Financial Management for Non-Financial Managers

An In-Class Course

Course Description


Almost every manager or attorney or physician needs a firm understanding on the numbers side of business. This “crash course” in finance equips managers from all backgrounds with the critical skills needed to compete in today’s complex economy and, ultimately, boost their bottom lines.

Without such an understanding, a manager’s ability to make intelligent, economically sound decisions is severely compromised.  To be able to make sound decisions, therefore, requires the manager to understand how financial information is prepared for external users and how to use financial information for managerial decision-making. In addition, for organizations to make investment decisions that may benefit the organization over a long period of time requires a basic understanding of capital expenditure analysis and the cost of acquiring funds to support those investments. Each of these issues will be addressed and analysis techniques presented such that the participant will acquire skills that will make him or her a more effective manager.

This program will help you develop basic financial skills and an understanding of financial reports and the use of financial information in decision making. Specific skills that you will learn include: how business transactions are recorded in the financial records of the organization; how to read and interpret financial reports; how to evaluate projects that provide returns over many time periods (discounted cash flow and capital expenditure analysis); and how an organization calculates its cost of funds (cost of capital) and how this affects firm profitability. Using real-world data, cases and examples from financial statements, experts in accounting, finance and financial decision-making, you will develop an understanding of and appreciation for the importance of financial information in effective decision-making. The goal is to make you more comfortable in using financial information in your decision-making process and enhance your managerial and leadership capabilities.

*Note:  This course has been approved for 30 hours CLE credit.


  • Business Transactions
  • Financial Reports
  • Financial Statement Analysis
  • Evaluating Capital Expenditures
  • Cost of Capital


Career and Industry Outlook

According to Hays Worldwide, one of the largest recruiting and professional staffing organizations in the world, 2015/16 jobs market will be characterized by high demand for skilled professionals who can diagnose time or cost inefficiencies and then offer solutions to improve their department or business’s performance. In the latest Hays Quarterly Report, employers who want to maintain profitability will place high demand for people who can offer effective costs solutions to their operations.

The Bureau of Labor Statistics estimates that the number of job openings for financial managers will grow at an 8.9 percent clip by 2022, which means 47,100 new jobs. In addition, financial management jobs tend to pay well. The median salary for the profession was $112,700 in 2013, with the lowest-paid managers earning less than $61,320 and the highest-paid earning more than $187,199.

The American Management Association states: “what’s trending now is constant change, added responsibilities as a manager and rising expectations of your employer. To stay alive, you have to increase your flexibility, expand your management skills and close skill gaps. You need to become a multidimensional go-to person. In short, you must invest in yourself to develop the required skills.” Further, the AMA states, “financial skills – “the ability to weigh the dollars-and-cents implications of your decisions” – are one of the six skills that will make you indispensable as a manager. 

What you’ll learn:

  • How to read, interpret and analyze financial reports: Balance Sheet, Income Statement & Cash Flow Statement
  • How to use financial analysis to identify opportunities in your organization
  • How to effectively evaluate capital expenditures
  • Understand how an organization creates value


  • You will gain a firm understanding of financial management terminology, concepts and application of analysis techniques
  • You will have greater facility in interacting with the accounting and finance areas within your organization
  • You will have a better understanding of the financial impact of your decisions
  • You will have a greater understanding of and ability to interpret financial statements and reports
  • You will be better able to link your decisions to the financial goals of the organization

Who is this for?

The program is particularly relevant to professionals in the following areas:

  • Law and Legal
  • Management Consulting
  • Brand Management
  • Information Technology
  • Manufacturing
  • Construction
  • Energy & Utilities
  • Healthcare

Note: The course is designed such that participants are not expected to have any prior knowledge of accounting or finance.

Course Schedule
W17 Fin Mgt for Nonfin Mgrs

Program Faculty


Kendall Middaugh II

Director, Institute for Executive Education and Professor of Management Emeritus, School of Business, Wake Forest University. BBA and MBA, George Washington University; PhD, The Ohio State University.

