The University of the Aftermarket hosted 32 mid-career aftermarket professionals at the Sloan Family Building for Aftermarket Studies on Northwood University’s Michigan campus for a two-day, aftermarket-focused finance and accounting seminar.
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The program, which concluded on Nov. 14, 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.
Participants left the course with a firm understanding of finance and accounting concepts, as well as their practical application in a variety of aftermarket business environments. 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,” said University of the Aftermarket Director Brian Cruickshank. “The discussions in class were insightful, real-world based and I am confident that participants learned a lot.”
The University of the Aftermarket plans to make this an annual event and is also planning a more basic finance and accounting seminar in the spring for those with no previous exposure to financial and accounting concepts.
The seminar awarded each participant 1.2 Continuing Education Units toward their Automotive Aftermarket Professional (AAP) or Master Automotive Aftermarket Professional (MAAP) designation.
For detailed course descriptions and to register for an upcoming course, visit the “Course Calendar” page at www.universityoftheaftermarket.com or call 1-800-551-2882.
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