From finance basics to understanding the essence of cash flow to corporate value creation, this comprehensive training program covers all aspects of corporate finance.
Overview
In today’s changing business conditions and intense competition, there is a need for all functional business heads to grasp, understand and apply fundamentals of financial accounting knowledge in respective areas or business units to be all rounded professional managers. Moving forward, most functional and business managers are expected are deemed ‘owners’ of the profit & loss numbers!
By acquiring this skills, this will enable them to better understand and analyses financials statements, contribute effectively in the budgeting process and makes effective decision in revenue and cost management.
This programme will highlight methods used by finance function which are relevant today for management decision support and business performance management
Skills Covered
On completion of the programme, participants will be able to obtain key learning takeaways i.e:
- Master the interpretation of financial statement
- Identify key financial concerns via variance analysis
- Know how to analyse and evaluate key financial indicators in view to contribute towards improving organisation’s performance
- Understand the concepts, language and basic rules of cost & management accounting for cost control and cost management.
- Equip oneself with knowledge in order to effectively manage a business organization with sound financial management skills.
Prerequisites
There are no prerequisites required to attend this course.
Target Audience
Finance for Non-financial Managers training course is for business owners and managers who need to communicate with stakeholders, investors, funders and banks. It is ideal for anyone who has a basic knowledge already and understands the terminology but needs more financial awareness
Module 1: Introduction to Finance Accounting & Finance Analysis
Building Financial Knowledge:
- Financial Terminology
- Practical understanding of key finance and accounting concepts
(Accruals, provisions, depreciation, prepayment, fair value)
Understanding financial statements
-Types of financial statements: Profit & Loss, Cash Flow, Balance Sheet & its importance
-Evaluation business performance and viability through :
- Profit margins & trends
- Return of Investment (ROI), Gearing & liquidity ratios
- Breakeven Analysis
Golden rules of financial management
- Understanding working capital management
- Managing company inventories & raw materials for enhancing cash liquidity.
- Bonus module: Personal finance management tips and tools
Module 2: Understanding Cost
Introduction
- Cost element classification
- Estimation of costs
- Cost method and structure
- Cost drivers and impact on budget setting and reporting variances
- Cost driver analysis for cost control (manufacturing business setting)
Management reporting : Variance Analysis
- Understanding essentials of variance analysis & how variances are calculated.
- Causes of budget or forecast revenue and cost variances
- Practical exercise in variance interpretation and formulating action plan to bridge the variances
Module 3: Budgeting, Planning & Forecasting
- Explore budgeting, planning & forecasting process and its importance
- Bases of annual operating plan (budget)
- Types of budgets preparation.
- Budget Format & development process
- Accountability: Explore budgetary slack and goal congruence concept
- Examples of budget format preparation
- Top Down vs Bottoms up Concept.
Module 4: Cash Flow Statement & Management
- Ten Tips for Managing Cash Flow for Companies
- Understanding operating cash flow by work capital management
- Working Capital Management definition and its importance in cash flow management
- Understanding Cash Flow Statement Components for forecasting
- Capital Expenditure and Revenue Expenditure Concepts.
Exam & Certification
This course is not associated with any Certification.
Training & Certification Guide
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Get in touch with our team via the form or WhatsApp us on +6011-5119 6631