Prior to teaching in the MBA & MA in Management programs at Wake Forest University, Ken taught in the MBA and PhD programs at the University of Virginia and at the undergraduate level at Ohio State University where he won numerous awards for his teaching. His teaching and research interest overlap and include managerial accounting, managerial finance, planning and control systems, and strategy implementation. He was responsible for the development and direction of the first general management program offered in the United States to Soviet enterprise managers. He was the recipient of the first Sara Lee Award for Excellence in Education for his teaching and involvement in the Soviet management program. While completing his PhD studies at Ohio State University, he was recognized by the Ohio House of Representatives for teaching excellence. Ken is the author of a number of articles on management planning and control systems, capital expenditure analysis and telecommunications security. He has also co-authored the Professional Development Institute’s Advanced Capital Budgeting manual for the American Institute of Certified Public Accountants. He has written over 50 cases for use in educational programs. He has been teaching using the case method for almost 20 years and has conducted seminars on its use for a number of professional audiences. He has worked for the accounting firms of Ernst & Young and KPMG Peat Marwick. He has been a consultant to a wide variety of domestic and multinational clients including IBM, Digital Equipment Corporation, Armstrong World Industries, Ernst & Young, Amtrak, U.S. Postal Service, U.S. Civil Service Commission, Sara Lee Corporation, RJ Reynolds Tobacco Company, Wake Forest University Baptist Medical Center and other major corporations. He is a member of the American Accounting Association and the Decision Sciences Institute.


Robert C. Nash

Professor of Finance, Schools of Business, Wake Forest University. BS, The Citadel; MBA, University of South Carolina; PhD, University of Georgia.

Rob has been teaching corporate finance at the School of Business since 1997. Prior to joining Wake Forest, he taught at the University of Baltimore and at the University of Georgia (where he received his PhD degree in 1994). Rob also holds the CCM (Certified Cash Manager) and CMA (Certified Management Accountant) designations. He has taught at executive development programs such as the School of Banking and the Savings & Loan School at the University of Georgia, at the Minority Institute for Executive Education at Wake Forest University, Duke Energy, Lowe’s Companies, BB&T’s Banking School and at the International Business School in Moscow. He has also worked as a consultant and auditor for Deloitte & Touche. Rob’s research focuses on international capital markets and financial contracting. He has published in the Journal of Finance, Journal of Financial Economics, Journal of Banking and Finance, Financial Management, Journal of Corporate Finance, Journal of Financial Services Research, among others.

Program Materials

Course materials other than texts are included in the cost of tuition. Course materials will be distributed in digital format and accessible through Sakai, Wake Forest’s learning management system. Students must have a laptop or tablet computer to access course materials.

Program Prerequisites

Participants must have a minimum of a bachelor’s degree or the equivalent. A TOEFL examination for non-native speakers of English is not required but students are expected to read, write and comprehend English at the graduate level to fully participate in and gain from the program. Any requests for exceptions to these requirements must be made in writing to the program director,

Certificate Eligibility

To receive the Certificate in Financial Management for Non-Financial Managers from Wake Forest University, students must successfully complete all portions of the 6-week course, within the allotted time period.  Participants must work closely with faculty to complete all course requirements within the allotted time frame, including course attendance for a minimum of 5 of the 6 course sessions.

*Note:  This course has been approved for 30 hours CLE credit.

Meeting Location

Wake Forest University Charlotte Center
200 N. College Street, Suite 150
Charlotte, NC  28202

Parking is available in the Wake Forest Charlotte Center parking deck, which is adjacent to the Wake Forest Charlotte Center on 5th Street.  Parking can be validated by bringing your parking pass to class.

Wake Forest University Charlotte Center – Map, directions & parking


The cost of the program is $2,500 and includes most materials (students will need to purchase specific texts and materials at an estimated cost of $75) and is due in full at time of registration. Wake Forest University alumni, faculty, and staff receive a tuition discount.  Certain partner companies also receive a discount.  Please contact Carol Oliff, for more details.

Payment Options

While non-credit professional certificate programs do not qualify for federal financial aid, prospective students should consider the following for tuition payment:

  • Seek employer funding or reimbursement
  • Apply for a private education loan
  • Take advantage of tuition discounts for alums, groups, and select partner organizations

Registration and Payment Form

This certificate is an open enrollment program. Application is not required. Course registration is complete when payment is processed and you receive a confirmation email. In order to register, you will need to render payment. Please begin registration when you are ready to render payment.

Registration deadline is January 13, 2017. 

Cancellation of Certificate Programs

This course is offered contingent upon sufficient enrollment. If a course must be cancelled, all registered students will be notified at least five (5) calendar days before the course’s start date. All registered students will receive a 100% tuition refund. No fees will be charged for cancelled courses.

Refund Policy

Refunds are computed based on the date and time that a student’s request to withdraw is received in writing. Prospective students who withdraw prior to the start of a course will receive a full refund of tuition paid.

For More Information

For more information or to speak with a program advisor, please send an email to or call 704-365-3863,