Finance for Managers

Finance for Managers Introduction More than ever in today's business environment, management decisions made at all levels of an organisation need to be based upon a sound understanding of the financial implications to the business. As a result, all managers and advisory staff involved in these decisions need to be aware of the principles of the financial accounting systems which provide the historical records, performance data and basis for future predictions of the business.

This course provides an introduction to both financial and management accounting principles as well as to budgeting and the interpretation of company accounts. In addition it covers the basis upon which financial cases can be built.

Course Objectives By the end of this level you will be able to:

Understand basic financial terminology and concepts

Navigate the main financial statements; Profit and loss statement and Balance sheet

Establish, calculate and interpret financial key performance indicators

Analyse and challenge financial information

Identify the role of working capital in sound financial management

Appreciate the interdependence of business functions within an organisation

Construct and manage financial budgets

Judge whether it's worthwhile making a financial investment
Introduction to financial accounting terminology and concepts

Financial and Management accounting - what's the difference?

Read and understand a balance sheet

Interpret a profit and loss statement

Assessing the financial health of an organisation

Cost behaviour - the impact of cost behaviour on profitability

Costing techniques used to identify contribution and break-even

Calculating unit cost and profitability and short term decision making

Managing cashflow and the essential role of working capital for business survival

Budgeting - approaches to constructing budgets and forecasts

Monitoring and controlling budgets using variance analysis

Capital investment appraisal techniques for long term decision making

Case study and group projects
Style

The workshop is highly participative and blends practical exercises with presentations and discussions.