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Home > Professional Development > Management & Leadership > Financial Management for Non-Finance Managers
Financial Management for Non-Finance Managers
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| Learning Method: |
Instructor Led |
Overview: |
- Communicate the key concepts and principles underlying financial information, including accrual accounting
- Read the Balance Sheet and Profit and Loss Statement
- Interpret managements' financial reports and evaluate financial performance
- Identify the factors that contribute towards Return on Investment
- Apply financial analysis techniques such as break even and discounted cash flows
- Improve cost control
- Improve working capital management
- Improve planning and budgeting procedures.
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Target Audience: |
| Those that have recently benefited from this workshop include: Sales and Marketing Managers, Administration Managers, Technical Managers, IT Managers, Operations Managers, Business Managers and Project managers from medium to large organisations. Owners/managers from smaller organisations.
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| Lesson 1: Basis of the accounting system |
- The different functions of accounting
- How does the accounting system work?
- What is the chart of accounts?
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| Lesson 2: Major accounting terms, principles and concepts |
- Assets and how they are valued
- Liabilities and how they are valued
- Equity and how it's disclosed
- Revenue and expenditure
- What are the provisions, accruals and prepayments?
- Depreciation and other non-cash items
- What is accrual accounting?
- Profit versus cash
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| Lesson 3: The financial statements |
- Understanding the connection between the financial statements
- The Balance Sheet - the financial "snapshot" of the business
- The Profit and Loss Statement - the historical record of trading
- Internal versus external reporting
- What are the more important items should look for?
- What the financial statements will not disclose
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| Lesson 4: Analysis of financial statements |
- How ratios are used to measure financial performance
- The more important financial ratios you should know
- What is Economic Value Added (EVA) and why you should understand it
- How you can use ratios to better manage you business unit
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| Lesson 5: Costs, volume and prices |
- Different types of cost behaviour
- How overheads are allocated or recovered
- How you can use break-even analysis to better plan
- How costs, volumes and prices affect profit
- Costing and pricing products and services
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| Lesson 6: Improving your management of working capital |
- Why is working capital important for a business?
- How would you impact on your organisation's working capital
- How much working capital does your business need?
- Elements of good working capital management
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| Lesson 7: Improving your capital budgeting |
- Planning for capital expenditure
- What is the importance of the cost of capital?
- Overview of major capital budgeting techniques
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| Lesson 8: Improving your planning and budgeting |
- Business planning and budgeting
- Why is budgeting necessary?
- Budget preparations methods
- How budgets can go wrong
- Budget variances analysis
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