Finance For Non-Financial Managers Course

Upon completion of this course, the participants should be able to:

• Describe financial management terminology, concepts and principles
• Apply various financial planning techniques such as budgeting, cash-flow projections, cost benefit analysis, variance analysis and cost management
• Analyse and interpret financial management statements and reports such as the balance sheet, income and expenditure statement, budget, cash flow projection, variance analysis and assets register
• Describe valuations and credit management principles and processes
• Explain how financial decisions are arrived at
• Give the basic principles of sound business investment decisions
• Appreciate financial principles of accountability, cost effectiveness, cost efficiency and value for money
• Apply ratio analysis of financial statements and appreciate the advantages and limitations of ratio analysis
• Describe financial management success and failure factors

The role of management

• The financial management cycle
• Your Role in the Company Finances

Accounting Terminology

• The Balance Sheet
• Liabilities and Equity
• Profit and Loss Statement (Income Statement)
• Cash Flow statement
• Financial management failure and success factors
• Centralised vs decentralised financial management
• Analysing various accounting ratios

Budget planning and management

• Aligning budgets with management plans
• Format of the budget submission
• Preparing a budget
• Budget and budgeting cycle
• Different budgeting processes
• Strengths and weaknesses of various budgeting techniques
• Cash flow projections
• Forecasting

Asset management

• Revenue management
• Tracking Business Expenses
• Using Accounting Software
• Ethical issues surrounding accounting
• Managing Profit Performance
• Comparing Investment Opportunities
• Credits vs. Debits
• Bookkeeping

Monitoring financial processes and procedures

• Variance analysis early warning system
• Analysis and interpretation of financial statements
• Analysing income statements and balance sheets
• Apply ratio analysis and percentage of financial statements
• Advantages and limitations of ratio analysis

Financial reporting and auditing

• Overview of the auditing function
• The external audit process

• Session One: Introduction and Course Overview
• Session Two: Balancing self, team & society
• Session Three: Ethics
• Session Four: Introduction to financial management and strategic planning
• Session Five: Time Value of Money
• Session Six: What is finance?
• Session Seven: Your role and the role of financial players
• Session Eight: Budgeting
• Session Nine: Procurement
• Session Ten: Accounting and Bookkeeping
• Session Eleven: Expenditure Control, Early Warning Systems & Variance Analysis
• Session Twelve: The balance sheet
• Session Thirteen: Liabilities and equity
• Session Fourteen: Income Statement
• Session Fifteen: Cash flow statement
• Session Sixteen: VAT
• Session Seventeen: Disposal of tangible assets
• Session Eighteen: Analysing financial statements
• Session Nineteen: Managing Profit Performance
• Session Twenty: Comparing Investment Opportunities
• Session Twenty one: The Human Aspect
• Session Twenty two: Auditing and Corporate Governance