In this course you'll learn how to get business loans, how to reduce their costs, and how to account for them.
Business loans are a vital source of funding for cash flow management. The course begins with ratio analysis and cash flow projections to determine whether loan funding is needed. I then explain how leverage (the use of borrowed funds) magnifies returns but increases risk.
We’ll then explore key loan components like different ways interest is calculated, types of fees, and the multiple terms that can be structured into a loan. Basic accounting entries and financial statement presentation, including footnote disclosure, are explained.
You’ll discover ways to reduce the interest rate on your loan. I’ll give an overview of the application process and the documents lenders frequently request.
The course explains the factors and ratios banks used to decide whether to approve a loan. Key documents that are signed at loan closing are described, and the importance of each is explained. I’ll point out important clauses included in these documents.
The author has 20 years of banking experience, including being the CFO of two banks, sitting on loan committees, and having a collections department report to him. He provides insights into how banks operate, key terms borrowers miss, and tips to protect you or your client’s business.
Field of Study: Finance
Founder of CFO Perspective
Rob Stephens is the Founder of CFO Perspective, which provides continuing education courses for CPAs and financial management courses for business advisors and staff. He has been quoted in Forbes, U.S. News and World Report, Bloomberg Businessweek, and many other news sources. He is also the author of Key Performance Indicators and KPI Dashboards. Rob has a 30-year career that includes serving as a CFO, Director of Operations, and SVP of Finance. Rob is an adjunct instructor for the MBA program at Gonzaga University. Rob holds a Masters of Science in Personal Financial Planning and a Graduate Certificate in Financial Therapy from Kansas State University. He received a B.A. in Business Administration from the University of Washington.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
