Lesson series

Financial Planning and Management - 35 hours 

Financial Planning and Management

Course Overview

This course covers the production and analysis of financial statements for a home building business, as well as the essential skills required to manage a successful business. Students will review basic accounting concepts and financial reporting, study financing sources and debt management, and explore financial planning and business performance evaluation techniques. Additionally, students will learn how to create budgets, cash flows, and pro-forma financial statements as tools for building a profitable business.

Course Learning Outcomes / Competencies

Upon successful completion of this course, students will be able to:

Explain the Role of Accounting in Financial Management and Planning

Understand the integration of accounting into broader financial management and planning processes.

Interpret Accounting Transactions and Their Relationship to Financial Statements

Analyze how transactions impact financial statements and the overall financial health of a business.

Demonstrate Basic Understanding of Accounting Concepts, Principles, and Practices

Use double-entry bookkeeping principles to record transactions for a construction business.

Complete Accounting and Financial Transactions within an Accounting System

Execute accurate financial transactions and maintain comprehensive records within an accounting system.

Prepare Financial Statements for a Construction Business

Create key financial documents, including the Income Statement, Cash Flows, Statement of Owner's Equity, and Balance Sheet.

Describe the Nature and Purpose of Pro-Forma Statement of Operations

Differentiate between various financial reports and understand the purpose of pro-forma financial statements.

Interpret Financial Reports

Analyze and derive insights from financial reports to inform business decisions.

Evaluate Financial Performance Using Key Financial Ratios

Use financial ratios to assess and compare the financial performance of a business.

Prepare Operating Budgets and Differentiate Various Budgetary Controls

Develop operating budgets and understand different methods of budgetary control.

Conduct Cost and Profit Analysis

Perform detailed analyses of costs and profits to optimize business performance and profitability.

This course equips students with the practical skills and knowledge necessary for effective financial planning and management in the home building industry.