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Finance for Non-Financial Managers

Financial skills have become an increasingly essential element of personal development for professionals in all disciplines. Whether in the recognition and understanding of organisational performance or in the interpretation of the actions of others. A grasp of the fundementals of finance will enable a confident and effective approach to these and other areas of corporate activity.

Course Aim

To give non-financial managers a knowledge of financial techniques and their role in an organisation that they can immediately apply in their workplace.

Course Objectives

By the end of this course, participants will be able to:

  • Understand and use the appropriate financial concepts in their decision making
  • Interpret the meaning of Profit and Loss Accounts, Balance Sheets and Cash Flow Statements
  • Manage the financial content of their job more effectively
  • Understand key concepts of financial planning and performance
  • Show greater confidence in the language of finance and financial concepts
  • Communicate more effectively with financial executives and staff
  • Gain recognisable certification of competence in completion of the course

Relevance of Finance in organisations

Figure 1 shows the data and information flows in a typical organisation where the application of finance skills plays an essential and major role in the company’s decision making emphasising the importance of this course for all professionals.

Figure 1

Course Content

Financial Statements

  • The Objective of Financial Statements
  • Basic accounting concepts
  • Get under the bonnet and see and understand how a profit and loss account and balance sheet is prepared – you will prepare one too!!

Profit and Loss Account

  • The definition and importance of profit.
  • The structure of the Profit & Loss Account
  • How to read a Profit & Loss Account

Balance Sheet

  • Content and layout of balance sheets
  • Managing Working Capital
  • Depreciation of Fixed Assets.

Cash Flow

  • The difference between profit and cash
  • Cash Flow forecasting.

Interpreting Accounts

  • Analysing profit and loss accounts and balance sheets
  • What are the accounts telling you?
  • What actions need to be taken?

Cost Control and Growth

  • Cost, Volume and Price
  • The importance of Breakeven
  • The importance of cost control
  • Determining a selling price

Debt and Equity

  • Key sources of financing a business
  • How to calculate the debt to equity ratio
  • Getting the balance right

Ratio analysis

  • Commonly used ratios

Capital appraisal

  • Determining which projects to invest in and which to dismiss as unacceptable
  • Managing risk

Financial Planning and Budgeting

  • Introduction to Financial Planning
  • Why Plan?
  • What is a budget?
  • What should we measure?
  • The business planning process

Creating the Financial Budget

  • Understanding the benefit of budgeting to an organisation
  • Budgets' forms and purposes; the master budget
  • The different types of budgets - fixed, flexible, zero based, & ABB
  • Preparing, coordinating and monitoring a budget
  • Should we budget for customer satisfaction?

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