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Finance for Non-Financial Managers

Course Details

Name Finance for Non-Financial Managers
DescriptionThe course focuses on the understanding of the financial implications of your day-to-day decisions and how to increase the profitability and performance of your business. It is suitable for all levels of individual who wish to improve their understanding of finance concepts. By the end of the course you will be able to: understand financial jargon understand the financial drivers of business and the impact of decisions on the financial performance of the organisation interpret financial statements support business decisions through information gained from applying costing techniques identify best practice for creating, managing and reviewing budgets understand the importance of cash to an organisation and how to effectively manage and predict cash flow build a compelling business case and financially justify it using a range of techniques earn about the key techniques within management accounting, specifically costing, cash flow and budgeting, and how they are used to forecast performance and support decision-making describe the key elements of a business case and understand the methods of financial justification.
URL
Location:
Birmingham
Start Date:
Working Days:
Price:
£749.00 +vat
Availability:
Exam:
Residential:
Course ID:
457715

Overview

In a recent Ernst and Young Survey of 669 UK/European companies, 65% stated that the main business priority was ‘managing costs’; closely followed by ‘improving financial controls’ (57%).

Common concerns we hear include:

  •   I don’t understand the financial jargon
  •   How can I get a better understanding of financial terms and principles?
  •   How can I better understand how finance works in my organisation?
  •   How can I feel more in control of the financial aspects of my role?

Managers today are increasingly expected to understand and manage the finances in their area and often participate in financial decisions such as business cases and budget reviews. However Finance, like most professions, has its own jargon and terminology together with some processes and principles which often seem at odds to how we would manage our personal finances. This makes it confusing for non-finance people to understand how finance operates within organisations and prevents them from engaging in financial discussions and activities.

This course is designed to ‘de-mystify’ the world of finance and provide you with the confidence and competence to engage in financial activities in a way which demonstrates an understanding of the way finance is measured, the documents and statements which communicate it and the business conditions which drive financial decisions.

This course is for all non-financial managers, as well as people in other roles, who want to develop a better understanding of how finance operates in their and other organisations, for example to:

  • ‘Talk finance’ with finance specialists, finance teams and the CFO
  •   Better understand the costs and finance of your team and organisation
  •   Better understand financial reports and statements
  •   Manage a budget with greater understanding
  •   Prepare better business cases and carry out investment appraisal
  •   Make better decisions, informed by the figures

Learning Objectives

By the end of the course you will be able to:                    

  •   Identify the role and importance of Finance within organisations
  •   Recognise and describe some of the common terms and jargon that are used
  •   Identify the elements of the Profit and Loss Account and Balance Sheet
  •   Find out about the tools that are used by the external market to judge organisations
  •   State the key distinction between profit and cash
  •   Recognise how organisations identify the drivers of their financial performance
  •   Learn about the key techniques within management accounting, specifically costing, cash flow and budgeting, and how they are used to forecast performance and support decision-making

Pre-Requisites

Delegates should come with a clear idea of how they want to use their financial knowledge back in the workplace and with copies of any documents they regularly use, for reference and discussion.

Course Content

Day 1:

  •   Welcome and Introductions
  •   Financial Principles and Terminology  
    •     Financial principles – how finance works in organisations
    •     Terminology – making sense of the language
    •     Business cycles – Operational and Capital Investment
    •     Financial statements - Income and Expenditure (P&L) and Balance sheets
  •   Financial Ratios – measuring financial performance  
    •     Liquidity
    •     Performance and profitability
    •     Investment
    •     Productivity
  •   Cash and Cash Flow  
    •     Distinction between profit and cash
    •     Cash flow statement
    •     Cash flow forecasting

Day 2:

  •   Understanding costs  
    •     Importance of managing costs
    •     Fixed vs variable
    •     Direct and Indirect
    •     Breakeven
  •   Budget awareness  
    •     Types of budget
    •     Organisation’s budgeting process
    •     Reviewing budgets
  •   Business Case and Investment Appraisal  
    •     Purpose and content
    •     Financial justification including payback, payback period, NPV and IRR
  •   Review, Action Planning and Close

Birmingham - Hill Street

Description:

Centre City Tower

  • Easy access from main travel routes
  • Spacious, comfortable air-conditioned classrooms
  • Drinks and snacks available
  • Internet access
  • Choice of hotels and accommodation available nearby
  • Compliance with Disability Discrimination Act (DDA) building access requirements.

Location:

10th Floor
Centre City Tower
5-7 Hill Street
Birmingham
B5 4UA

 

Directions:

This Birmingham Training Centre is situated in the centre of Birmingham, close to New Street Station and Shopping Centre. The entrance is on Hill Street.


Travelling by Rail:

From Birmingham New Street Train Station:
From New Street Station turn right into Smallbrook Queensway and take the second right into Hill Street. The offices are on the right.


Travelling by Car:

Parking - A number of NCP car parks are within easy walking distance.


From M1/M6 North and South/M40 and M42 - Leave the M6 at Junction 6 onto the A38(M) Aston Expressway signposted Birmingham Central. Follow signs for City Centre until end of motorway then keep right onto flyover - signposted A38 Bromsgrove. Continue following A38 Bromsgrove signs under two underpasses. Take exit onto Suffolk Street (past the Alexandra Theatre) to Holloway Head island. Take first exit onto Smallbrook Queensway signposted Stratford A34 and Solihull A41. After 100m, immediately after the Holiday Inn, take the first left at traffic lights into Hill Street. Centre City Tower is on the right

 

From M5 - Leave motorway at Junction 3. Take third exit (A456) signposted City Centre. Follow City Centre signs for five miles along the Hagley Road to Five Ways. Keep left (ignore City Centre underpass sign and follow Other Routes) up to Five Ways Roundabout. Take third exit signposted Inner Ring Road South and East and New Street Station. Bear left onto B4127, following signs for New Street Station, past sports ground to first roundabout (Holloway Circus). Go straight over roundabout onto Smallbrook Queensway. After 100m, immediately after the Holiday Inn, lights into Hill Street. Centre City Tower is on the right.

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