Finance for Non-Financial Managers

This two-day overview course has won praise for the straightforward way in which it untangles the web of mystery that surrounds financial and management accounting in the eyes of many non-financial managers. By so doing it enables them to understand and manage the impact of their decisions on business results, interact more productively with their finance-based colleagues and exert greater influence on decision making in their organization.

The Nature and Purpose of Accounting

• A simple model of an organization’s accounting framework
• Who uses the accounts and what do they use them for?
• Where can I find out about my organisation’s/my competitors’ financial position

Profit and Loss Accounts, Balance Sheets and Cash Flow Statements

• Their structure and terminology, what they tell us and why they need to be reviewed together to gain a full understanding of business performance
• Using financial information as a management tool
• Understanding how operational income and costs are accounted for and the implications for how you manage costs in your department

Managing Finance

• Understanding working capital: What it is? How can we manage it?
• Why too much working capital is bad for you and too little may be disastrous
• Optimizing working capital for your organization and the implications for negotiating with customers and suppliers
• The distinction between profit and cash flow
• Considering sources of funding

Understanding Management Accounting Including Budgeting

• Putting together a robust budget
• Negotiating budget funding
• Assessing variances and reforecasting the budget
• Evaluating feasibility of operational projects via break-even analysis
• The effects of depreciation

Personal Development

• Formulating an action plan