Demystifying Financials Course
Part of the WISE Leadership Series, this is a one day crash course that demystifies finance and accounting for non-accountants. The financial fluency taught in this course is foundational to all WISE Level II coursework.
Best suited for anyone who needs to understand business financial reports or manage a budget..
Note: WISE #203 is also included as part of the WISE #201 Management Core Course. If you are planning to also take WISE #202 on Leading People, it is more cost effective to do so by taking WISE #201 instead of both #202 and #203
This course is designed to take the mystery out of winery accounting and make sense of the three main financial statements. Attendees will work with a sample company as they learn to become comfortable with the language of business. In addition to understanding the three bottom lines, attendees will also learn how to evaluate options, work with key ratios, and spot red flags in financial statements.
Topics covered include:
- Accrual versus cash
- The matching principle and how it impacts the bottom line
- The three bottom lines
- Costing methods
- Book versus tax accounting
- Key metrics and measures
- How to find out where the money went in your winery
Attendees will leave this class with a new appreciation for the financial challenges of owning a winery, their role in supporting overall financial results, and the importance of asking questions.
Best suited for: This course is designed for non-financial people who want to understand business financial reports or budgets. It is ideal for anyone who is managing or controlling costs or who is accountable for financial or team results.