Finance for Non-Financial Managers
Course duration – 1 day
“Take the fear out of Finance!”
Business scenario
Whilst organisations increasingly require managers to be specialists in their field, they often also need those managers to have competence in non-specialist areas in order to fulfil their responsibilities. This includes a grasp of basic financial awareness in order to agree and manage budgets effectively and appreciate core financial principles.
Who will benefit?
Those who need to understand the financial implications of their day-to-day decisions to increase the profitability and performance of their business. This course is suitable for managers with little or no financial knowledge
Course objectives
By the end of the course you will be able to:
- Have an awareness of the financial skills needed by all managers
- Understand key information from a balance sheet
- Interpret financial information
- Recognise the importance of liquidity for the organisation
- Appreciate the value of planning and budgeting
Course content
The purpose of accounting
Understanding how accounts are used
Recognising the basic framework for accounting
Basic concepts in finance
Managing money
Asking yourself the three prime accounting questions
Analysing and interpreting published accounts
The information of accounting
Understanding a balance sheet
Recognising the link between assets and liabilities
Knowing how depreciation works
Interpreting the profit and loss account
Money matters
The importance of liquidity
Detailing the factors that affect cash flow
Understanding the concept of working capital
Allocating the types of costs to a business
Appreciating the relationship of cost to volume
The use of budgets
Knowing the purpose of budgets
Putting plans into action
Understanding the implications of variance analysis under and over budgeting
Course features
The financial skills needed by all managers are outlined and analysed through discussion and practical exercises. There will be ample opportunity to ask questions and share your personal experiences in order to translate the theory into practical application to working environment.
