Programs & Courses

Debt and Cash Flow Management

Bookkeeping and Accounting, Investment & Retirement, Succession & Estate Planning

By: Marcia Elaschuk

PROGRAM: DFA-Bookkeeping Services Specialist™, MFA-Retirement and Estate Services Specialist™

Debt is the number one financial issue in Canada today.  This course will help students to advise their clients on what debt is and how to use it properly; enhance their ability to manage debt and cash flow to accumulate wealth for the future.

WHY IS THIS COURSE TIMELY?

It is most important to understand what terminal debt is and how to reduce it over a lifetime as early as possible. The Debt to disposable income ratio in Canada was 167.5% at the end of the second quarter in 2016 which is the highest of the G7 countries.

CONTENT DESCRIPTION AND KEY CONCEPTS:

This course is the perfect course for professionals in financial services to gain the skills needed to proactively help their clients plan for and manage their financial health by reporting on improvements in debt and savings over time. The focus is on a healthy balance sheet and responsible use of debt in building family wealth.

CERTIFIED SKILLSETS:

  • Advisors can help clients by doing a formal financial assessment at least annually.
  • Families will better understand the effect of debt on their cash flow and ultimately their ability to accumulate wealth for the future by understanding their debt. 
  • Advisors will be able to help clients determine what is affordable, how much is affordable and what to do when it’s unaffordable: define an order of debt reduction.
  • The debt to asset ratio, debt to disposable income ratio and debt to equity ratio will be demonstrated. 
  • What is good debt and bad debt and how to consolidate debt effectively will be a deliverable in planning.

Using online demonstrations linked to the topics in each chapter, the participant will learn how to use various powerful, professional calculators to establish a savings strategy, as well as a debt management strategy. Most important, how to pay down debt and in what order, what types of debt are necessary to accelerate the building of wealth and how to manage cash flow for upcoming life events is also taught.

KNOWLEDGE BUREAU TOOLS INCLUDED:

MARKS ALLOCATION:

Quizzes 50%
Case Studies 25%
Final Exam 25%
Passing Grade 60%
Honours Achievement 90%

 


CE Credits

CE Credits
Knowledge Bureau 30 CPE credits
IPBC 30 CE credits
PBA 30 CPE credits

Table of Contents

Chapter 1:
The Effect of Debt on Wealth Management
Chapter 2:
Financial Assessment: Data Collection for Debt and Cash Flow Analysis
Chapter 3:
Better Credit Scores: Prerequisites for Successful Borrowing
Chapter 4:
Mortgages: A Better Mortgage Reduction Plan
Chapter 5:
Managing Consumer Debt
Chapter 6:
Vehicle Loans & Leasing
Chapter 7:
Managing Fixed and Variable Expenditures
Chapter 8:
Managing Debt Through Late Life Milestones
Chapter 9:
Presenting Debt Reduction Solutions for Younger Families
Chapter 10:
Business Debt

What Graduates Say

My favorite course so far! Excellent and incredibly useful information valuable not only to advisors but to the people they advise. Anyone with a mortgage or planning on getting one should take this course. Liam P., SK
As a professional bookkeeper for small businesses, I took this course because I wanted to include debt management in my business service portfolio. A lot of small businesses are really just self-employed individuals with their business start-up funds coming from personal loans and credit. The course provided a lot of knowledge on various types of personal debt, how to categorize and group monthly expenses and payments, and the various products available for dealing with debt unification. In addition, the course provides access to tools for calculating repayment schedules and interest. A good course for anyone dealing with personal finances. Melissa L., BC