Course Overview
To be a successful supervisor/manager in the wood products industry, it is important to understand how a business records its activities and how it processes and communicates these records in a way that is useful for decision making. Without a solid understanding of accounting and finance, it can be difficult to approve and launch new initiatives, justify purchasing new equipment or hiring new staff, or determine the optimal strategy for a business or any particular division within a business. In this course, students focus on accounting and finance and learn what is often referred to as the, language of business.
Prerequisite(s)
- 50% in ECON 1610
Credits
3.0
- Not offered this term
- This course is not offered this term. Notify me to receive email notifications when the course opens for registration next term.
Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Demonstrate a working knowledge of financial concepts as they apply in the management of the wood products industry, including: profit & loss statements, cash flow, operational efficiency, and effectiveness;
- Demonstrate an understanding of the connection between operations and financial performance;
- Explain the importance of forecasting and forecasting accuracy and how that is connected to the short and mid-term organizational decision making;
- Recognize their role in the financial performance of the organization (as a manager, superintendent, planner, etc.).
Effective as of Fall 2020
Related Programs
Finance Fundamentals for Sawmill Managers (FMGT 1660) is offered as a part of the following programs:
School of Construction and the Environment
- Business of Sawmilling
Associate Certificate Part-time
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