Finance for Non Finance Managers

Course Aims:

This course is aimed at managers from all disciplines who need to improve the way they manage finances (budgets, cash flow, profitability) in their area of responsibility. 

Course Objectives:

At the end of this course delegates will be able to:

  • Understand the fundamental finance principles and terminology.
  • Be able to interpret key financial statements and reports to inform their decision making.
  • Understand how the budgeting process works, and be able to prepare, interpret and act upon budgetary information.

Duration/Location:

  • 1 or 2 days/In house

Introduction and objectives

  • Managing a business and managing money
  • Importance of finance controls for the success of the business
  • The key financial responsibilities of a manager

Finance basics

  • Why we produce financial information
  • Key financial terms
  • Revenue, profit, costs, assets, cash, etc
  • Statutory accounts vs management accounts

The balance sheet

  • What it is and why it is important
  • What is included in a balance sheet
  • Understanding the difference between fixed and current assets and liabilities
  • Treatment of assets and concept of depreciation

Profit and loss account

  • How the balance sheet, P&L and cash flow statement interact with each other
  • Capital purchases, revenue purchases and stock

Interactions and

interdependencies

  • How the balance sheet, P&L and cash flow statement interact with each other
  • Capital purchases, revenue purchases and stock
  • How the balance sheet, P&L and cash flow statement interact with each other
  • Capital purchases, revenue purchases and stock

Budgeting

  • What is a budget and why it is important
  • Building up a budget
  • Monitoring and control and variance analysis

Action planning

  • Transferring learning back to the workplace