Finance for Non-Finance Managers Course

Introduction

For managers in business today, it is essential to have a working knowledge of finance. We all play a role in our organisation’s financial health, whether we realise it or not.

If you don’t have any training or a background in finance, you may be at a disadvantage at the management table. Understanding the cycle of finance will help you understand where you fit into your company’s financial structure, and how to keep your department profitable.

This course will help you with the key concepts of finance and accounting and help you make better financial decisions with more confidence.

The Power of Informed Financial Decisions

Understanding the importance of making informed and timely decisions

Financial Literacy Fundamentals

• Key financial terms and accounting principles
• Learn practical tools and techniques for effective financial management
• Understand the nuances between cash and accrual accounting
• Discover the differences between management and financial accounting

Decoding Financial Statements

• Understanding assets, liabilities, and the balance sheet
• Differentiate between capital expenditures (CapEx) and operating expenses (OpEx)
• Master the art of reading profit and loss statements and cash flow statements
• Gain insights into the differences between profit and cash flow
• Recognize the limitations of financial statements and what they don't reveal

Cost Management Strategies

• Understand how costs influence decision-making
• Explore the different types of costs: fixed, semi-variable, and variable
• Learn strategies for managing and reducing costs effectively

Budgeting for Success

• Discover the essentials of budgeting for strategic planning
• Engage in hands-on budgeting practice to solidify your skills
• Learn the "Golden Rules" techniques of successful budgeting

Measuring Performance

• Utilize key accounting ratios to assess financial health
• Monitor important KPIs to maintain performance and stability

Action Planning

• Reflect on past decisions and set personal financial goals
• Plan strategic changes with enhanced financial insight