course

WMC Management Skills Training Program – What you’ll Learn

This page lists the workplace skills that you will gain by successfully participating in this course module.

 

Business Finance for the Woodworking Industry

Business Finance

The Business Finance module is aimed at management-track employees without formal financial training who need a basic grounding in financial concepts so that they can manage budgets, analyse return on investment of new acquisitions, produce forecasts related to sales or operational costs, etc. It may also be useful for small business owners and entrepreneurs wishing to refresh or upgrade their knowledge.

 

(Microsoft Excel spreadsheet skills are required)

  • Be able to generate accurate raw accounting data
  • Have knowledge of financing options, sources of capital, basic accounting skills, understanding financial statements (balance sheets, income statements, statements of cash flow, etc.), measures of assessment (e.g. operating profit versus net profit)
  • Describe the difference between fixed costs and variable costs
  • Explain time value of money, payback periods, and net present value
  • Explain and use basic accounting terminology
  • Perform cost benefit calculations

 

“This is the first time I have actually understood this stuff, and I find it rather interesting, so thank you!” – Jason Stafford, BC Ministry of Forests – course participant 2010