Finance for Non-financial Managers

Short Course
Duration: 2 days   /   Level: General   /   Suitable for in-house

Develop your confidence and understanding of the financial aspects of the business. 

Details

SKU#MAN:FNFM

Dates and Availability

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Start Date Location Availability Non-members Members Delegates  
21 June 2017
Duration: 2 days
London Spaces available
£880.00
+ VAT
£790.00 + VAT Book places now
13 September 2017
Duration: 2 days
London Spaces available
£880.00
+ VAT
£790.00 + VAT Book places now
27 September 2017
Duration: 2 days
Birmingham Spaces available
£880.00
+ VAT
£790.00 + VAT Book places now
11 December 2017
Duration: 2 days
London Spaces available
£880.00
+ VAT
£790.00 + VAT Book places now

Booking Information

  1. • If you need to book more than four places on one date please contact us on +44 (0) 20 8612 6202 or email us
  2. • If you prefer not to book online, you can download and print a booking form here (PDF 128KB)
  3. • Choose to pay by invoice or card during checkout
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Details

This practical two-day course will help managers develop their financial understanding, understand how their decisions affect an organisation’s financial performance and improve their organisation’s financial performance.

We will demystify the jargon, explore key ratios, and examine key trends and areas for concern. Then we change the emphasis to identifying the future key issues, and threats and opportunities and how to plan and budget for them.

Run as it features here, or run in-house where the content can be tailored to suit your organisational needs; cost effective if a number of people require training.  Request a call back and one of our consultants will get in touch to discuss your needs.

Course Tutors

Mr Michael Norman

Who is it for

Finance for Non-financial Managers is a two-day course for managers who want to develop their financial understanding, understand how their decisions affect an organisation’s financial performance and improve their organisation’s financial performance. Whether you’re a new manager or an existing manager wanting a refresher this workshop will be useful. Relevant to public, private and not-for-profit sectors.

Benefits

By the end of the Finance for Non-financial Managers course the participants will:

 

  • understand and analyse Balance Sheets and Income & Expenditure Accounts for key issues and financial Strengths and Weaknesses
  • understand the importance and relevance of financial principles such as Expected Return and Return on Investment (amongst others)
  • analyse, understand and manage their own Income and Expenditure accounts more effectively
  • understand the importance of Cashflow and Cash management
  • use internal Management Accounts to monitor and improve performance against Budget
  • recognise areas of concern and recommend ideas for improving financial performance and productivity
  • contribute more effectively to Budgeting negotiations
  • recognise at least 3 different methods of preparing Operating budgets, and the strengths and weaknesses of each method
  • feel much more confident about their understanding of financial terms and jargon
Programme

PLEASE NOTE: You’ll need to bring along a calculator. Extensive use is made of case studies to consider key concepts if possible your own organisation’s figures/examples can also be considered.

 

Tutor support will be available to you after the course via email. 

 

Sessions Outline

 

Course objectives

  • Introductions and course objectives
  • Participants’ own needs and wants from the course
  • An overview of financial principles such as Return on Investment and Resource Allocation

 

The Balance Sheet

  • Understanding different Assets and Liabilities
  • About Fixed Assets
  • Current Assets – what they are and how to improve
  • Current Liabilities – what they are and how to improve them
  • Benchmarking and comparators
  • Key Ratios and trends
  • About Gearing

 

The Income and Expenditure Account (or Profit and Loss Account)

  • The key components of the Income and Expenditure Account
  • Analysing Key ratios and trends
  • Managing different types of Costs and their behaviour
  • Analysing income streams
  • Improving Profitability and Productivity
  • The Power of 1%
  • Benchmarking and comparators
  • Profit/Surplus and Cashflow are different things!

 

Management Accounts

  • What Management Accounts should tell us
  • How these figures contribute to overall performance
  • Managing the cashflow as well as the costs
  • Managing variances and making any necessary improvement


Using ratios to benchmark our performance

  • How to use the key ratios to benchmark our performance
  • Recognising areas where performance is slipping and which need management attention

 

Generating ideas to improve financial performance, including people’s productivity

  • Identifying and investing more in high performing assets and activities
  • Identifying and improving underperforming assets and costs


Moving from Analysis to Forecasting

  • The principles of Forecasting and Budgeting
  • Revenue Budgets
    • The strengths and problems of traditional budgeting methods
    • 2 other approaches which can complement and improve traditional budgeting methods
  • Budgeting for Projects – how to do a Cost-Benefit Analysis
  • Capital expenditure
    • Cost of Capital issues and the time value of money
  • Where budgeting can go wrong and how to avoid the principal problems


Understanding the jargon

  • A free discussion clarifying any remaining questions about terminology and jargon


Action planning

  • What does this all mean for my organisation and my team?
  • What areas do we need to work on?
  • Action plans for when I get back to work
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