Management

Finance for Non-Finance Managers

In today's competitive business world firms are under unprecedented pressure to deliver value to their shareholders and other key stakeholders. Senior executives are finding that they need some financial know-how to cope with the responsibility placed on them as decision-makers. Key financial skills are not as difficult to learn as many people believe and in the hands of an experienced senior executive can provide a formidable competitive advantage.


 

Agenda:

​Structure of the financial statements (Profit & Loss/Income & Expenditure Account, Balance Sheet and Cash Flow), with an emphasis on the impact of day to day decisions, actions and transactions on the business finances.
How does it work within your own organization? Application of accounting concepts to your own business to really understand what it means to you.
The implications of discounting on your margins.
Analyzing and understanding financial information using ratios and considering how the results can be improved.
Business cases: what important elements should be considered when contemplating large expenditure?
Techniques for financially evaluating capital expenditures/projects
Creating an effective budget: the importance of good budgeting, techniques, pros/cons of each and how to identify the relevant costs for a budget
Managing a budget successfully: what should a budget holder do?
Techniques for managing costs
Variance analysis, action planning, forecasting


Benefits:

​Understand fundamental business finance concepts
Understand the vital difference between profit and cash flow
Evaluate pricing decisions
Use powerful analytical tools to measure performance of their own company and competitors
Understand the role of business finance in formulating and implementing competitive strategy