An average adult makes more than 35,000 decisions per day. For business owners, the number is possibly much higher. Business owners play a role in making decisions for their company, regardless of its importance. Hence, one needs to understand the types of business decisions to assess whether the decision is appropriate for its existing growth stage.
Financial analysis is one method that provides the most insights to a business owner regarding decision-making processes because financials are important for the business and stakeholders. Thus, businesses must adopt the right tools to analyse and forecast their financials to measure profitability and sustainability.
In addition to measuring profitability, financial insights can also highlight the outlook of the company's financial situation, allowing business owners to identify signs of financial distress and risks if any. Warren Buffett once said, "Risk comes from not knowing what you're doing." Therefore, financial risk assessment is an essential element for businesses to become successful. By adopting a proper risk assessment framework, companies analyse potential risks early and take suitable approaches to avoid losses.
With the right understanding and projection of the company's financials, business owners will then make more informed business decisions.
In this course,
01. Understanding Business Growth
You will learn to identify and understand the different stages of business growth and the types of business decisions made in each stage.
02. Analysing and Forecasting your Financials
To further analyse and forecast your financial data, you will learn the different types of forecasting methods. Subsequently, you will learn to identify the warning signs from your financial analysis and the right time to finance your business.
03. Identifying Financial Risks
You will learn to conduct a risk assessment on your business financials, using a step-by-step guide on identifying, analysing, and treating the risk.
By the end of this course, you'll have the knowledge and skills to forecast your financials and use financial insights to facilitate your business decision-making process.
What is going to be covered
· Understand the different types of business decisions made in a company
· Identify the stage of growth that your business is in
· Understand how the financials are expected to change alongside a change in the company’s business growth stage
· Understand the purpose, uses, and limitations of using financial forecasting
· Learn to use the different financial forecasting methods
· Learn to identify business warning signs from the company’s financials
· Understand the purpose of business financing
· Differentiate the types of business financing
· Learn to finance for your business at the right time
· Identify the types of financial risks that exist in a company
· Understand how to perform a risk assessment on your company’s financials
· (Slide) Courseware - How to Make Business Decisions Using Financial Statements
· (Excel) Worksheet — Workshop Activity 1 – Financial Forecasting
· (Excel) Worksheet — Workshop Activity 2 – Risk Assessment
· Business owners who wish to gain a better understanding of how they can use financial analysis to make business decisions
· Analysts who wish to perform financial forecasting and learn how to interpret them appropriately
By the end of the course, you'll be able to:
Meet your Instructor
Managing Partner of BlackStorm Consulting
Shelby Tee is the Managing Partner of BlackStorm Consulting. Shelby is always keen on exploring, learning new things, and nothing excites her more than a new challenge. Her expertise lies in corporate and product marketing, project management, business operations and crisis management.
Being in the cut-throat world of retail marketing and project management for nine years has allowed Shelby to quickly identify clients’ needs and deliver the best for them. In addition, her experience in a wide variety of industries has led her to adapt to any situation and environment.
Covers an overview of the content of the course.
There are a total of 12 videos covering three lectures in this course:
· Lecture 1: An Overview
· Lecture 2: Financial Forecasting Analysis
· Lecture 3: Risk Assessment
You will be able to access the following materials in this course:
· Course Slide Deck (PDF)
· Info Sheet (PDF)
· Workshop Activities (Excel)
Understand the types of business decisions that are made in an organisation.
Understand the different stages of business growth and how their financials change at each stage.
Understand the types of financial forecasting methods and how to utilise them.
Understand how to identify financial warning signs from financial statements.
Understand how to identify financial warning signs from financial ratios.
Understand how to conduct business financing at the right time.
Understand the types of financial risk and an overview of the risk assessment.
Understand the first step of the risk assessment on identifying risk.
Understand the second step of the risk assessment on analysing risk.
Understand the third step of the risk assessment on treating risk.
Understand how to apply risk assessment to your company with a demonstration using a case study.