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Non-Financial Professionals' Guide to Financial Management

Developing Your Financial Acumen to Increase Your Management Potential

  • Classroom Training

Course Location

No upcoming event

Course Description

Introduction

The financial aspects that are essential to a business's success must be understood by business experts. This engaging training session on financial management for non-financial professionals will explain how money moves in the quick-paced business world of today. The fundamental components of any business's success and competitiveness are profitability, liquidity, and financial structure. Thus, these three components are thoroughly investigated and developed across the board in corporate activity. 

You will gain knowledge of the accounting procedures for documenting and summarising business transactions, as well as how these are required by law to be reported as periodic financial reports. You will also discover how different user groups assess these financial data.

With an internal focus, this Course N Carry Non-Financial Professionals' Guide to Financial Management training course will discuss the importance of management accounting for the survival and growth of businesses. It will demonstrate how budgeting may raise profitability and reduce expenses. It will outline and create instruments and methods for assessing new investment proposals. You will be able to comprehend the company from both a financial and strategic standpoint, as well as how actions made at the corporate level will affect profitability, by attending this training course. 

Key points from this training session:

  • The Finance Function's operational and strategic role 
  • The fundamentals of financial reporting and accounting 
  • How are financial reports analysed and understood? 
  • In what ways does management accounting support efficiency gains and control? 
  • How can we make sure that the returns on investments match the shareholders expectations?

Goals

After attending this training session, you ought to be capable of: 

  • Describe the purpose, nature, and interpretation of financial statements.
  • Communicate with financial professionals in an efficient manner by using the accounting and finance languages. 
  • Using the proper financial ratio and break-even analysis tools, evaluate the financial performance and position of a company. 
  • Utilise budgetary control to determine corrective measures by comparing actual performance to planned performance. 
  • Assess investment projects with DCF and other techniques for appraisal. 

Training Methodology

Using case studies and current company and market information sources, this interactive training seminar will include a variety of learning activities, such as tutor presentations with opportunities for Q&A, analytical technique demonstration and practice, group exercises, and discussions. Although the theoretical underpinnings of financial management will be elucidated and rationalised, the primary focus will be on contextualising these ideas through the provision of a useful financial "toolkit" of strategies.

Impact of the Organization

What are the benefits for your company of having staff members attend this training seminar? 

  • A better understanding of the function of finance and accounting
  • The capacity to comprehend financial reports' and accounting systems' structures 
  • Ability to contribute to financial debates more successfully and intelligently 
  • Capacity to employ methods and instruments for managing and controlling finances 
  • Increased comprehension of the primary factors that guarantee competitiveness and sustained growth 
  • Understanding the methods for identifying, evaluating, and managing business risks 

Impact on Person

By being the following, participants will be able to enhance their personal management skills: 

  • Greater understanding of accounting, finance, and the significance of financial reporting
  • More financial knowledge to facilitate better managerial decision-making 
  • More proficient in using financial jargon and contributing to financial discussions 
  • More capable of supporting their organization's efficient financial management 
  • Capable of assessing potential options and determining the best decisions in terms of their organization's future development 
  • Able to communicate with other departments on finances more successfully 

Persons Who Ought to Attend?

  • Executives in Sales and Marketing 
  • Professionals in the supply chain
  • Project Managers 
  • Internal Auditors 
  • Anyone who isn't a financial professional but yet needs to read, understand, and participate in company financial reporting 
  • Senior Engineers, Marketers, and Manufacturing Professionals 
  • Professionals in Human Resources 
  • Legal Experts 
  • Executive Professionals engaged in the creation of global strategic alliances and long-term partnerships with suppliers, outsourcing partners, and customers 
  • Consultants that assist in enhancing operational and financial procedures by working with professionals and executives 

Course Outline

The Function of Accounting in the Business Environment 

  • The Business Environment 
  • The Functions and Goals of Accounting 
  • The Accounting Terminology for Users of Financial and Accounting Information 
  • The Accounting System with Dual Entry 
  • The financial performance of the Income Statement 
  • The financial status shown on the balance sheet 
  • Profit vs. Cash Flow 
  • The Cash Flow Statement: Where does the money come from and go? 
  • The Connections among the Balance Sheet, Income Statement, and Cash Flow Statement 

Financial Analysis and Statements of Financial Position 

  • Accounting Standards (IFRS) and Conventions in Accounting
  • Essential Components of Publicly Available Annual Financial Reports (AFR) 
  • Methods of Financial Statement Interpretation: Ratio Analysis and Common-Size Analysis 
  • Financial Statements analysis - Case Study 
  • Cash Flow Ratios - A different perspective 
  • Calculating Ratios and Other Important Indicators to Predict Business Failure 
  • Sources of Corporate Financial Data That Are Open to the Public 

Making a budget and analysing break-even 

  • Accounting for Management: An Internal View
  • The Value of Cost Analysis: Overhead, Labour, and Materials 
  • Knowing overheads and how to account for them in internal analysis and decision-making Understanding CVP (cost, volume, profit) analysis and the break-even point 
  • Making Profitable Decisions with the Help of CVP Analysis 
  • The Reason Behind and Significance of Budgeting 
  • Setting Up and Using Your Budget 
  • Various Budgeting Models: Are They Applicable to Your Company? 
  • Is creating a budget a useful management strategy? 
  • Concerns about Asymmetric Behaviour, Motivation, Risk, and Uncertainty 

Appraising Capital Investments and Managing Budgets 

  • Controlling Spending with Monthly Management Reports
  • Ordinary Costing and Analysis of Variance 
  • An Example of Computing and Analysing Variances 
  • Internal Growth Plans: Capital Investment Types 
  • ARR and Payback as a Filtering Process for Basic Appraisal Techniques 
  • Why should the time worth of money be taken into account? 
  • NPV and IRR: Discounted Cash Flow Appraisal Techniques 
  • Practical aspects of NPV appraisal to take into account include risk, uncertainty, capital rationing, and inflation. 
  • Spreadsheets for Investment Appraisal Exercises 

Financing the Business and Re-organisation Strategies

  • Financing the Business – Why and When
  • Financing Principles, Short-term vs. Long-term, Debt vs. Equity
  • Sources and Types of Finance
  • Determining the Cost of Long-term Finance - The cost of Capital Models:
  • Cost of Equity (Ke) – Dividend Valuation Model
  • Cost of Equity (Ke) - Capital Asset Pricing Model
  • Cost of Debt (Kd)
  • Weighted Average Cost of Capital (WACC)
  • Review of External Growth Strategies
  • Mergers, Acquisitions and Joint Ventures
  • Review of Restructuring Strategies: Demergers, Spin-offs, Unbundling, MBO, MBI, BIMBO

Certificates

On successful completion of this training course, Course N Carry Certificate will be awarded to the delegates.


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