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Finance and Accounting for Non-Finance Executives

Date
May 21 - 23, 2014
Location
NYU Campus, Greenwich Village
Cost
$5,100 (Accommodation not included)
Other Dates

This program prepares executives with a general understanding of accounting and financial principles as they relate to organizations' operations and decision-making processes. It also prepares financial analysts and investors with a general understanding of the valuation content and limitations of financial statement information. Starting with a review of financial data in a company's annual report and accounting statements, participants will gain a well-rounded understanding of how basic accounting information may be used in communicating with financial managers, as well as to assess a firm's future prospects and value. The remaining time will be spent covering finance principles relevant to leaders whose primary job responsibilities are outside of the finance function with implications for project decisions, corporate structure and performance measurement. This will involve examining how project choice maps to various financial metrics and highlighting common pitfalls in this process, such as recent psychological biases described in the field of Behavioral Finance.

The format of this three-day program includes a combination of: lecture on basic but important finance and accounting principles; interactive discussion of actual financial statements and policy decisions in a range of situations including the current financial environment; and group analysis of cases involving relevant, real world financial issues. 

Program Benefits:

During this program participants will:

  • Analyze a firm's annual reports and statements to interpret the data for use in the organization and to assess a firm's future prospects and value
  • Learn how to communicate more effectively with finance colleagues
  • Develop an understanding of the foundational elements of finance, including valuation metrics for project choice, and the driving forces behind corporate finance decisions and results - namely incentives, information, and psychology
  • Evaluate concerns related to the acquisition/investment decisions of the organization and their funding
  • Apply the principles of accounting and finance to shed light on various business events - ranging from the general aspects and implications of financial crises and trends to participant-specific issues such as performance measurement, compensation and project choice.
     


This program is eligible for Continuing Professional Education Credits (CPE).  Please contact the NYU Stern Executive Education office for more information.

*Please note that the program is subject to be cancelled under unforeseeable circumstances.

Program Faculty

Eli Bartov

Eli Bartov is a Research Professor of Accounting at the Leonard N. Stern School of Business, New York University. Professor Bartov's research focuses on executive stock options, earnings management, earnings expectation management, executive compensation, and various aspects of equity valuation. Professor Bartov has testified on issues related to financial reporting, executive compensation, insider trading, and equity valuation in securities fraud cases, contract disputes, and other litigation. Read his full bio


Anthony Marciano

Anthony Marciano joined New York University Stern School of Business as a Clinical Professor of Finance in August 2007. Professor Marciano teaches corporate finance courses to M.B.A. students, undergraduates and executives. He has also overseen the Michael Price Student Investment Fund, a student-run fund with a value of about $2 million.

Prior to joining NYU Stern, Professor Marciano taught courses on advanced corporate finance and mergers and acquisitions at MIT Sloan School of Management. From 1994-2006, he was a Clinical Professor of Finance at the University of Chicago Graduate School of Business teaching M.B.A. and Executive M.B.A. courses. Professor Marciano has been named to BusinessWeek's list of outstanding faculty. Earlier, he worked at Goldman Sachs, Morgan Stanley and Drexel Burnham Lambert. Read his full bio


Program Participants


Who Should Attend:

  • General and functional business managers who interact regularly with the firm’s finance area
  • Managers who make business decisions that affect the firm’s financial results, or are impacted by financial models
  • Financial analysts and investors who would like to understand how to interpret the data in financial statements to assess a firm's future prospects and value
Program Agenda
Day One Day Two

Session 1

Introduction to Accounting

Session 2

The Balance Sheet


Session 3

The Balance Sheet (Cont'd)

Session 4

The Income Statement


Networking Reception


 Session 5

Introduction to Corporate Finance 
and Value-Based Principles

Session 6

Generating and Measuring
Performance in an Acquisition

Session 7

Common Pitfalls in Project and
Investment Choice

Day Three

Session 8

The Income Statement (Cont'd)

Session 9

Case Study: America Online

Small Group Sessions

Session 10

The Cash Flow Statement; AOL Case

Program Conclusion:
Integration and Evaluation

 

Program Session Details

Day 1


Session 1

Introduction to Accounting

  • What do financial accountants do?
  • The annual report


Session 2
The Balance Sheet

  • Presentation of assets on the balance sheet
  • Valuation of assets


Session 3

The Balance Sheet (Cont'd)

  • Presentation and valuation of liabilities
  • Off balance sheet financing
  • "Cookie jar" reserves
  • Fundamental analysis based on balance sheet information assessing a firm's riskiness

Session 4
The Income Statement

  • Presentation of the income statement
  • Revenue and expense recognition
  • Accrual accounting
  • Capitalization versus expensing


Networking Reception



Day 2


Session 5

Introduction to Corporate Finance and Value-based Principles

  • Description of areas of Corporate Finance: Valuation, Financial Structure, and Acquisitions
  • Observe how business decisions map to financial performance measures, such as profit/loss
  • Measure performance through a host of metrics including: return on investment, value-added and share price
  • Use finance to make more effective operational management decisions


Session 6
Generating and Measuring Performance in an Acquisition

  • Determine attractive Acquisition Targets
  • Value a project strategy and its impact on operational decision making
  • Plan Acquisition Strategies and Structures
  • Case Analysis: Gulf Oil
  • Group discussion
     

Session 7
Common Pitfalls in Project and Investment Choice

  • Financial Measurement and Incentive Problems in a Corporation
  • Soundness of Financial Projections in a world of Information Uncertainty and Signaling
  • Behavioral Finance: Psychological Bias in Project Choice
  • Introduction to the areas of Bounded Rationality, Social Capital and Commitment  

Day 3


Session 8

The Income Statement (Cont'd)

  • Fundamental analysis based on income statement information assessing the integrity of financial statement information and firm's performance


Session 9
Case Study: America Online

  • Small group discussion and analysis

Session 10
The Cash Flow Statement; AOL Case

  • Preparation of the cash flow statement
  • Understand the differences between the cash flow statement and income 
  • Fundamental analysis based on cash flow information
  • America Online: Case Analysis and Class Discussion

Program Conclusion: Integration and Evaluation