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FIN 001 – Finance for Non Finance Managers: Empowering Financial Context

FIN 001 – Finance for Non Finance Managers: Empowering Financial Context

Teachers
Ms Suchitra Mahendraj
Category:
Finance / In-House Programs /
6 Reviews
FIN 001 - Finance for Non Finance Managers: Empowering Financial Context

Duration: 2 Days
Lectures: InHouse
Certificate of Completion

INTRODUCTION

A general understanding of Finance for Non-Financial Managers is needed in any business environment where individuals have to manage budgets or costs and to take responsibility for revenue or expenditure. With the increasing emphasis on business results it is necessary for every manager to know and understand some of the techniques and actions necessary to ensure that their unit achieves its objectives both in terms of task and also in terms of financial goals.

Objective

  • Make Better Bottom-Line Decisions with a Working Knowledge of the Numbers End of Business
  • Gain a New Sense of Confidence When Dealing with Financial Professionals
  • Understand the Business Dynamics of Dollars and Cents—and Take Initiatives That Optimize Results in Line with Short- and Long-term Goals
  • Take the Guesswork Out of Your Decision Making and Deliver the Results You Need
  • Cultivate Proactive Working Relationships with Financial Professionals and Enhance Your Value to the Organisation
  • Learn How to “Think Finance” and Translate Various Measures of Performance into Financial Terms

Methodology

2 Days of Lectures, Discussion and Case Studies

2 Days Training Modules

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Day One

  • The Importance of the Accounting Equation
  • The Significance of Standards Applied in the Process of Preparing Financial Statements
  • The Accrual Process
  • The Difference Between Accounting Profit and Cash Flow

  • Understand the Purpose of and Terminology Associated with the Following Financial Statements:
    • Income Statement or Profit and Loss Statement (P&L)
    • Balance Sheet
    • Statement of Retained Earnings
    • Cash Flow Statement
  • Understand the Accounting Process, from the Recording of Business Transactions to the Preparation of Financial Statements

  • Calculate the Key Financial Ratios Using the Financial Statements
  • Use Financial Ratios to Evaluate:
    • An Organisation’s Liquidity, Leverage and Profitability
    • The Performance of an Organization as Compared to Its Competitors’
    • An Organization’s Performance Compared with Budgeted Goals
  • Identify Sources of Financial Information beyond the Financial Statements
  • Use the Dupont Formula to Evaluate Management Performance
  • Use the Concept of Economic Value Added (EVA(R)) and Cash Flow Return on Investment (CFROI) to Determine if a Segment of an Organisation Is Adding Value to the Business

Day Two

  • Differentiate between Fixed and Variable Costs
  • Help Your Organization Improve Profitability through the Use Of:
    • Break-even Analysis
    • Contribution Margin Analysis
    • Direct Costing in Appropriate Situations
  • Understand Traditional Cost Accounting and Its Limitations
  • Understand the Relevance of Activity-Based Costing in Today’s Business Environment

  • Distinguish between Capital Expenditure Budgets and Operating Budgets and Understand the Function of the Capital Budget
  • Understand Why Cash Has a Time Value
  • Recognize and Apply Different Methods of Evaluating Capital Expenditure and Monitoring Project Performance

  • Critical Path to Profitability
  • The Financial Impact of Day to Day Decisions
  • Tips to Reduce or Control Costs

About Instructors

Ms Suchitra Mahendraj
- Business Acumen and Risk Management - Finance for Non-Finance Professionals - Budgeting and Planning - Financial Analysis