Finance For Non Finance Managers- Finance For Non Finance

Introduction

• All managers need to understand finance if they are to play an active role in helping their organization achieve its objectives. Not all managers need the same level of skill and understanding as specialist financial managers, but a good knowledge of the key concepts of prudent financial management - such as modern financial accounting - should equip non-financial managers with the knowledge they require. The Finance for Non-Financial Managers qualification is designed to provide both employers and employees with independent verification of the financial knowledge of managers who do not directly work within a finance role

Course Overview

• Profit and Loss accounts and how to understand them
• Understanding income & expenditure account whilst analysing the finance flows within your organisation
• Cash and accruals account showing how each is used
• Terminology associated with income and expenditure accounting
• Communicating effectively with finance professionals
• Analysing trends in financial flows and formulating appropriate questions
• Reading balance sheets
• Constructing a cash flow statement

Management Accounts

Course Overview

• The budgeting process
• How budgeting relates to strategic objectives
• Constructing a budget
• Estimating costs and income accurately
• Understanding the past and forecasting the future
• Cost centres and income streams
• Understanding fixed and variable costs
• Using the concepts of break even pricing
• Evaluating opportunity costs

What will I get out of it?

• The course will help you understand your organisation’s finances and how your own budget and expenditure fits in. It will give you an understanding of some basic financial tools as well as some useful spreadsheets to take away. It will help you communicate on equal terms with financial professionals including your treasurer, finance officer or accountants