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Financial Management

Certificate ID: HAMEC02
Learn how to communicate with finance personnel to interpret financial information, recognize risk and return in capital budgeting, interpret capital structuring decisions, assess the costs and benefits of business decisions, and drive operational and financial strategies for your organization.

A Cornell University
Certificate for as
little as $2640.00

Description

To drive innovation and organizational success, leaders need to make smart financial business decisions. They need to review and discuss proposals with finance managers and articulate project and investment proposals to decision-makers.

This series of six two-week courses in financial management is designed to help you make wise business decisions. This financial management certificate uses easily understood, relevant case examples and engaging, interactive exercises to demystify financial terminology, assumptions, and concepts. The series includes a combination of finance and accounting topics and enables you to:

interpret financial information
assess the costs and benefits of business decisions
apply risk and return considerations in capital budgeting
analyze the debt-equity decision
communicate operational and financial strategies

Who Should Enroll in This Certificate?

This series is essential for all levels of managers, directors, and company officers who are responsible for making financial or capital budgeting decisions within their organization and need to interpret and use financial data.

Requirements

Participants in these courses need one of the following financial calculators:

Hewlett-Packard 12C
Texas Instruments BA II Plus

Both are available for purchase directly from Amazon.com

Enrollment

To register, contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+1-607-330-3200 from outside the United States).

Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.

Courses in this Certificate

Mastering the Time Value of Money
- In today’s delicate global marketplace, it’s imperative that managers make smart decisions about projects and initiatives—carefully weighing costs versus future revenues and considering all outcomes. Managers should learn the “time value of money” concept and apply its principles to their daily work.
  
  In this course, you will use timelines and cash-flow calculations to track cash flow and payments; establish the value of securities and investments; and determine overall cost-effectiveness. The time value of money is a key concept in financial management and project development, and learning it will better prepare you to make smart business decisions.
  Course Format
  eCornell takes a problem-based approach to learning, and our courses are built around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.
  This course contains the following modules:
  - Intuition and Conceptual Framework.
    - Explaining the importance of the timing of future cash flows.
    - Using a cash-flow timeline to conceptualize TVM problems.
  - Basic TVM Tools.
    - Using a financial calculator to solve TVM problems.
    - Calculating the future and present value of a lump-sum payment.
  - Advanced TVM Tools.
    - Calculating the value of perpetuities and growing perpetuities.
    - Calculating the future and present value of annuities.
  Benefits to the Learner
  After completing this course, participants will be able to:
  - Make planning decisions in the present, based on the accurate calculation of cash flow projections.
  - Use a cash-flow timeline to conceptualize time-value-of-money problems.
  - Use a financial calculator to solve time-value-of-money problems.
  - Calculate present and future values of payments, perpetuities, and annuities.
  - Use these concepts as a foundation for making capital investment decisions.
Making Capital Investment Decisions
- One of the most important aspects of a manager's job is to evaluate the feasibility of new initiatives and to make sound investment decisions. This includes thorough research and analysis using financial decision-making tools.
  
  In this course, you will learn six capital budgeting rules that provide a framework for making sound project investment decisions. Examine how the rules differ from one another, and which rules are most applicable in various project settings.
  Course Format
  eCornell takes a problem-based approach to learning, and our courses are built around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.
  This course contains the following modules:
  - Conceptual Framework.
    - How value is created in a business.
    - How capital budgeting rules provide a framework for making project investment decisions.
    - Appropriate use of other accounting-based techniques such as return on assets and return on equity.
  - Basic Capital Budgeting Decision Rules.
    - Calculation and appropriate use of net present value (NPV) as a tool in making project investment decisions.
    - Internal rate of return (IRR), its strengths, weaknesses, and appropriate use as a decision rule.
    - Payback periods (PP), its strengths, weaknesses, and appropriate use as a decision rule.
    - Discounted payback periods (DPP), its strengths, weaknesses, and appropriate use as a decision rule.
  - Special Cases.
    - Calculation and appropriate use of profitability index (PI) as a decision rule.
    - Calculation and appropriate use of equivalent annual cost (EAC) as a decision rule.
  Benefits to the Learner
  After completing this course, participants will be able to:
  - Apply capital budgeting decision rules to make sound financial choices.
  - Accurately analyze decisions and projects for financial soundness.
Risk and Return: How to Identify, Measure, and Incorporate Into Capital Budgeting Decisions
- For the non-financial manager, this course introduces risk in capital budgeting, detailing precisely how it can be factored into budgeting decisions.
  
  Managers in today’s firms tend to work closely with finance, so having fundamental understanding of finance is imperative. Risk and return are critical components of capital budgeting and ultimately impact the value of an investment. This two-week course prepares non-financial managers to identify project risks and weigh them against expected returns.
  Course Format
  eCornell takes a problem-based approach to learning, and our courses are built around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.
  
