Course Overview
Finance For Non-Finance Professionals
In today’s changing business conditions and intense competition, there is a need for all functional or business heads to grasp, understand and apply fundamentals of financial accounting knowledge in respective areas or business units to be all rounded professional managers. Moving forward, most functional and business managers are expected are deemed ‘owners’ of the profit & loss numbers!
By acquiring this skill, this will enable them to better understand and analyses financials statements, contribute effectively in the budgeting process and makes effective decision in investment and project selection. This programme will highlight methods used by finance function which are relevant today for management decision support.
Course Objectives
On completion of the programme, participants will be able to:-
- Master the interpretation of financial statements
- Identify key financial concerns via variance analysis for financial sector products.
- Know how to analyse and evaluate key financial indicators in view to contribute towards improving organisation’s performance
- Understand the concepts, language and basic rules of accounting & finance.
- Equip oneself with knowledge in order to effectively manage a business organization.
Training Approach
Where appropriate, activities will include the following:
- Lecture & Videos
- Faciliated Group Discussions & Quiz
- Practical exercises and case studies
Course Content
The key content of the program include the following:
Introduction to Finance Accounting & Finance Analysis
Building Financial Knowledge:
- Financial Terminology
- Practical understanding of practical finance and accounting concepts
Understanding financial statements
Types of financial statements: Profit & Loss, Cash Flow, Balance Sheet & its importance and usefulness
Evaluation business performance and viability through :
- Margin analysis
- Return of Investment (ROI), Gearing (leverage) & liquidity ratios
Learn the golden rule of financial management (personal & company finance)
- Working capital management
- Why rich companies get richer?
- Cash versus profit measures
Management reporting: Variance Analysis
- Understanding essentials of variance analysis & how variances are calculated
- What causes budget variances?
Budget process
- Overview of Top Down and Bottoms Up budgeting and forecasting process & methodologies with simple practical exercises
- Importance of assumptions and SWOT analysis for budget setting exercise
- Identify which cost element which are difficult to forecast
- Capital Expenditure and Revenue Expenditure Concepts
Understanding budget via understanding of cost
- Cost element classification
- Value Costing
- Costing methods and structure
- Identify firm’s Cost drivers
- Different types of cost – fixed, variable
- Breakeven and contribution analysis
Cash Flow Statement & Management
- Ten Tips for Managing Cash Flow for Companies
- Understanding operating cash flow by work capital management
- Working Capital Management definition and its importance in cash flow management
- Managing company inventories for enhancing cash liquidity
- Understanding Cash Flow Statement Components for forecasting
- Sample CF format case study interpretation
