Finance for the Non-Financial Manager

Course overview
Finance and accountancy is called 'the language of business'. This is because the measures of success and failure in business are expressed in financial terms. As a result, people who have a working knowledge of this language are far better placed to take an active role in key business decisions. For those without a background in finance this information can prove difficult to acquire.


This 8 module course will improve your understanding of the way in which the financial dimensions of your business can directly affect the overall commercial operation and financial results of your company. Anyone who deals with financial information on a daily basis but does not have a financial background will benefit.


How does this distance learning programme work and what do you get?

• Eight modules, each requiring between 3 to 4 hours study to be completed as you choose


• The course and its modules start at any time to suit you


• Modules may be downloaded to study on your PC or to print hard copies. (You may also opt to receive them printed-and-bound from us.)


• Each module has self-assessment progress questions and model answers


• The course has an optional on-line multiple choice assessment at the end, with a certificate of completion being awarded

This distance learning course will:

• ENHANCE your understanding of the financial dimensions of your business


• BREAK THROUGH the financial jargon to enable you to speak confidently with your financial colleagues


• INCREASE your confidence when making key decisions based on financial information


• IMPROVE your budgetary control to increase the financial efficiency of your business


• DETAIL key cost accounting techniques to improve your financial control


• IDENTIFY the key financial indicators and practically illustrate how to apply them effectively


• REDUCE the impact that poor cash flow management can have on profitability


• EXPLAIN the key policies, standards and financial concepts and how they operate in practice


• DEMYSTIFY how to cope with overheads and activity-based costing

This course will benefit

• Managers


• Team leaders


• Technical specialists


• Office managers


• Department heads

Course modules
Module 1: demystifying finance

• Introduction


• Interpreting the balance sheet


• The UK and US balance sheet

Module 2: how healthy are we?

• The two key indicators


• Are we in profit? The P&L statement


• What does the P&L reveal about the business?


• US income statement


• A paper profit - but are we solvent? - The cash flow statement


• What can the cash flow statement tell us?

Module 3: the importance of records and systems

• The difference between accounting records and accounting systems


• Systems and procedures


• Classic ledger structure


• Sales system and purchase system


• Wages system


• Audit function

Module 4: concepts, policies and standards

• Why do we need concepts and rules?


• Fundamental concepts in operation


• Accounting policies and standards


• 'Creative accounting'


• Managing your working capital


• Conducting break-even analysis

Module 5: interpreting the accounts

• Ratio analysis


• Profitability ratios


• Asset turnover analysis


• PE's, Footsie, yields and gilts: understanding the financial press


• Bench marking

Module 6: cash budgeting

• Cash flow forecasts


• What is capital expenditure?


• Discounted cash flow techniques and measures


• Sensitivity analysis


• Costing for planning


• Planning and break-even analysis

Module 7: controlling those costs

• Full costing - coping with overheads


• Tackling the problems of overhead allocation


• Activity-based costing


• The volume-cost-profit relationship

Module 8: figures we can believe in?

• The budget


• The operating budget


• Why budget?


• Budget stages explained


• How to budget


• Budget objectives and company culture


• Budget systems and techniques


• Secrets of cash management


• Techniques for effective profit management


• Making a quantum leap: achieving dramatic growth


• Glossary of helpful terms