Financial Analysis for Nonfinancial Managers 

Gain a practical understanding of how to interpret and use internal and external financial reports to inform and influence the decision-making process. Once you know how to translate this financial information, you’ll be able to apply it to your business immediately.

As a leader in your organization, having a firm understanding of financial principles is crucial to achieving strategic growth. This program will increase your ability to interpret financial reports, better communicate with financial officers in your organization, evaluate your unit's financial performance, and make sound financial decisions.

After completing the program, you will be better able to communicate the financial goals and performances of your department within your organization as well as to outside sources.

By attending this program, you will:

  • Read, understand, analyze, and interpret internal and external financial reports for the purpose of using this information to make better business decisions.
  • Understand accounting rules and principles and gain an appreciation for the effect of US GAAP and IFRS accounting methods on the reported financial results.
  • Enhance your ability to forecast financial performance and better manage your financial resources.
  • Use the concept of the time value of money and decision metrics such as net present value (NPV), internal rate of return (IRR), and payback to make investment decisions.
  • Increase your effectiveness in strategic planning and decision-making.

Location

Chicago Booth, Gleacher Center, Chicago, IL

This program is designed for mid- to senior-level executives from across an organization, within a wide-range of industries, who do not have formal training in finance and accounting and wish to develop or update their knowledge of core finance and accounting principles.

This program will also benefit those in professions such as consultants, scientists, engineers, healthcare, small- medium sized business owners, and other professionals who want to increase their financial acumen to make better business decisions.

Philip G. Berger

Wallman Family Professor of Accounting
Phil Berger served on the faculty of the Wharton School from 1991 – 2002 (including as a tenured Associate Professor from 1998 – 2002) before joining Booth as a tenured Full Professor on July 1, 2002. His research focuses on financial reporting and corporate finance, he has published in all the top peer reviewed accounting and finance journals, and he has been an editor of Journal of Accounting Research for over 15 years. Berger has chaired or served on the dissertation committees of many top accounting students from Booth who currently work at such top schools as Harvard, MIT, Wharton, Stanford, Columbia, Ohio State, Washington University, UCSD, and others. Having recently completed a three-year term as Deputy Dean for Booth’s part-time MBA programs (evening, weekend, and EMBA), he continues serving as the Director of Booth’s Accounting Research Center.

His teaching interests are mainly in financial accounting, financial statement analysis, and empirical accounting research. His teaching experience covers undergraduate, MBA, executive, and Ph.D. courses. While at Wharton, he won every MBA teaching award that the Wharton School offers. At Chicago Booth, he has been awarded the 2011 Phoenix Prize.

Berger holds Ph.D. and MBA degrees from the University of Chicago as well as undergraduate and graduate degrees from the University of Saskatchewan, Canada.

Hans B. Christensen

Professor of Accounting and David G. Booth Faculty Fellow
Hans Christensen studies international accounting harmonization, debt contracting, and transparency regulation in financial and non-financial markets. His papers have been published in the Journal of Accounting & Economics, the Journal of Accounting Research, Review of Accounting Studies, and Review of Financial Studies.

Within the corporate world, Christensen previously worked with the firm PricewaterhouseCoopers (PwC). At PwC, he audited financial statements which were prepared according to US-GAAP, IFRS, and various national European accounting standards, as well as worked on complex deals such as M&A transactions.

"During my work with PricewaterhouseCoopers, I observed how firms choose to account for similar events in very different ways, particularly when comparing them across countries," he said. "My research now focuses on why firms make these different choices and what the consequences are."

Christensen earned a PhD in accounting from Manchester Business School in the United Kingdom and joined the Chicago Booth faculty in 2008. He hopes that his students take away an understanding of accounting that allows them to read and understand financial reports and make better decisions based on the information in them.

Outside of academia, Christensen has been preparing for the Chicago Marathon for the past ten years and he hopes he will be able to run it soon. He also enjoys traveling.

Haresh Sapra

Charles T. Horngren Professor of Accounting
Haresh Sapra studies the real effects of accounting measurement policies, disclosure regulation, and corporate governance. His current research deals with issues of disclosure, transparency and financial reporting for financial institutions. For example, how do accounting measurement rules impact the optimal design of prudential regulation for financial institutions? To what extent should accounting and prudential regulation be linked? What is the impact of loan loss provisioning models on banks’ risk-taking behaviour? His research has been published in journals such as The Accounting Review, Journal of Accounting Research, Games and Economic Behavior and the Journal of Accounting and Economics. He teaches financial accounting to Executive students and a PhD course on the economic modeling of accounting issues. He has previously taught an MBA elective on Mergers and Acquisitions and Corporate Restructuring Issues to full time and part time students

Sapra has won numerous teaching awards in all the programs at Booth. Sapra has been named one of the top-ranked professors in BusinessWeek's Guide to the Top Business Schools. Sapra has also the Ernest R. Wish Accounting Research Award for his paper "Do Mandatory Hedge Disclosures Discourage or Encourage Excessive Speculation?"

Sapra earned a PhD in Business Administration in 2000 from the University of Minnesota and then joined the Chicago Booth faculty in 2000.

Sapra is an accomplished runner who has competed in over thirty marathons with a personal best time of 2:53:06.

