Finance and Budgeting for Non-Financial Managers 3-day Program

Introduction:

A crucial KPI for managers is how effectively they oversee departmental budgets. For a non-financial manager to succeed in this area a comprehensive knowledge of basic financial principles and budgeting process is critical.

This program will demonstrate how to transform financial and accounting concepts into effective decision-making tools that participants can use successfully every day to successfully manage their budgets. Participants will learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial performance of business activities.

The program will cover the terminology used by accounts and finance staff so that non-finance staff feel more confident when dealing with them. It will help develop skills in all areas of financial and budget management and help participants to prepare for senior management, where financial awareness is crucial.

The basic program is 3 days but can be tailored to a more in-depth 5-day program on request.

Course Objectives and Outcomes:      

Participants will learn how to:

• Understand and evaluate the meaning of profit and loss accounts and balance sheets
• Integrate financial concepts and policies into management decision and budgeting processes
• Use ratio analysis and interpretation of key performance indicators.
• Understand detailed financial terminology
• Employ cash flow analysis to assess business status
• Calculate the cost of business activities and us this to price effectively
• Use financial tools such as break-even analysis
• Manage working capital
• Control business operations through effective budget management

The course will include numerous practical exercises and examples to reinforce the theoretical content and to allow participants to build a comprehensive knowledge and understanding of financial and budgeting practices.

Course Content:

Overview

The Importance of Finance

• Financial jargon and terminology
• Accounting principles
• Accountability and responsibility for financial information

Understanding the profit and loss account

• Profit, operating and capital expense items
• Measuring profit and business success
• Analyzing a balance sheet
• Evaluating the worth of an established business
• Fixed and current assets and liabilities
• Linking the profit and loss account to the balance sheet
• Shareholder equity

Cash Flow

• Cash flow, profit, and net worth
• Connecting cash management to line management
• Maximizing benefits and minimizing costs
• Generating unique information from cash flow statements