Finance For Non-Finance Managers

Course details

An interactive program for all business decision makers who want to develop a better understanding of business finance. Business Managers who are experts in their own technical or business areas will get the required edge to deliver bottom line results by learning essential financial skills.

• Highly practical oriented
• Includes case studies and examples
• Tailored to the needs of businesses in the GCC

KEY CONTENTS

Basic Principles

• Accounting principles - Financial management concepts - Common jargon
• Accrual accounting and cash accounting compared - The double entry principle
• Mechanics of the accounting process - Importance of documentation

Why Accounts

• information for Strategic, Tactical and Operational Decisions.
• Shareholders’ / Owners’ objectives - Managers’ objectives - Front line objectives
• Other External Stakeholders; Government, Banks, Creditors, Debtors etc.

Reporting - The making and interpretation of basic financial statements: Balance Sheet, Profit and Loss Account, Cash Flow Statement

• The basic financial statements: Accounts talk and Simple talk. Preparation explained
• from the accounting perspective and in layman’s terms.
• The Revenue Recognition concept
• Timing differences - the importance of online and complete accounting - analysis of
• how transactions have a financial impact.

Manage Profits and Cash Flow with Optimum Resource Utilisation

• Basics of good financial management to prevent problems
• The importance of cash “Cash is the lifeblood of Business”
• Difference between Cash Flow and Profit - The Cash / Working Capital cycle
• Effective Working Capital Management : Inventory, Receivables etc.
• Property and Equipment acquisition - Expansion planning.

Management Accounting: Understanding Costs

• Financial and Management Accounting Compared
• Costing and its uses the meaning of “Over-heads”
• Costing Methods: Job, Absorption, Marginal, Standard, Activity Based
• Break even analysis - Economic Order Quantity
• Cost of Capital
• Pricing decisions: Margins, Mark-ups, discount schemes, credit limits
• Cost Cutting, Cost Control, Cost Optimisation.

Budgeting: The Truth

• What is a Budget? - Overview of the Planning Process
• Strategic Aims - Key Performance Indicators
• Variance Analysis - Rolling Budgets.

Leverage Analysis and ways of granting secure credit

• Helping your company achieve optimum return on investment
• Some methods to secure payment - How banks guarantee payment
• Understand how credit worthy an organization is

WHO SHOULD ATTEND

All non-financial executives who aspire to build strategic financial skills to explore new dimensions of business management