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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:
Manchester
Start Date:
Working Days:
Price:
£976.00 +vat
Availability:
Exam:
Residential:
Course ID:
499622

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

Manchester - The Studio

Description:

Situated at the heart of the city, just a hop, skip and jump away from all major transport links.

Location:

The Hive
51 Lever Street
Manchester
Greater Manchester
M1 1FN

 

Directions:

Walking from Piccadilly Station - 10 minutes

On leaving Piccadilly Station via ‘Piccadilly’ exit, turn right, walking down the ramp towards the City centre and Piccadilly Gardens. Follow the path until you see Tesco Express on your left hand side. Cross over Newton Street and take the next turning on the right into Lever Street, continue along crossing Back Piccadilly, Dale Street, Stevenson Square and Faraday Street, the studio is located on your left at 51 The Hive.

Walking from NCP Northern Quarter car park – 3 minutes

To walk to the studio from this car park, leave via the Tib Street exit, turn left and cross into Hilton Street, follow Hilton Street which crosses Oldham Street, then Spear Street becoming Stevenson Square. At Stevenson Square turn left onto Lever Street, the studio at the Hive is located on your left opposite Griffin House. Our entrance is at number 51 The Hive (the 3rd entrance on the left)

Disabled Parking

The closest disabled parking spot is on Port Street which is just around the corner from Lever Street

By Bicycle

Bike racking, changing rooms and showers are located on the ground floor of our Manchester location and are available for the use of studio guests. If you’re arriving by bicycle then please let us know and we will confirm arrangements to you.

By Train

There are two main line stations within walking distance of the studio, Manchester Piccadilly and Manchester Victoria.

By tram

Our closest tram stop is Piccadilly Gardens.

By Car:

From Great Ancoats Street

From the Inner Ring Road (Great Ancoats Street) turn into Newton Street, take the 5th Right onto Hilton Street which becomes Stevenson Square. Turn right onto Lever Street. thestudio is located on your left after approximately 50 metres. Our entrance is at number 51 The Hive (the 3rd entrance on the left)

Parking

Our nearest car park is NCP Northern Quarter; the postcode for this is M4 1LX.   There is no onsite parking at the Hive.

To obtain discounted parking at the NCP car park simply ask for an NCP validation ticket at the studio reception. When you are ready to exit the car park, simply insert your original parking ticket into the payment machines along with the validation ticket to activate the discount. The maximum day rate will be then be reduced to £6.

Our Customers Include