A manager’s performance is measured by how effectively they oversee departmental budgets. To succeed as a non-financial manager, knowledge of basic financial principles and the budgeting process is critical.

This 3-day course transforms financial and accounting concepts into decision-making tools you can use successfully every day. You will learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial performance of business activities.

You will understand the terminology used by accounts and finance staff and will feel more confident when involved with them. The course will help you do your job better and help prepare you for senior management, where financial awareness is crucial.

Learning Outcomes:

• Integrate financial concepts and policies into the management decision and budgeting process
• Evaluate the meaning of profit and loss accounts and balance sheets
• Use ratio analysis and interpretation of key performance indicators
• Understand terminology such as ‘gearing’ and ‘return on capital employed’
• Employ cash flow analysis to assess business status
• Calculate the cost of business activities and price effectively
• Use tools such as break-even analysis
• Manage working capital
• Control business operations through effective budget management

Course Outline:

• Importance of finance
  • Financial jargon.
  • Accounting principles
  • Accountability and responsibility for financial information
• Understanding the profit and loss account
  • Profit, operating and capital expense items
  • Measuring profit and business success analyzing the balance sheet
  • Evaluating the worth of an established business
  • Fixed and current assets and liabilities
  • Linking the profit and loss account to the balance sheet
  • Shareholder equity
• Cash flow
  • Cash flow, profit, and net worth
  • Connecting cash management to line management
  • Maximizing benefits and minimizing costs
  • Generating unique information from cash flow statements

Who should attend this course?

Non-financial managers and anyone who wants to develop their knowledge of financial practices to improve their managerial skills. Delegates should, ideally, have 3-5 years of business experience, have budget responsibility and be involved with those who hold financial control in their organizations. Working knowledge of Microsoft Excel is essential.