  This course contains the following modules:
  - Considering Investment Risk.
  - How Firms Factor Risk into Capital Budgeting Decisions.
  Benefits to the Learner
  After completing this course, participants will be able to:
  - Explain how risk enters into the capital budgeting decision and the impact it will have on the ultimate value of the investment under consideration.
  - Interpret what you read in the Wall Street Journal.
Raising Capital: The Process, the Players, and Strategic Considerations
- Firms routinely look to external capital markets for funding and operating investments. Making complete, well-informed financing decisions at the corporate level requires a thorough understanding of capital markets. This course provides the theory behind capital market investments and demonstrates how external factors may influence debt-equity decisions, such as changes within the industry or prevailing economic trends.
  
  Learn to observe external economic data and develop strategies to balance debt and equity at your firm. You’ll also see how decisions regarding corporate restructuring, mergers, acquisitions and bankruptcy are made.
  Course Format
  eCornell takes a problem-based approach to learning, and our courses are built around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.
  
  This course contains the following modules:
  - Capital Structure Foundations.
  - Trade-Off Theory of Capital Structure.
  - Pecking Order Theory of Capital Structure.
  Benefits to the Learner
  After completing this course, participants will be able to:
  - View the process of raising capital in a broad context of capital-related decisions regarding the mix of capital and the process of entering into capital markets.
  - Explain how decisions in your department or division are influenced by capital structuring decisions.
  - Explain why changes in the industry and in the economy are important to capital budgeting decisions in your organization.
  - Contribute to decisions in your own firm more meaningfully with a good understanding of corporate restructuring, mergers, acquisitions, and bankruptcy.
Understanding Financial Statements
- Leaders and managers interpret and utilize financial reports regularly. Reports can help assess the overall financial performance of the organization, a particular department, or even the competition—providing a basis for sound decision making and action.
  
  In this course, participants will learn how to read and interpret income statements, balance sheets and cash flow statements. By understanding these three principal financial reports, participants can conduct advanced analysis of their firm's financial performance.
  Course Format
  eCornell takes a problem-based approach to learning, and builds each course around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.
  This course contains the following modules:
  - Reading the Income Statement.
    - Understanding the purpose of the income statement and its overall structure.
    - Interpreting the income statement line by line.
    - Using the income statement.
  - Reading the Balance Sheet.
    - Understanding the purpose of the balance sheet and its overall structure.
    - Interpreting the balance sheet line by line.
    - Using the balance sheet.
  - Reading the Cash Flow Statement.
    - Understanding the purpose of the cash flow statement and its overall structure.
    - Interpreting the cash flow statement at a detailed level.
    - Using the cash flow statement.
  - Other Elements of Financial Reporting.
    - The purpose of an annual report.
    - Online sources of financial information.
    - GAAP and FASB, and their influence on the structure and use of these financial statements.
  Benefits to the Learner
  After completing this course, participants will be able to:
  - Understand and interpret the information found in the three principle financial statements.
  - Understand how the three reports relate to one another and how they are combined (with additional information) to serve as an annual report.
  - Work with online sources of financial information to conduct research on other publicly-traded firms and industries.
Using Ratio Analysis to Evaluate Financial Performance
- Success in business depends first on an organization’s ability to analyze its financial standing. By carefully analyzing financial performance, an organization can identify opportunities and make adjustments to improve performance at the department, unit, or organizational level.
  
  In this course, you will learn to use several ratio-analysis instruments to assess financial performance so that the organization can then design and implement initiatives for increased productivity and profitability.
  Course Format
  eCornell takes a problem-based approach to learning, and builds each course around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.
  This course contains the following modules:
  - Asset Management Ratios.
    - Introduction to Ratio Analysis.
    - Working Capital Ratios.
    - Turnover Ratios.
  - Solvency and Capital Structure Ratios.
    - Liquidity Ratios.
    - Coverage Ratios.
    - Leverage Ratios.
  - Profitability Ratios and DuPont Analysis.
    - Margin Ratios.
    - Return on Assets and Equity Ratios and the DuPont System.
  Benefits to the Learner
  After completing this course, participants will be able to:
  - Use ratio analysis to identify areas of strong financial performance and those that need improvement.
  - Accurately assess the financial performance of a department, unit, or organization relative to its competitors or to its own past performance.

Accreditation / CEUs

HRCI Recertification

The courses in this certificate series have each been approved for six (6) Strategic Management recertification credit hours toward SPHR and GPHR recertification and six (6) recertification credit hours toward PHR, SPHR, and GPHR recertification through the Human Resource Certification Institute. Please contact the Human Resource Certificate Institute (HRCI) for further information about certification or recertification.

Accreditation

Participants who successfully complete all six courses in the series receive a Certificate in Financial Management from Cornell University.

