| Mentors' Message: Why Understand Finance? Understanding Finance: The Basics Understanding Financial Statements An overview of the statements you need to assess your company's financial health. Accounting methods The income statement The balance sheet The cash flow statement Using Financial Statements to Measure Financial Health A menu of calculations you can use to evaluate your organization's financial soundness. Profitability ratios Operating ratios Liquidity ratios Leverage ratios Other ways to measure financial health The Budget Process Four stepstodevelopinganinformed,effective budget Understanding top--down and bottom-·up budgeting Preparing a budget Articulating your assumptions Quantifying your assumptions What Is Cost/Benefit Analysis? Techniquesfor determining whether to invest in aparticular initiative Steps of cost/benefit analysis Net return and payback period Net present value and internal rate of return Breakeven analysis Sensitivity analysis Estimating unquantifiable benefits and costs Tracking Performance Tacticsfordeterminingwhetheryourinvestmentispaying off Tracking the performance of an investment Tracking your budget Tips and Tools Tools for Understanding Finance Worksheets to help you create and track an annual budget,perform a breakeven analysis,and propose an initiative． Test Yourself A helpful review odconceptspresented in thisguide．Take it bedore and after you've read through the guide,to see how much you’ve fearned． Answers to test questions KeyTerms Definitions ofimportant and commonly used terms infinance To LearnMore Further titles of articles and books ifyou want to go more deeply intothetopic． Sources for Understanding Finance Notes Foryou to use as ideas come to mind |
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