Finance For Non-Finance Managers

A comprehensive understanding of the key concepts of business finance for non-financial managers makes their decision making effective and gets them closer to their ultimate goals and objectives.

Executives and directors of a company must interact with their crucial finance employees regularly. The interaction helps in understanding what your company’s financial profit and loss accounts are telling about the financial situation of the company and its performance.

Learning finance for non-finance managers develops their ability to manage the daily financial aspects of an organisation effectively. Furthermore, it can help them understand various financial reports in detail and make critical business decisions effectively.

This five days course is designed to help managers understand how the decisions they make will affect the financial performance of their organization. The materials and activities are designed to help you demystify the jargon of finance and to understand and use a range of different financial techniques to improve your abilities as a manager.

You will look at the different financial reporting statements and financial measures to improve performance. You will learn about different mechanisms of costing and financial methods such as budgeting to assist in planning and controlling performance.

Throughout this course, you will be asked to relate your studies to your own work context. It will also give you an understanding of the language used by accountants and how financial statements fit together.

It will explain, in a practical way, the financial statements of an organization and how to read and understand them plus basic accounting concepts such as depreciation, cost behaviour, cash flow, working capital, and budgeting.

Objectives:

By the end of this Finance for Non-Finance Managers Course you will be able to:

• Explain the purpose of the three key financial statements ‘Income Statement, Statement of Financial Position, and Cash Flow Statement’.
• Define the four key financial statements: balance sheet, income statement, cash flow and changes in owner equity as well as key financial terms such as profit, margins and leverage used in organizations
• Interpret the financial health and condition of a company, division or responsibility centre and use financial information for management and evaluation
• Distinguish between accounting and finance and explain the finance role in running businesses
• Prepare a company’s operating budget and relate it to the organization’s strategic objectives
• Apply capital budgeting techniques and cost-volume-profit analysis to enhance decision making
• Demystify the rules of capital expenditure vs operational expenditure helping you to justify investments to your senior managers and finance team.
• Simply assess the viability of entering new markets or developing new products.