Become Finance-Savvy with Help From Executive Education Programs
If your career path is more on the creative side, chances are you didn’t take many — or any — courses in finance while in undergrad. For journalism, communications, or English majors, it’s likely the last math class you had was in high school and that was because you had no say in the matter.
There’s nothing wrong with not being blessed with a gift for mathematics, but having a solid insight into financial math is beneficial in the long run. By being in a managerial position, your understanding needs to broach the financial aspects of your company to assist in growth-based decision making, knowledge of costs, and to establish rapport with financial experts.
Getting to know the functions of your company's financial arm will help you understand how the business is performing and what resources your department can afford. If your head spins when you look at a balance sheet or you crave a better grasp of the cost of goods sold, accounting practices, time value of money, or operating budgets, then it’s time to discuss taking part in executive education programs with your supervisor.
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Photo courtesy Daniels College of Business[/caption]
Thankfully there are short courses designed for seasoned professionals like you to get you acclimated to financial math and why it matters. Colleges and universities across the country like the University of Denver host workshops that educate professionals on matters outside of their expertise without being overwhelming.
After these courses, you may find yourself basing your managerial decisions on figures along with your team’s creative calendar. You'll be able to tell if your department is falling in line with your set budget. You might even find yourself calculating your company's quick ratios just for fun.
All knowledge is useful, particularly when it's outside of your skill set. You may be inspired to explore other options in your position and take on projects that generate a larger return on investment or diversify your department's funds.
To learn more about how non-financial managers can learn the ins and outs of finance,
click here to see if this program is right for you.
