January 26-28, 2009
$2400
Registration is limited to 36 participants. Register now to secure your seat!
Listen to a podcast of an interview with Dr. Drake on the compelling stories financial statements tell about companies.
Earn 2.4 Continuing Education Units (CEU's).
As a manager, you are often required to make intelligent use of financial data to allocate resources and to control your department. The skills to assess your organization's financial condition and evaluate its position in the overall market are vital. To be successful, you need to know how to read a financial statement, determine a project's return on investment, and understand the mechanics of the financial marketplace.
This program will provide you the fundamentals of financial literacy. You will learn the meanings behind the numbers and develop the confidence to communicate intelligibly with the financial managers and accountants in your company. You will take away practical financial practices that will improve your organization’s performance.
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If your career has progressed from a functional to a managerial position with P&L and budgeting responsibility or if you are looking to enhance your understanding of finance and accounting concepts, then this class is for you.
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You will gain a practical understanding of financial concepts and metrics, enabling you to make managerial decisions with full consideration of the financial implications of those decisions. Specifically, you will gain an understanding of:
- The Economic and Policy Context of Financial Management
- The Interface Between the Business Firm and the Financial Markets
- Financial Markets and Interest Rates
- The International Context of Financial Management
- Regulatory impact on Financial Markets and Management.
- The Fundamentals and Interrelations of Financial Statements and Analysis.
- The Fundamental Tools used in Financial Management – time value of money, financial ratio analysis, financial statement construction, pro forma analysis, contribution margin analysis, incremental fixed costs, opportunity costs, irrelevance of sunk costs, and cost-volume-profit analysis.
- Capital Budgeting Basics – Discounted Cash Flows, Assumptions and Decision Making.
- Cost Behaviors and their Measurement in Activity-Based Costing.
- The role of the Sarbanes-Oxley Act in internal controls and financial reporting.
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The curriculum is designed to be highly interactive, combining lectures, case studies, group discussions and hands on applications.
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Philip D. Drake is a Clinical Associate Professor in the School of Accountancy. He holds a B.S. in Accounting (cum laude) from the University of Alabama and a M.A. and Ph.D. from The Ohio State University. Dr. Drake is a licensed CPA in Texas and holds a Certified Financial Planner designation and an Accredited Investment Fiduciary Auditor designation.
Professor Drake's research on litigation issues facing initial public offerings and accounting firms has been published in both academic and professional journals and is cited in accounting, finance, and law. His research was an integral part of the Senate Staff Report used in drafting the Private Securities Litigation Reform Act of 1995.
Dr. Drake also served as Chief Investment Officer at Inspired Capitalworks, LLC, Financial Advisor at Morgan Stanley, and part-time CFO for Nature's One, an organic baby formula company.
Herbert M. Kaufman is a Professor of Finance in the Department of Finance and was the department's Chair from 1991-2004. Chair of the Department of Finance and at Arizona State University. Dr. Kaufman received his Ph.D. degree in Economics from the Pennsylvania State University in 1972.
Professor Kaufman's current interests include research on hedge fund returns and flows, Government Sponsored Enterprises, and financial market integration. He has published extensively in academic journals on topics in investments, monetary policy, federal agencies, and the capital markets. He is the author of Money and Banking, which was published by D.C. Heath, and Financial Institutions, Financial Markets, and Money, which was published by Harcourt Brace Jovanovich.
Prior to coming to Arizona State University in 1973, Dr. Kaufman was an economist with the Federal National Mortgage Association in Washington, D.C. He has consulted on financial issues for the New York Stock Exchange, law firms, commercial banks, savings and loan associations, and government agencies, including the U.S. Treasury, the World Bank, the Congressional Budget Office, and the General Accounting Office.
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- Economic and Finance Basics
- Understanding Financial Markets
- Understanding Financial Statements
- Financial Forecasts
- Uncertainty and Risk
- Activity-Based Costing
- CVP Analysis
- TMV and Capital Budgeting
- Sensitivity Analysis
- Financial Statement Analysis
- Regulatory Issues - Sarbanes Oxley
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At the time of registration, you may pay the program fee of $2400 by credit card or request that an invoice be sent to you or your company for payment. The program fee includes all instructional material, lunches, and breaks. Classes will be held on the Tempe campus of Arizona State University. Please refer to the list of local hotels for lodging options.
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