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Finance for Non-Financial Managers

Course Details

Name Finance for Non-Financial Managers
DescriptionThis two-day overview course untangles the web of mystery that surrounds financial and management accounting in the eyes of many non-financial managers. By so doing it enables them to understand and manage the impact of their decisions on business results, interact more productively with their finance-based colleagues and exert greater influence on decision making in their organisation.   This course is suitable for managers who want to gain a clear understanding of the fundamentals of business finance and the financial implications of decisions they make.   By the end of this course you will be able to: Understand how your day-to-day decisions impact profit and cashflow. De-mystify the rules of capital expenditure vs operational expenditure helping you to justify investments to your senior managers and finance team Review financial information relating to: your business (helping you to set targets for improvement) your subsidiaries (helping you to manage and set targets for your team) existing customers (are they still viable?) and potential customers (are they a credit risk?) competitors (what can we learn from benchmarking their results?) Manage the budgeting process to: ensure business strategy is implemented negotiate funding for improvement or efficiency initiatives win in the negotiation over funds allocated to your budget, ensuring it’s achievable manage financial performance, understanding variances and taking action to achieve your budget and objectives Simply assess the viability of entering new markets or developing new products
URL
Location:
London - West
Start Date:
Working Days:
Price:
£976.00 +vat
Availability:
Exam:
Residential:
Course ID:
492132

Overview

Straightforward and no-nonsense, this course enables you to get straight to the heart of financial issues, demystifies financial information and gives you confidence and control when making financial decisions.

This two-day overview course has won praise for the straightforward way in which it untangles the web of mystery that surrounds financial and management accounting in the eyes of many non-financial managers. By so doing it enables them to understand and manage the impact of their decisions on business results, interact more productively with their finance-based colleagues and exert greater influence on decision making in their organisation.

Target Audience:

Suitable for managers who want to gain a clear understanding of the fundamentals of business finance and the financial implications of decisions they make.

If you've already attended this course and are looking to progress to a more strategic course then you may wish to consider Advanced Finance for Senior Managers and Directors.

Learning Objectives

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

  • Understand how your day-to-day decisions impact profit and cash flow.
  • Demystify the rules of capital expenditure vs operational expenditure helping you to justify investments to your senior managers and finance team.
  • Review financial information relating to:
    • your business (helping you to set targets for improvement)
    • your subsidiaries (helping you to manage and set targets for your team)
    • existing customers (are they still viable?) and potential customers (are they a credit risk?)
    • competitors (what can we learn from benchmarking their results?)
  • Manage the budgeting process to:
    • ensure business strategy is implemented
    • negotiate funding for improvement or efficiency initiatives
    • win in the negotiation over funds allocated to your budget, ensuring it’s achievable
    • manage financial performance, understanding variances and taking action to achieve your budget and objectives
  • Simply assess the viability of entering new markets or developing new products.

Pre-Requisites

None

Course Content

The Nature and Purpose of Accounting

  • A simple model of an organisation’s accounting framework
  • Who uses the accounts and what do they use them for?
  • Where can I find out about my organisation’s/my competitors’ financial position?

Profit and Loss Accounts, Balance Sheets and Cash Flow Statements

  • Their structure and terminology, what they tell us and why they need to be reviewed together to gain a full understanding of business performance
  • Using financial information as a management tool
  • Understanding how operational income and costs are accounted for and the implications for how you manage costs in your department

Managing Finance

  • Understanding working capital: What is it? How can we manage it?
  • Why too much working capital is bad for you and too little may be disastrous
  • Optimising working capital for your organisation and the implications for negotiating with customers and suppliers
  • The distinction between profit and cash flow
  • Considering sources of funding

Understanding Management Accounting Including Budgeting

  • Putting together a robust budget
  • Negotiating budget funding
  • Assessing variances and reforecasting the budget
  • Evaluating feasibility of operational projects via break-even analysis
  • The effects of depreciation

Personal Development

  • Formulating an action plan

London - Grosvenor Place SW1

Description:

Image result for 13 Grosvenor Place, London, SW1X 7HH.

Situated on Grosvenor Place, in the heart of London, our training spaces are fully equipped and spacious. 

We have spent considerable time researching what makes for the most rewarding learning experience and it shows in our facility: 

  • high definition AV with multiple points of display
  • ‘personalised desks’ that are moveable & height-adjustable
  • ‘fun zones’ with kinaesthetic learning toys
  • tablet-led or BYOD (bring your own device) supported course designs
  • continual refreshments & catering services
  • complimentary high-speed WiFi access
  • easily configurable room layouts, suitable for any learning or networking event

Plus, our state-of-the-art venue is easily accessible from mainline rail stations, with Victoria and Hyde Park Corner underground stations only a few minutes' walk away

Location:

13 Grosvenor Place
Hyde Park
London
SW1X 7HH

 

Directions:


The building is situated on the west side of Grosvenor Place, close to the junction of Chapel Street. Victoria BR mainline station is a short walk away, providing good access to the south east and Gatwick Airport. Opposite Victoria BR mainline station
is the Tube that serves the Circle, District and Victoria lines. Hyde Park Corner (Piccadilly Line) is the closest Tube station.
TFL buses go in both directions and the following services have stops close to 13 Grosvenor Place: 2, 8, 16, 36, 38, 52, 73, 82, 148 and 436. The closest car park to Grosvenor Place is situated at Hyde Park Corner or alternatively there is another
car park situated at Wilton Place.

For security and safety reasons, please ensure you check in immediately on arrival

Heathrow Airport: 16 miles
Gatwick Airport: 28 miles
Stansted Airport: 40 miles
London City Airport: 10 miles
Waterloo Mainline Station:2.5miles
Paddington Station: 2 miles
Victoria Bus/Train Station: 1 mile
Charing Cross Mainline Station:1.5 miles
Euston Mainline Station: 3 miles
Kings Cross Mainline Station:3.5 miles

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