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This course will provide participants with detailed understanding of basic concepts and definitions to enable them read and understand finance related documents and their implications in day-to-day workings.
Finance for non-finance manager’s course is for participants who do not have any finance background or knowledge. This course will provide participants with detailed understanding of basic concepts and definitions to enable them read and understand finance related documents and their implications in day-to-day workings.
If you haven’t yet been trained to prepare a budget, read and analyze financial statements, prepare project feasibility studies, manage costs etc. then this course is for you It is vitally important that managers are able to understand, interpret, and utilize financial information and reports, and can acquire the knowledge and skills to apply financial techniques to financial data, to inform logical and worthwhile decision-making.
The key elements of the course will be:
The role of the Finance Function, in transaction recording and reporting, management control and decision-making, raising finance, internal control and risk management.
The basic principles of financial accounting and reporting, the three main financial statements, and how they are prepared and presented.
Apply capital budgeting techniques and cost-volume-profit analysis to enhance decision making
Management accounting procedures and techniques used in organizations to control operations and inform profitable decision making.
Define the four key financial statements: balance sheet, income statement, cash flow and changes in owner equity as well as key financial terms such as profit, margins and leverage used in organizations.
By attending this ICL training course, delegates will be able to:
Gain a good understanding of financial concepts and terminology
Gain a good understanding of funding and pricing issues
Gain a good understanding of operational budgeting and capital budgeting
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.
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This course is designed for those non-financial staff who have a significant role in ensuring the success of their organization. These could include professionals in the areas of:
All non-financial managers, project managers, program managers
Non-finance professionals from sales, marketing, human resources, operations, investor relations, productions, legal departments etc
Department heads, IT , technical professionals and business consultants
Anyone from both the public and private sectors with an interest in developing their financial knowledge and skills.
The role of management
The financial management cycle
Your Role in the Company Finances
Accounting Terminology
Accounting Terminology
The Balance Sheet
Liabilities and Equity
Profit and Loss Statement (Income Statement)
Cash Flow statement
Financial management failure and success factors
Centralized vs. decentralized financial management
Analyzing various accounting ratios
Budget planning and management
Aligning budgets with management plans
Format of the budget submission
Preparing a budget
Budget and budgeting cycle
Different budgeting processes
Strengths and weaknesses of various budgeting techniques
Cash flow projections
Forecasting
Asset management
Revenue management
Tracking Business Expenses
Using Accounting Software
Ethical issues surrounding accounting
Managing Profit Performance
Comparing Investment Opportunities
Credits vs. Debits
Bookkeeping
Monitoring financial processes and procedures
Variance analysis early warning system
Analysis and interpretation of financial statements
Analyzing income statements and balance sheets
Apply ratio analysis and percentage of financial statements
Advantages and limitations of ratio analysis
Financial reporting and auditing
Overview of the auditing function
The external audit process
Project Finance and Capital Budgeting
Project evaluation from the financial perspective with examples
Understanding the time value of money
Capital budgeting techniques – Payback, Discounted
Payback, NPV, IRR, Modified IRR, Profitability Index
Preparing Financial projections for Project Evaluation & Sensitivity Analysis
Case discussion on Project appraisal.