IVS02
Business Fiscal Literacy
Course Fees: $2,995.00
We offer a 9.6% discount for leadership groups larger than 5 people from any single organization.
We offer a 9.6% discount for leadership groups larger than 5 people from any single organization.
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Eleven Ten Institute’s Business Professional Development Program for Senior Managers, Entrepreneurs, Small Business Owners and their teams (BPD Program).
In British Columbia, small businesses employing 50 people or less comprise 98% of all business and 30% of the province’s gross domestic product. Small and start-up businesses face unique challenges concerning capacity building around human resource management, strategic management, business planning, sound process and healthy financial outcomes. The BPD Program uses a combined relationship and systems-based approach to examine business structures, processes, and functions within an organization and its leadership. Learners, both new entrants to the business world and seasoned professionals, will experience a deep exploration of personal strengths and values as they harness their business acumen to inspire and lead others to innovative business solutions. The goal is to become an effective leader who strategically aligns organizational objectives with individual development so that both roads lead to outstanding performance.
Subject Overview: Business Fiscal Literacy
Term
This business fiscal literacy program begins June 1st 2021. It is limited to 10 participants at any one time and requires a commitment of one evening (three hours) per week over the course of eight weeks (24 hours in total).
Subject Purpose
The overall purpose of this subject is to ensure participants create long-lasting behaviour changes and measurable results by understanding and applying the principles, skills and knowledge of Fiscal Literacy. As participants master business fiscal literacy they improve organizational performance through planning, budget creation, identification of key performance indicators and employee performance alignment and engagement towards meaningful financial goals.
Every organization’s success is determined by the efforts of employees moving towards exhibiting meaningful Key Performance Indicators and the correct leverage of capital to create sustainable cash flow results. This program is designed for employees who are not financial managers but who, when properly empowered with an understanding of how their role impacts the financial performance of an organization, can create a significant impact on the bottom-line results of an organization. Since we all need to understand how our daily, weekly and annual efforts at work apply to the larger purpose and mission of an organization, any employee who wants to contribute to the performance of an organization will benefit from the knowledge and skills found in this program.
Lack of Fiscal Literacy negatively impacts managerial efforts at alignment, focus and achieving strategic goals. Financial literacy is directly affected by the understanding and input from employees who actually create results at the end of the day. A fiscally literate workforce in today’s highly competitive business landscape where every business is trying to outperform their competitors’ makes it extremely important for employees (at all levels) to develop a good understanding of the fundamentals of income sheets, balance sheets, cash flow statements, budgeting, forecasted planning and financial incentives and how that helps them in building and sustaining financial results in the contemporary market while acting in an ethical and socially responsible manner.
Every organization’s success is determined by the efforts of employees moving towards exhibiting meaningful Key Performance Indicators and the correct leverage of capital to create sustainable cash flow results. This program is designed for employees who are not financial managers but who, when properly empowered with an understanding of how their role impacts the financial performance of an organization, can create a significant impact on the bottom-line results of an organization. Since we all need to understand how our daily, weekly and annual efforts at work apply to the larger purpose and mission of an organization, any employee who wants to contribute to the performance of an organization will benefit from the knowledge and skills found in this program.
Lack of Fiscal Literacy negatively impacts managerial efforts at alignment, focus and achieving strategic goals. Financial literacy is directly affected by the understanding and input from employees who actually create results at the end of the day. A fiscally literate workforce in today’s highly competitive business landscape where every business is trying to outperform their competitors’ makes it extremely important for employees (at all levels) to develop a good understanding of the fundamentals of income sheets, balance sheets, cash flow statements, budgeting, forecasted planning and financial incentives and how that helps them in building and sustaining financial results in the contemporary market while acting in an ethical and socially responsible manner.
Subject Summary
Using the following nine (9) modules, this subject is designed to help participants understand and demonstrate skills in creating a sales process, building a pipeline of prospects and moving prospects through all aspects of the sales process (qualifying, decision making, agreement & post sale).
Module 1: Understanding Income Statements
Different organizations have different Income Statement Structures. Going beyond profit and loss statements, this module develops an understanding of key financial topics including prudence, revenue recognition, gross margins, fixed and variable expenses, net margins and profits vs losses.
Module 2: Understanding Balance Sheets
This module builds off Income Statements and leads to an understanding of assets, liabilities, equity, debt, leverage, depreciation and taxation.
Module 3: Understanding Cash Flow
Using both direct and indirect cash flow statements, this module builds from the Balance Sheets module and teaches why cash flow is the most important measure and develops a deep understanding of the levers used to improve cash flow.
Module 4: Forward Planning
Focusing on how strategic planning requires forecasted budgets to be effective, this modules builds understanding around zero base budgeting and introduces the concepts of critical numbers.
Module 5: Key Performance Indicators (KPI)
This module develops understanding around Key Performance Indicators that are linked to both strategic planning and forecasted financial modelling. Participants will understand the role and importance of KPI’s as well as which KPI’s are misaligned.
Module 6: Dashboards & Scorecards
Going beyond KPI’s this module teaches the skills needed for building effective dashboards and scorecards. Participants will be able to link performance on financial statements to under or overperformance on dashboards.
