Finance for Non-Financial Managers

Finance is the art of passing currency from hand to hand, until it finally disappears.
Overview

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.

 

Course Code
FIN2NFM
Duration
2 Days
Delivery Style
Classroom
Course Type
Public or Private
Max Delegates
12
Available as Nutshell
No

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Purpose of this course

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.
Who is this course for

Non-finance professionals at all levels who need to develop an understanding of business finance.
You will learn how to

• Prepare budgets and control costs. 
• Analyse your costs and improve your expenditure.
• Forecast cash flow. 
• Use financial techniques to demonstrate return on investment. 
• Explain management accounting terms and their relevance to your work.
Benefits for your organisation

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.

Benefits for you as an individual

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.
Budgets
  • 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.
Capital Expenditure/Project Investment
  • What is capital expenditure?
  • Techniques for estimating return on investment (ROI).
Statutory Financial Statements
  • 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.
Prerequisites

None.

About the Lead Trainer

Adam Montgomery

Adam Montgomery heads up our leadership and management portfolio and is wildly passionate about developing people. He has over twenty years’ experience in the training industry, has set up and ran two businesses, worked at director level with many customers, led and grown organisations, been a professional stand-up comedian, is an inspiring public speaker and is currently writing a book on the challenges of IT management.