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Managing Assets
Learn how to utilize your organization's resources effectively.Preview the first lesson free — get full access to all 49 lessons.
Essential Provider : Ronald Hough 8 chapters · 49 Lessons · 2h 14m in Arabic, English
Course Description
Assets are the economic resources for any organization. Liquid assets, such as cash and inventory, are especially essential to an organization's ability to operate. This course teaches how to properly establish, implement, and monitor asset accounts, to ensure that the organization's assets will be managed securely and effectively.
What You'll Learn
- Establish, implement, and monitor asset accounts to manage organizational assets securely and effectively
- Apply internal control systems and techniques to control cash and analyze financial liquidity
- Perform inventory control using ABC analysis, EOQ calculations, and days of inventory on hand
- Manage accounts receivable using days sales outstanding and receivables collection efficiency measures
- Conduct cost-volume-profit (CVP) analysis to determine contribution margin, break-even points, and target profits
Key Takeaways
- Assets are the economic resources of an organization, and liquid assets such as cash and inventory are essential to its ability to operate.
- Properly establishing, implementing, and monitoring asset accounts helps ensure assets are managed securely and effectively.
- Internal control systems and cash control techniques support effective management of liquid assets.
- Inventory management techniques include ABC analysis, calculating the economic order quantity (EOQ), and tracking days of inventory on hand.
- CVP analysis is used to compute contribution margin, break-even points, and the unit sales needed to reach a target profit.
Frequently Asked Questions
What does this course cover?
The course teaches how to properly establish, implement, and monitor asset accounts to ensure an organization's assets are managed securely and effectively. It covers internal controls and cash control techniques, financial liquidity analysis, inventory control (including ABC analysis, EOQ, and days of inventory on hand), managing accounts receivable, and cost-volume-profit (CVP) analysis.
Why is managing assets important for an organization?
Assets are the economic resources for any organization, and liquid assets such as cash and inventory are especially essential to an organization's ability to operate.
What skills will I gain from this course?
The course develops skills in asset classes, asset management, asset tracking, fixed assets management, and liquidity management, and includes an Asset Management Certification.
What inventory management techniques are taught?
The course covers inventory control and reduction techniques, performing ABC analysis and categorizing inventory based on ABC, calculating and determining the economic order quantity (EOQ), and understanding days of inventory on hand and its effects.
Does the course cover break-even and profitability analysis?
Yes. Through CVP analysis, the course covers comparing sales activity, contribution margin, and net income, the contribution margin ratio, computing a break-even point, and computing the unit sales needed to reach a target profit.