Module 7: Performance Incentives & Bonuses
This module teaches what is needed and how to create performance bonuses that are aligned with the organization’s financial performance. It focuses on the common mistakes in entitlement programs versus incentives that generate superior performance.
Module 8: Employee Share Option Programs (ESOP)
Showing why having a stake in the game matters, this module explores what is involved and how to overcome barriers to implementation.
Module 9: Financial Communication Strategies
This module teaches what information should be communicated to different stakeholders and how to protect confidential financial information.
Subject Learning Outcomes
Upon successful completion of this subject, participants will be able to:
Read and understand financial statements including income statements, balance sheets and cash flow statements.
Contribute meaningfully to strategic planning discussions.
Contribute meaningfully to forecasted performance budgets.
Focus efforts on meaningful Key Performance Indicators and contribute towards an increase in organizational productivity by an average of 12.5% and an increase in free cash flow by an average of 8.7%.
Help solve key organizational problems through applying forecasting and scorecard techniques.
Protect data integrity and keep confidential information from being released to unauthorized stakeholders.
Certification Qualifications
Each participant will receive a Certificate of Completion from The Black Sheep Institute for mastering fiscal literacy. This Certificate of Completion represents 20% of the BPD Program completion.
Summary of Assessment Tasks
The evaluation criteria used for this course are represented below. Specific course evaluation information will be provided by the instructor at the start of the course.
Criterion % of Final Grade (may be represented as a range):
Criterion % of Final Grade (may be represented as a range):
40% - Course work (activities, assignments, essays, reports, etc.)
20% - Quizzes and exams
40% - Simulations/Lab Attendance/Participation (in class or online)
100% - Total
Instruction
Hanif Muljiani
Hanif Muljiani holds a Chartered Accountant (CA) designation having completed his formal training through KPMG. Hanif has success in buying, building and exiting businesses.
Tara Dobbs
Tara Dobbs is an experienced entrepreneur and is in demand for her expertise in building high performing, strengths-based workplace cultures. Tara left her successful career in the financial services industry in order to help her father run his disaster restoration business while he battled liver cancer. Tara took over and successfully ran the multi-million dollar business for eight years after her dad passed away before winding it down due to changes in the insurance industry. While working as a corporate recruiter Tara discovered the impact positive psychology was having on businesses and individuals and decided to change careers and obtain the necessary credentials. Tara then began partnering with individuals and organizations seeking to create high-performing cultures based on the Gallup CliftonStrengths platform. Tara is a Sandler Solutions trained professional.
Tara holds a B.A. from the University Of British Columbia and is a former member of the Entrepreneurs Organization (EO). She holds certifications from the Gallup Organization as a Certified Strength Coach and is a CoreClarity facilitator. Tara and her team at the Eleven Ten Training Institute work with select leaders and clients in Canada, USA, Singapore, Mexico, South Africa, Australia, UK and India.
Tara holds a B.A. from the University Of British Columbia and is a former member of the Entrepreneurs Organization (EO). She holds certifications from the Gallup Organization as a Certified Strength Coach and is a CoreClarity facilitator. Tara and her team at the Eleven Ten Training Institute work with select leaders and clients in Canada, USA, Singapore, Mexico, South Africa, Australia, UK and India.
Peter Holgate
Peter J. Holgate is a well-rounded business leader, having created more than $200M in enterprise value in starting and building 6 businesses over the past 25 years. Peter’s leadership and passion in the circular economy has garnered attention from industry organizations and government, earning respected awards for Ronin8. Peter is a global thought leader, and in addition to having his insightful articles featured in leading publications such as World Economic Forum, Recode, Financial Post and Wired he has also authored two published books: Strategy Hack: 3 Steps to Build a Successful Strategy (2011) and I’m Great (and You’re Not): How an Olympian Taught me to Play Well with Others (2019).
Peter holds a Masters in Business Administration (M.B.A.) degree from Simon Fraser University with a focus on business strategy. Peter successfully completed the Harvard Business School Strategic Negotiations: Dealmaking for the Long Term Program. Peter plays an active role in the local business community including his service as Learning Chair, Finance Chair and President-Elect for the Entrepreneurs Organization (EO). Peter serves on the board of the Vancouver Entrepreneurs Forum (VEF), is a mentor with the New Ventures BC (NVBC) program and is a mentor with the YELL youth program in the province. Peter is a Sandler Solutions trained Sales Professional and continues to receive ongoing Sales Coaching to improve his real-world performance.
Peter holds a Masters in Business Administration (M.B.A.) degree from Simon Fraser University with a focus on business strategy. Peter successfully completed the Harvard Business School Strategic Negotiations: Dealmaking for the Long Term Program. Peter plays an active role in the local business community including his service as Learning Chair, Finance Chair and President-Elect for the Entrepreneurs Organization (EO). Peter serves on the board of the Vancouver Entrepreneurs Forum (VEF), is a mentor with the New Ventures BC (NVBC) program and is a mentor with the YELL youth program in the province. Peter is a Sandler Solutions trained Sales Professional and continues to receive ongoing Sales Coaching to improve his real-world performance.
Prerequisites
English proficiency level
Graduation from Secondary School
Minimum 3 years' work experience
Growth Mindset