Who will the Course Benefit?
Managers who need to know more about finance to improve their planning, costing and budgeting skills. This course is designed for busy managers and those professionals who have a responsibility for financial matters within their job role.
The course is suitable for those in both the private and public sectors from small and medium sized enterprises to multinational corporations. It is designed for all those who are affected by the finances at work.
The aim of this one-day course is to provide managers with awareness and basic understanding of the way finance affects their business objectives. This course is designed for busy managers and those professionals who are responsible for financial matters without necessarily having a job title or qualifications to match. The content is delivered in an easy-to understand way, speaking your language and enabling you to understand the financial way of seeing things.
During the day you will learn to read the accounts, understand the terminology, be able to influence and control your key financial measurements, targets and budgets – all from an operational management perspective. The programme enables to you gain confidence in developing financial negotiations, participate in meetings where the finances are being discussed, build you own budgets, monitor your budgets and take a more active role in the financial aspects of the organisation.
What the delegates will gain from the course:
- The ability and confidence to discuss financial matters within the organisation through understanding the terminologies and methods used
- A working knowledge of profit/loss, balance sheets and cash flow and an ability to read financial statements
- An increased competence in planning, monitoring and controlling a budget
- An improved ability with regard to costing and pricing the organisation’s products and services
NB. Delegates need to bring along a calculator so that they can work out some of the key measurements and financial ratios during the day.
09:30 – 10:00 Coffee & Course Objectives
10:00 – 10:30 Understanding The Role of ‘Finance’ (The roles of the Finance Department and the non-finance manager; basic financial implications)
10:30 – 11:00 Financial Terminology Demystified (Translating into plain English – what do they mean?)
11:00 – 11:15 Coffee break
11:15 – 12:30 Understanding the Financial Reports (Assets, liabilities, income and expenditure; The Profit & Loss account; the Balance Sheet; the Cash Flow Statement; cash and profit)
12:30 – 13:30 Lunch Break
13:30 – 14:15 Key Financial Ratios (Profitability; Return on Capital; Capital Turnover; Working Capital; Current Ratios; Debtors Ratio; Business Trends)
14:15 – 14:45 Finance in the Business (The business cycle, planning, target setting, measurements. The importance of the year-end activities: accruals and reserves. The importance of Expense Control)
14.45 – 15.00 Tea
15.00 – 15.45 Budgeting, Costing & Planning (Planning a budget. Monitoring and controlling a budget. Plans against actual. Variance analysis)
15.45 – 16.15 Costing and Pricing (Methodologies, break-even points)
16:15 – 16:30 Summary & Action Plans Agreed