According to Northwood, the program was specifically designed for aftermarket professionals who were interested in improving their understanding of financial and accounting concepts in an aftermarket framework. The course covered basic financial statements (balance sheet, income and cash flow statements), managerial accounting, budgeting, reading quarterly/annual statements, understanding financial concepts and their practical application, case studies, as well as the use of different types of financial resources, Northwood says.
Participants left the course with an understanding of finance and accounting concepts, as well as their practical application in a variety of aftermarket business environments. Northwood says participants represented distribution and manufacturing on both the light-vehicle and heavy-duty sides of the aftermarket.
“This was the first seminar of its kind for the University of the Aftermarket and the level of participation proved that this is a much-needed program,” says Brian Cruickshank, University of the Aftermarket director. “The discussions in class were insightful, real-world based and I am confident that participants learned a lot.”
The University of the Aftermarket says it plans to make this an annual event, and also is planning a more basic finance and accounting seminar in the spring for those with no previous exposure to financial and accounting concepts.
For detailed course descriptions and to register for an upcoming course, please visit the “Course Calendar” page at www.universityoftheaftermarket.com, or call 1-800-551-2882.
