Board Members Financial Acumen Program

About Course

The Board Members Financial Acumen Program is a specialized executive training designed to enhance the financial literacy and strategic financial oversight skills of board members. As organizations face increasingly complex financial environments, it is crucial that board members possess the ability to navigate financial statements, assess risks, and make informed decisions that ensure organizational sustainability and compliance. This course offers a comprehensive overview of financial principles, with a focus on the key responsibilities of the board in overseeing financial governance, risk management, and strategic financial planning. Participants will develop a strong foundation in financial reporting, budgeting, forecasting, and performance evaluation, all while understanding their fiduciary duties and the role they play in safeguarding the financial integrity of the organization.
Throughout the program, board members will gain the practical skills necessary to assess the organization’s financial health and engage effectively in discussions regarding financial strategy. Key outcomes include the ability to interpret complex financial reports, assess key performance indicators (KPIs), make informed decisions about capital allocation, and ensure regulatory compliance. By the
end of the program, participants will be equipped to contribute meaningfully to board meetings, provide strategic oversight on financial matters, and strengthen the organization’s long-term financial sustainability. This course combines theoretical knowledge with real-world applications, using case studies and interactive exercises to deepen participants’ understanding and engagement.

Comprehensive understanding of financial statements and key financial metrics.
 Practical skills in budgeting, forecasting, and financial performance evaluation.
 Enhanced ability to oversee financial risk management and ensure regulatory compliance.
 Confidence in making informed, strategic decisions related to capital allocation, investments, and organizational growth.
 Ability to engage effectively with management and external auditors to ensure transparency and accountability

Course Content

Module 1: Introduction to Financial Acumen for Board Members
Unit 1.1: The Role of the Board in Financial Oversight  Unit 1.2: Key Financial Statements: Balance Sheet, Income Statement, Cash Flow  Unit 1.3: Understanding Financial Ratios and Metrics  Unit 1.4: The Board’s Fiduciary Duty in Financial Oversight  Unit 1.5: The Importance of Financial Literacy for Effective Governance

Unit 1.1: The Role of the Board in Financial Oversight
Unit 1.2: Key Financial Statements: Balance Sheet, Income Statement, Cash Flow
Unit 1.3: Understanding Financial Ratios and Metrics
Unit 1.4: The Board’s Fiduciary Duty in Financial Oversight
Unit 1.5: The Importance of Financial Literacy for Effective Governance

Module 2: Reading and Interpreting Financial Statements
BOARD AND SENIOR MANAGEMENT COURSES State of Delaware: SR20244374469 FN: 10024923 Course Title: Board Members Financial Acumen Program The Board Members Financial Acumen Program is a specialized executive training designed to enhance the financial literacy and strategic financial oversight skills of board members. As organizations face increasingly complex financial environments, it is crucial that board members possess the ability to navigate financial statements, assess risks, and make informed decisions that ensure organizational sustainability and compliance. This course offers a comprehensive overview of financial principles, with a focus on the key responsibilities of the board in overseeing financial governance, risk management, and strategic financial planning. Participants will develop a strong foundation in financial reporting, budgeting, forecasting, and performance evaluation, all while understanding their fiduciary duties and the role they play in safeguarding the financial integrity of the organization. Throughout the program, board members will gain the practical skills necessary to assess the organization’s financial health and engage effectively in discussions regarding financial strategy. Key outcomes include the ability to interpret complex financial reports, assess key performance indicators (KPIs), make informed decisions about capital allocation, and ensure regulatory compliance. By the end of the program, participants will be equipped to contribute meaningfully to board meetings, provide strategic oversight on financial matters, and strengthen the organization’s long-term financial sustainability. This course combines theoretical knowledge with real-world applications, using case studies and interactive exercises to deepen participants' understanding and engagement. Target Audience: This program is tailored for current and prospective board members, senior executives, audit committee members, and other key decision-makers involved in financial oversight at the board level. It is ideal for individuals seeking to enhance their understanding of financial governance, strengthen their ability to assess financial performance, and improve their strategic decision-making in relation to financial matters. Modules & Units: Module 1: Introduction to Financial Acumen for Board Members  Unit 1.1: The Role of the Board in Financial Oversight  Unit 1.2: Key Financial Statements: Balance Sheet, Income Statement, Cash Flow  Unit 1.3: Understanding Financial Ratios and Metrics  Unit 1.4: The Board’s Fiduciary Duty in Financial Oversight  Unit 1.5: The Importance of Financial Literacy for Effective Governance Module 2: Reading and Interpreting Financial Statements  Unit 2.1: Income Statement Analysis  Unit 2.2: Balance Sheet: Assessing Financial Health  Unit 2.3: Cash Flow Statement and Liquidity Assessment  Unit 2.4: Key Performance Indicators (KPIs) and What They Reveal  Unit 2.5: Integrating Financial Statements into Strategic Decision Making

Module 3: Budgeting and Forecasting for Board Members
Unit 3.1: The Budgeting Process: Overview and Key Principles  Unit 3.2: Financial Projections and Revenue Forecasting Unit 3.3: Variance Analysis: Understanding Budget vs. Actual  Unit 3.4: The Role of the Board in Approving and Monitoring Budgets  Unit 3.5: Forecasting Techniques for Financial Planning

Module 4: Risk Management in Financial Oversight
Unit 4.1: Identifying and Managing Financial Risks  Unit 4.2: Evaluating Operational, Financial, and Market Risks  Unit 4.3: The Role of the Audit Committee in Risk Management  Unit 4.4: Mitigating Risks Through Internal Controls and Policies  Unit 4.5: Regulatory Risks and Compliance Considerations

