Managing for Asset Control

Overview/Description
 Every company must take actions to safeguard, control, and manage the assets it owns. As a business manager, it's your responsibility to set up policies and procedures to safeguard your company's assets--especially cash assets. In this course, you will learn about cash transactions, inventory control, and accounts receivable management. These lessons will provide you with the knowledge and skills you require to apply internal control principles and to effectively manage assets.

Target Audience
 This course is targeted specifically for business managers, financial professionals, and other internal decision makers of an organization who need to understand managerial accounting.

Expected Duration
5.5 hours

Lesson Objectives:

Accounting for Cash Transactions

  • recognize the benefits of understanding the controls and procedures of accounting for cash transactions.
  • identify examples of the basic requirements of an internal control system.
  • identify examples of common techniques employed to control cash.
  • determine a company's financial liquidity based on a quick ratio calculation.

    • Inventory Control

  • recognize the benefit of applying inventory control and reduction techniques.
  • sequence the steps to perform an ABC analysis.
  • choose the category A inventory items based on an ABC analysis for a given scenario.
  • calculate the EOQ value for a given inventory item in a scenario.
  • determine the EOQ effect on cash flow for a given scenario.
  • calculate the days of inventory on hand for a given scenario.
  • determine a course of action based on the days of inventory on hand, given a scenario.

    • Accounts Receivable Management

  • recognize the benefits of understanding accounts receivable management techniques.
  • calculate the days sales outstanding for a specified business scenario.
  • determine if a customer qualifies to receive continued credit based on a days sales outstanding analysis of a given customer's account.
  • calculate a given company's total weighted days sales outstanding for a specified quarter.
  • determine the appropriate course of action based on the efficiency of collections for receivables for a specified quarter.

    • Course Number: FIN0243