Elementor #8023

FINANCE FOR NON-FINANCE MANAGERS/DIRECTORS

TARGET AUDIENCE: Directors, Chartered Accountants, Budget Director, Operations managers, Finance managers etc.

COURSE DESCRIPTION

The course covers both the key financial principles and crucially enables delegates to understand and build each financial tool via fully supported practical sessions within a safe environment. It provides practical insights and gives non specialists a swift appreciation of the fundamentals of finance and accounting, leading to better retention of the knowledge gained. Upon completion of this course, you will have gained general financial knowledge and an in-depth understanding of the impact of your decisions outside your functional area. This class will be interactive and will require the active involvement of the participants in finance related activities.

  • This intensive seminar is designed to emphasize on the tools, skills and techniques required by Executives to strengthen awareness and interest in best practices, widely used and recommended to excel as multifaceted leaders in today’s dynamic business world. At the end of the workshop participants should be able to:
  • plan more effectively as to take the financial impact of your decisions into consideration
  • identify what causes and drives costs
  • gain insight into working capital management
  • understand and build effective costings
  • understand and interpret: balance sheet, profit & loss, cash flow statement
  • understand the implications of finance on various corporate activities
  • understand and analyse financial statements
  • be in a better position to discuss relevant financial issues with finance managers/stakeholders in their organisation
  • understand the impact of various decisions on a company’s performance
  • get practical insights and gain swift appreciation of the fundamentals of finance and accounting.

MODE OF WORKSHOP (DELIVERY)

  • PowerPoint presentation,
  • Training manual
  • Interactive presentations and tutorials
  • Videos and posters
  • Debates and discussions
  • Quizzes
  • Case studies

COURSE OUTLINE

MODULE 1:

KEY FINANCIAL CONCEPTS AND PRINCIPLES

  • Bookkeeping versus Accounting
  • Cash accounting versus accrual accounting in private and public sectors
  • Types of accounts in the General Ledger, their purpose and the chart of accounts
  • Double –entry bookkeeping concepts and implications
  • Depreciation and amortization
 

MODULE 2:

MANAGING THE FINANCES & COSTS OF PROJECTS

  • Financial aspects of building the business case and getting approval for funding
  • Estimating project costs- different estimating techniques
  • Project forecasts, cost variances and cost control
  • Project risks and financial implications

MODULE 3:

READING FINANCIAL STATEMENTS

  • International Standards in the private and public sector
  • Format and content of the statement of profit or loss
  • Format and content of the statement of financial position
  • Investor ratios

 

MODULE 4:

THE PROFIT & LOSS (P&L) STATEMENT

  • Format and content of the P&L statement
  • Understanding the principles behind the numbers
  • Building P&L statements
  • The link between the P&L and the balance sheet

 

MODULE 5:

THE BALANCE SHEET

  • Format & content of the balance sheet
  • Understanding the principles behind the numbers
  • Building the balance sheet
  • Balance sheet analysis

MODULE 6:

CASH FLOW FORECASTS

  • The importance of cash flow
  • The format and content of the cash-flow forecast
  • Building the cash flow forecast
  • Linking cash flow to the profit and loss account

MODULE 7:

BUILDIING EFFECTIVE BUDGETS

  • The format and content of the budgets
  • Ensuring accurate information
  • Building the budget
  • Managing the budget

 

MODULE 8:

 BUILDING EFFECTIVE COSTINGS

  • Key costing techniques
  • Understanding margin management
  • Integrating costing with budgeting

Budget and Cost reporting

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