Finance for Non-Finance Managers
Course Code: MPDFNFM
Duration: 1 Day
Overview
This course is available on public schedule, closed company on/off site or 1-2-1.
The aim of this one-day course is to provide managers with awareness and basic understanding of the way finance affects their business objectives. This course is designed for busy managers and those professionals who are responsible for financial matters without necessarily having a job title or qualifications to match.
The content is delivered in an easy-to-understand way, speaking your language and enabling you to understand the financial way of seeing things.
During the day you will learn to read the accounts, understand the terminology, be able to influence and control your key financial measurements, targets and budgets - all from an operational management perspective. The programme enables to you gain confidence in developing financial negotiations, participate in meetings where the ‘finances' are being discussed, build you own budgets, monitor your budgets and take a more active role in the financial aspects of the organisation.
Prerequisites
Managers who need to know more about finance to improve their planning, costing and budgeting skills.
The course is suitable for those in both the private and public sectors from small and medium sized enterprises to multinational corporations. It is designed for all those who are affected by the ‘finances' at work. It enables you to go back to your workplace and have a greater ability to ‘read the figures'. You will be given the tools to discuss financial aspects.
You will share the day with others who have a similar level of understanding as you and the programme will be delivered in a very open and interactive format. You will also need to bring a calculator so that you can work out some of the key measurements and financial ratios during the day.
Delegates will learn how to
- An understanding of the difference between the business managers role versus the role of the accountant
- Knowledge of profit/loss, balance sheets and cash flow
- Competence in planning, monitoring and controlling a budget
Course Outline
- Understanding The Role of ‘Finance’ (The roles of the Finance Department and the non-finance manager; basic financial implications)
- Financial Terminology De-mystified (Translating into plain English - what do they mean?)
- Understanding the Financial Reports (Assets, liabilities, income and expenditure; The Profit & Loss account; the Balance Sheet; the Cash Flow Statement; cash and profit)
- Key Financial Ratios (Profitability; Return on Capital; Capital Turnover; Working Capital; Current Ratios; Debtors Ratio; Business Trends)
- Finance in the Business (The business cycle, planning, target setting, measurements. The importance of the year-end activities: accruals and reserves. The importance of Expense Control)
- Budgeting, Costing & Planning (Planning a budget. Monitoring and controlling a budget. Plans against actual. Variance analysis)
- Costing and Pricing (Methodologies, break-even points)
- Summary & Action Plans Agreed