Kathleen Fitzgerald

Adjunct Associate Professor of Strategic Management

Kathleen Fitzgerald is known at the University of Chicago as a superb educator. She brings a remarkably wide array of experience as an educator and a practitioner to the classroom. She has taught courses in Investments, Corporate Finance, Financial Accounting, Money and Banking, International Finance and Financial Management.

She is currently teaching for the University of Chicago Booth School of Business and the University of Chicago Law School. Her past experience includes the University of Massachusetts, Rochester Institute of Technology, and several Universities in Barcelona, Spain.

Kathleen also holds the position of Director of Academic Support at the University Of Chicago Booth School Of Business in Chicago, London and Hong Kong in which she prepares students of Chicago Booth Executive MBA program for the rigors of Chicago’s quantitative approach to finance, economics, statistics, and marketing.

Her professional experience includes auditing and tax consulting at Ernst & Young, LLP and forensic accounting consulting at Chicago Partners.

Kathleen graduated from the University of Massachusetts in Amherst with a Bachelor’s Degree in Economics in 1990 and a MBA in 1994. She passed the Unified C.P.A. examination in 1994 and holds a Masters in Business Administration from the University of Chicago.

PRE-WORK TO LAY THE FOUNDATION

Participants get access to a web-based, learner-driven program to help them build their financial acumen. Each module features self-tests, allowing them to tailor their learning and focus their time on the modules least familiar to them. This multi-media tool is used as a way to establish a baseline of knowledge to make the time in the classroom as productive as possible. 

Analyzing Historical Performance

  • Financial statements: balance sheet, income statement, and statement of cash flows
  • Accounting rules and conventions: GAAP and IFRS, historical costs, matching
  • Financial analysis tools: ratio analysis, multiples and comparables, cash flow analysis
  • Special topics: goodwill and intangibles, deferred taxes, restructuring charges, segment reporting, earnings management

Forecasting Financial Performance

  • Present values, capital budgeting, and project evaluation
  • Income taxes and investment decisions

Overview of Firms' Internal Information Systems

  • Objectives of cost accounting systems: introduction to product costing, integration of the costing system with the financial reporting system, use of cost data to support pricing decisions
  • Costing systems in non-manufacturing environments, especially in service industries
  • Limitations of traditional costing systems; signals of problems

Activity-based Costing and Activity-based Management Systems

  • How they work and their advantages and disadvantages

Using Cost Information to Understand Profitability and Corporate Strategy

  • Linking the costing system to corporate strategy
  • Applying costing methods to understand customer profitability
  • Cost behavior: fixed versus variable costs, break-even analysis, contribution margin analysis, sunk, incremental, and opportunity costs

Planning, Control, and Evaluation Systems

  • Preparing and using master and flexible budgets
  • Analyzing budget variances
  • Measuring performance: financial and nonfinancial measures such as ROI, EVA®, and balanced scorecard
  • Designing incentives to motivate profit-maximizing behavior

This program provides excellent value for the time and money invested by the participants.  The content is concise and relevant, the case studies are contemporary and the faculty does an excellent job reflecting on the real life examples behind all the concepts taught in the class.

- Vivek Walimbe, Senior Manager, Medtronic    


 As I look back at the week, I realize how much knowledge I have gained.  While this course is for non-financial managers, it did give me increased confidence and macro context on issues of financial management.  The faculty were outstanding and engaging.  Thank you!

- Grace Hou, President, Woods Fund Chicago   


This course was superb.  Though I had limited financial analysis knowledge coming in, I learned an unbelievable amount in a week’s time.  Most importantly, I now have a basis by which I can think critically about financial issues affecting the workplace.  A bonus was the opportunity to interact with such intelligent and insightful classmates who represented such a wide range of industries.

- Timothy Van Natta, M.D., Los Angeles County Harbor – UCLA Medical Center   


The structure of the course fit the bill for me.  I look forward to using new skills when evaluating my firm and applying them to important decisions.

- Matthew Odum, President, Briljent, LLC


In my own way, I was sort of dreading this week.  Five days talking about accounting didn’t sound fun to me, but I found that it was interesting and engaging.  I now see an even bigger picture to the strategic direction of my company.  These five days were incredibly valuable to me!

- Vicky Wolfe, General Manager, College Division, Herff Jones


The case studies were fascinating, practical and very informative. I'll use these models in my current role to make a better, well rounded decision in my day-to-day and yearly budget planning.

- Erik Erickson, Director Transportation Services, Union Pacific Railroad


I thought my week here was well spent. The course content was relevant and well presented. Instructors did a very good job of simplifying the financial concepts and increasing my knowledge of the language and principles discussed. I would recommend this course to anyone of financial responsibilities/ownership in their business. Thank you for a productive week!

- Erik Christensen, General Manager, Premium Wood, Armstrong World Industries, Inc.


I was delightfully surprised to find the instructors to be more of seasoned business professionals and sharp economists than dry 'bean counters' presenting mere theory. The course was worth the investment and will yield returns in my new role with my firm.

- Scott Roehr, COO, TPD, Inc.


The professors did such a phenomenal job in explaining rather difficult, and to some, “dry” subjects in a fashion that made sense and was exciting, all the while utilizing real life examples to drive the point home. This really shows their level of ultimate competence as subject matter experts.

- Mike Adloo, Senior Director, Health & Wellness, Walmart


Upcoming Courses

Date Fee
December 14-18, 2020 $10,950 Register Now