Finance for Non-Financial Managers
Let's face it, analysing numbers and doing maths might not be your idea of a great night out (otherwise you'd already probably be an accountant) but every manager needs to have a basic grip of figures. Budgets need to be set and managed, cash flows produced and monitored, business cases justified and costs controlled. Understanding finances is not only essential to the day to day running of your team or department, but can greatly aid you in making decisions; as well as becoming more efficient and productive.
This course is delivered using a highly engaging business simulation to demonstrate the impact of day to day decisions on the profitability and financial position of the organisation.
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To help you understand basic financial documents used in business, learn how to interpret the information in these documents, and use this knowledge to manage day to day business activity.
Non-finance professionals at all levels who need to develop an understanding of business finance.
• Prepare budgets and control costs.
Having managers which understand the financial make up of an organisation will allow them to make better decisions, ultimately leading to a more profitable and efficient business.
Whether you like it or not, as a manager, you will need to have involvement with numbers. By gaining a better grasp of finance and numbers, you will enable yourself to be more effective in your managerial role.
Introduction to Finance for Non-Finance
- What is it?
- Why is it important?
- How a great understanding will help you.
- Purpose of a budget.
- Key terminology.
- Setting an effective budget: the techniques - pros and cons.
- Identifying costs - fixed and variable, direct and indirect.
- Managing a budget - monitoring and analysing.
- Techniques for managing costs.
- Variance analysis.
- Gross margins and operating costs.
- Cash flow forecasting.
- Pricing strategies, discounting and volume of sales impact on the bottom line.
- What is capital expenditure?
- Techniques for estimating return on investment (ROI).
- Financial jargon demystified.
- Accrual accounting explained.
- Purpose and content of key financial statements: Profit & Loss statements, Balance Sheets and Cash Flow.
- Key financial ratios - an introduction to analysing accounts.