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Finance for Non-Finance Managers

Course Description & Learning Objectives

The primary objective of the course is to provide participants with the financial insights needed to be an effective manager. The knowledge of Finance for non-financial managers is needed in today's competitive world. With the help of this program the executives will be able to understand the techniques of corporate finance.

Objectives

  1. Understand financial and managerial accounting terminology
  2. Evaluate financial performance
  3. Measure the cost and profitability of a product or service
  4. Learn how costing systems are linked to corporate strategy
  5. Measure opportunity and capacity costs
  6. Evaluate key business decisions, such as outsourcing
  7. Prepare and use budgets
  8. Organize and evaluate the performance of corporate units
  9. Forecast financial performance and capital requirements
  10. Evaluate capital expenditure proposals
  11. Relate business strategy to external financial reporting

Course Content

  1. The Importance of Accounts
    - Why Are Accounts Needed? • Who Needs Accounts?
  2. Managing Money
    - Where Did the Money Come From? • Where Did the Money Go To?
  3. Accounting for Business
    - Three Prime Accounting Questions • How Are We Doing? • How Did We Do? • How Are We Going to Do? • Published Accounts
  4. Balance Sheets
    - Typical Layout of A Balance Sheet • Fixed Assets • Current Assets • Creditors (Due Within One Year) • Creditors (Due After More Than One Year) • Net Current Assets • Share Capital • Reserves
  5. Profit and Loss Account
    - Revenue/Sales Income • Cost of Goods Sold • Gross Profit • Overheads • Depreciation • Profit before Interest and Tax/Operating Profit • Interest Earned and Interest Paid • Profit Before Tax • Taxation • Profit After Tax • Dividends • Retained Profit • Typical Layout of a Profit and Loss Account • Cash Flow
  6. The Importance of Liquidity (Cash)
    - What is Liquidity? • Factors Affecting Cash Flow • What it Costs to Maintain Liquidity • Cash Flow Forecasts • Short-Term Cash Flow Forecasting • Long-Term Cash Flow Forecasts (1 To 5 Years) • Forecasts and Budgets
  7. Costs
    - Fixed Costs • Variable Costs • Semi-Variable Costs (Or Indirect Overheads) • Total Costs • Other Types of Cost • Opportunity Costs • Transaction Costs • Volume • Summary
  8. Budgets
    - What is a Budget? • Budgets - Discussion • Plans into Action • Feedback • Over/Under Budgeting
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