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e-Learning: Financial Acumen Library

Financial Acumen - a program by Harvard Business School Publishing delivered online by New Horizons

Financial acumen and a practical understanding of business accounting is required of all managers to drive productivity and efficient use of corporate resources. Now legislation is reinforcing this fundamental business need.

Every functional manager makes decisions that impact the bottom-line. These decisions affect the activities of personnel, the utilization of equipment and materials, and the allocation of corporate funds. It is therefore good practice to ensure these decision-makers have a sound understanding of financial and accounting principles, and the way their actions affect the financial health of the business.

Recent failures of major U.S. Corporations have uncovered two weaknesses in corporate governance, control of some businesses by unethical leaders and lack of financial oversight to prevent malfeasance. The latter, in part, has led to legislation that is designed to make managers more financially accountable. The Sarbanes-Oxley Act’s section 404 requires public companies and their auditors to attest to the effectiveness of internal controls for financial reporting (Information Week, November 10, 2003).

It is becoming apparent that every corporate manager, as a steward of their company, must have a basic understanding of finance and financial accounting to use resources most effectively and to minimize legal exposure.

Now, an eLearning program to establish parity in understanding finance among managers

New Horizons has introduced a new eLearning program co-developed with Harvard Business School Publishing that addresses the corporate need to bring knowledge of the finance discipline to all managers while driving a sense of accountability and ownership for corporate business practices.

Finance for Managers

Finance for Managers is used by incoming MBA students at the Harvard Business School to prepare for their coursework. The program will introduce the student to the financial system, and to the characteristics and uses of various financial instruments. Course objectives include mastery of several critical analytic techniques, including: ratio analysis, discounted cashflow, proforma forecasting and bond-math.

Financial Accounting

Financial Accounting, a required course for all incoming MBA candidates at the Harvard Business School, will help the student communicate in the language of financial accounting, and use accounting information to make sound business decisions. The student will learn how to: apply accounting concepts, record economic events in the accounting system, prepare and navigate financial statements, and use basic financial ratios.

Financial Acumen develops competencies such as:

  • Managing finances and budgets
  • Understanding capital budgets
  • Understanding the influences of the stock market
  • Using ratio analysis in forecasting
  • Calculating financial trends
  • Building financial statements, income statements and cash flow statements
  • Recording transactions
  • Using journals and ledgers

Included Courses

Finance for Managers (Harvard Business School Publishing Program)
Finance for Managers (Harvard Business School Publishing Program) (Quicktime plug-in required)
Financial Accounting (Harvard Business School Publishing Program)
Financial Accounting (HBSP Program) (Quicktime plug-in required)