"I now have a battery of tools to effectively manage and improve my small business. Many thanks for a well designed and presented course of study."
Student Testimonial,
Using Ratio Analysis to Evaluate Financial Performance
"My instructor pushed all students to participate beyond the minimum expectations and continually contributed to postings and conversations. He offered subject matter outside the simple realm of the course material when prompted."
Student Testimonial ,
Understanding Financial Statements
Course content and design was great. Not being a finance person, the presentations were presented at exactly the right level of difficulty for someone like myself.
John Shelver,
Making Capital Investment Decisions
"I truly appreciated the thought provoking feedback that my instructor provided which was done in an expedient manner."
Student Testimonial,
Making Capital Investment Decisions
The Financial Management certificate program I just completed at eCornell was one of the best I have participated in an online format. The courses were able to find the right balance between being informative and challenging, as well as adding to the professional knowledge of the student. They also presented difficult subjects with clarity, supported by robust instructor encouragement. This is what I expected from a top flight institution like Cornell University.
Garrett Matthews from Johannesburg, South Africa,
Certificate: Financial Management
I just finished the Financial Management program from eCornell and have recommended it to my group as additional training. I found the coursework, assignments and discussions to be great tools for those interested in becoming more involved with finance.
Ralph Carlton - CPSM Senior Sourcing Manager - Moen Incorporated from Cleveland, OH,
Certificate: Financial Management
I did the Financial Management Certificate last year (2010). The material is very challenging and be prepared that you really have to sit down and learn a lot, including math formulas. However, it is explained well and if you follow the course step-by-step and do not jump around, it is all logical. It definitely helped me to understand the financial part of our business, financial statements, etc. and evaluate where the company is standing. I also enjoyed exchanging experience with the co-students and the instructors. I recommend the courses. I learned a lot.
Susanne Drewes-Schmidt - Senior Director Business Operations - Trust International Hotel Reservation Services GmbH - Germany,
Financial Management Certificate
"I took this course with my staff so that I could evaluate their levels. I found the course very direct and to the point. It simplified the terminologies I use every day to my staff and I believe this course to be very effective."
Student Testimonial ,
Understanding Financial Statements
I rate it 10 out of 10. The program will force you to think about your responses to questions asked. Don't hesitate to take it. I encourage you to sign up. One of the things I really enjoyed was the fact that many of the students were from other countries and from different backgrounds in terms of work. I work for a bank and it helped tremendously.
Patti Avornyoh - Financial Sales Representative - Webster Bank from New York, NY,
Certificate: Financial Management
I have obtained certificates in Financial Management and Executive Leadership from Cornell. It was a rewarding experience. I was out of work for 13 months and when I finally did get an interview it was in mortgages (a branch of banking.) The hiring manager and I knew each other truly well. When he was trying to justify hiring me to his colleagues and superiors one of the tools he used were the certificates from Cornell University. Yes, at the end of the day it's about who you know, but I can honestly say the certificates were used in the hiring decision.
Aaron McNiel - MBA Customer Relationship Manager - Bank of America from Dallas, TX,
Certificates: Executive Leadership, Financial Management
The Financial Management program helped me to develop a better understanding of business analysis and forecasting. I would recommend this program to anyone who wishes to have a greater understanding of stocks/equity markets.
Rajesh Saxena - Internal Auditor - Catholic Relief Services from Lucknow, India,
Certificate: Financial Management
I took the Financial Management program, and though I don't think I've received more job offers solely because of the certificate, I do think it helped me land my last two supervisory positions. Being that the financial management certificate are my only direct courses in business, they have been very useful. The benefits, from my perspective, are in being more marketable for a move from supervisory to upper/executive management positions.
Peter Marotto - MEd Lead Safety & Security Officer - Security Industry Specialists, Inc. from Hartford, CT,
Certificate: Financial Management
"I just finished the Financial Management certificate last month (April 2011). I think the certificate is very interesting and the material covered is very helpful. It gives you a good introduction to Financial Management. The instructors were excellent!"
Samir Abou Nassif, Vice President Lebanese International University from Lebanon,
Financial Management Certificate
Excellent content, I'm involved in mortgage trading so this is highly relevant to my everyday activities.
John White,
Mastering the Time Value of Money
"Since I am an institutional investor, ratio analysis is key when poring over company financial comparisons. This was a well organized course that was presented in a clear and easy to follow manner."
Student Testimonial,
Using Ratio Analysis to Evaluate Financial Performance
As a lawyer I don't have an obvious link between this course and my current (or desired) job, but it was very useful in allowing me (forcing me?) to think more about the business aspects of the transactions my clients enter into - not to mention my own personal business activities and investments. I'm looking forward to the next course!
Mary Giannini,
Mastering the Time Value of Money
The Financial Management material is extremely challenging. However, if you have basic financial management analysis skills the courses will be a breeze. Speaking from personal experience, I was able to gain a substantial pay increase after the skills and information was verified.
Curtis Cobbins - Marketing Manager - Party USA - Las Vegas, Nevada Area,
Financial Management Certificate
The Financial Management certificate program has helped me see any industry using a more fiscally-minded approach. It has also led to some supervisory positions that I might not have been a candidate for prior to the certificate.
Peter Marotto, MEd - Lead Safety & Security Officer - Security Industry Specialists, Inc. from Hartford, CT,
Certificate: Financial Management

Technical Requirements