Module 5: Capital Allocation and Investment Decision-Making
Unit 5.1: Principles of Capital Allocation  Unit 5.2: Evaluating Investment Opportunities: ROI and Payback Period  Unit 5.3: Risk/Return Trade-Offs in Capital Decisions  Unit 5.4: Debt vs. Equity Financing Decisions  Unit 5.5: The Board’s Role in Major Investment Decisions

Module 6: Corporate Governance and Financial Oversight
Unit 6.1: The Governance Framework for Financial Oversight  Unit 6.2: Ensuring Financial Transparency and Accountability  Unit 6.3: The Role of Audit Committees and External Auditors  Unit 6.4: Ethical Considerations in Financial Governance  Unit 6.5: Building Trust with Stakeholders through Financial Integrity

Module 7: Evaluating Financial Performance and Strategic Planning
Unit 7.1: Key Performance Indicators (KPIs) for Monitoring Financial Health  Unit 7.2: Financial Benchmarks and Industry Comparisons  Unit 7.3: Evaluating Profitability, Liquidity, and Solvency  Unit 7.4: Financial Modeling for Strategic Planning  Unit 7.5: Linking Financial Performance to Strategic Goals

Module 8: Regulatory Compliance and Financial Reporting Standards
Unit 8.1: Understanding IFRS, GAAP, and Other Reporting Standards  Unit 8.2: Compliance Obligations for Public and Private Companies  Unit 8.3: Financial Reporting Requirements for Nonprofits  Unit 8.4: The Role of the Board in Ensuring Compliance  Unit 8.5: Managing Regulatory and Audit Risks

Module 9: Strategic Financial Leadership
Unit 9.1: Financial Leadership and Decision-Making for Board Members  Unit 9.2: Leading in Times of Financial Crisis and Uncertainty  Unit 9.3: Strategic Planning and Capital Structure Optimization  Unit 9.4: Mergers, Acquisitions, and Financial Integration  Unit 9.5: The Board’s Role in Shaping Long-Term Financial Strategy

Module 10: Leading Effective Financial Discussions in Board Me
Unit 10.1: Leading Financial Discussions at the Board Level  Unit 10.2: Communicating Financial Information to Non-Financial Board Members  Unit 10.3: Engaging with Management on Financial Performance  Unit 10.4: Building Consensus Around Financial Strategy  Unit 10.5: Best Practices for Effective Financial Oversight in Board Meetings

Board Members Financial Acumen Program

About Course

What Will You Learn?

Course Content

Unit 1.1: The Role of the Board in Financial Oversight

Unit 1.2: Key Financial Statements: Balance Sheet, Income Statement, Cash Flow

Unit 1.3: Understanding Financial Ratios and Metrics

Unit 1.4: The Board’s Fiduciary Duty in Financial Oversight

Unit 1.5: The Importance of Financial Literacy for Effective Governance

Unit 2.1: Income Statement Analysis

Unit 2.2: Balance Sheet: Assessing Financial Health

Unit 2.3: Cash Flow Statement and Liquidity Assessment

Unit 2.4: Key Performance Indicators (KPIs) and What They Reveal

Unit 2.5: Integrating Financial Statements into Strategic Decision Making

Unit 3.1: The Budgeting Process: Overview and Key Principles

Unit 3.2: Financial Projections and Revenue Forecasting

Unit 3.3: Variance Analysis: Understanding Budget vs. Actual

Unit 3.4: The Role of the Board in Approving and Monitoring Budgets

Unit 3.5: Forecasting Techniques for Financial Planning

Unit 4.1: Identifying and Managing Financial Risks

Unit 4.2: Evaluating Operational, Financial, and Market Risks

Unit 4.3: The Role of the Audit Committee in Risk Management

Unit 4.4: Mitigating Risks Through Internal Controls and Policies

Unit 4.5: Regulatory Risks and Compliance Considerations

Unit 5.1: Principles of Capital Allocation

Unit 5.2: Evaluating Investment Opportunities: ROI and Payback Period

Unit 5.3: Risk/Return Trade-Offs in Capital Decisions

Unit 5.4: Debt vs. Equity Financing Decisions

Unit 5.5: The Board’s Role in Major Investment Decisions

Unit 6.1: The Governance Framework for Financial Oversight

Unit 6.2: Ensuring Financial Transparency and Accountability

Unit 6.3: The Role of Audit Committees and External Auditors

Unit 6.4: Ethical Considerations in Financial Governance

Unit 6.5: Building Trust with Stakeholders through Financial Integrity

Unit 7.1: Key Performance Indicators (KPIs) for Monitoring Financial Health

Unit 7.2: Financial Benchmarks and Industry Comparisons

Unit 7.3: Evaluating Profitability, Liquidity, and Solvency

Unit 7.4: Financial Modeling for Strategic Planning

Unit 7.5: Linking Financial Performance to Strategic Goals

Unit 8.1: Understanding IFRS, GAAP, and Other Reporting Standards

Unit 8.2: Compliance Obligations for Public and Private Companies

Unit 8.3: Financial Reporting Requirements for Nonprofits

Unit 8.4: The Role of the Board in Ensuring Compliance

Unit 8.5: Managing Regulatory and Audit Risks

Unit 9.1: Financial Leadership and Decision-Making for Board Members

Unit 9.2: Leading in Times of Financial Crisis and Uncertainty

Unit 9.3: Strategic Planning and Capital Structure Optimization

Unit 9.4: Mergers, Acquisitions, and Financial Integration

Unit 9.5: The Board’s Role in Shaping Long-Term Financial Strategy

Unit 10.1: Leading Financial Discussions at the Board Level

Unit 10.2: Communicating Financial Information to Non-Financial Board Members

Unit 10.3: Engaging with Management on Financial Performance

Unit 10.4: Building Consensus Around Financial Strategy

Unit 10.5: Best Practices for Effective Financial Oversight in Board Meetings