Finance For Non-financial Managers

Manage the Finances of a Unit

Based on Unit Standard ID252040, NQF level 5

Finance Training Outline:

• Demonstrating an Understanding of the Key Concepts of Managerial Finance. 
  • The accounting cycle is explained by means of a diagram. 
  • The role of budgeting and forecasting in the strategic planning process is explained with reference to the manager’s specific organisational context. 
  • The accounting conventions applied in the financial management of a unit are explained with examples. 
  • The financial reports published by the manager’s entity are explained with examples.
• Interpret Financial Statements. 
  • Financial statements are analysed, using data sources identified and evaluated for authenticity and accuracy. 
  • The ratios are applied to measure the profitability and liquidity of an entity
  • The ratios are applied to measure the working capital and asset utilisation of an entity. 
  • The ratios are applied to measure the return of an entity. 
  • Recommendations are made regarding the profitability of, liquidity, working capital, return, and resource utilisation by the entity using the results obtained from the application of the ratios.
• Describe and Prepare Financial Forecasts. 
  • The types and formats of financial forecasts are identified with examples.
  • Sources of financial forecasts are identified as per the entity’s standard practice. 
  • Factors in preparing financial forecasts are outlined in line with entity’s standard operating procedures. 
  • Relevant factors are incorporated in the preparation of financial forecasts. 
  • Financial forecasts are analysed to determine viability against the entity’s requirements.
  • Draft Budgets According to the Operational Plan of the Unit.
• Budget plans are linked to operational objectives. 
  • Operational objectives are established in line with the unit’s strategic plan. 
  • The budget is formulated according to standard operating procedures. 
  • Drafted budget is reviewed, reflected on and modified to ensure alignment to the operational plan of the unit.
  • Supervise Financial Management of A Unit against Given Requirements. 
• Monitoring systems are agreed and adhered to, according to standard operating procedures. 
  • Expenditure reports are monitored for the year for each team within the unit against given criteria.
  • Corrective actions are implemented where necessary in accordance with the entity’s policies and procedures.

Finance Training Course Outcomes:

• Identify and solve problems through making recommendations to address discrepancies. 
• Work effectively with others when gathering information for financial ratio analysis. 
• Organise and manage oneself and one`s activities when calculating ratios and reporting findings. 
• Collect, evaluate, organise and critically evaluate information when monitoring expenditure against budget. 
• Communicate effectively with stakeholders in written reports. 
• Use science and technology formulating a capital budget. 
• Demonstrate an understanding of the world as a set of related systems showing how the results of the unit impact on the whole entity. 

Includes:

• Comprehensive manual
• Framed certificate of attendance
• Notepad & Pen
• Superior training venue with delicious lunch, teas and refreshments