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Finance for non-financial Managers – Course Details


Duration
2 days

What is this course about?
This course is designed to demystify finance. It takes a simple approach to explaining clearly what key financial statements mean and how they work. It also aims to show how different financial statements relate to each other and how they affect your actions both as a manager and as part of the business overall.

The course aims to give you a firm understanding of how finance works and the confidence to use your knowledge to make better informed business decisions.

Key topics covered

  1. Accounting and accountants
  2. Understanding the basis of accounting records
  3. Getting to grips with financial statements
  4. Cash flow and cash management
  5. Tips and techniques for planning and budgets
  6. Management accounting – costing methods and their uses
  7. What the figures reveal – understanding and interpreting accounts
  8. An introduction to other key issues


Who would benefit?
The course aims to give you a firm understanding of how finance works and the confidence to use your knowledge to make better informed business decisions.

Objectives
This training programme will:

  • Put you at ease with financial language and techniques
  • Enable you to deal confidently with financial colleagues and bankers
  • Increase your understanding of the functions of your finance and accounting colleagues
  • Radically improve your planning and budgeting skills
  • Enable you to enhance your role in the organisation
  • Make you much more aware of the impact of your decisions on the profitability of your organisation
  • Boost your career development


Key topics covered

1. Accounting and accountants

  • What types of accountant are there?
  • What do they do?
  • Financial accounting
  • Management accounting
  • Treasury function
  • Activities and terms

2. Understanding the basis of accounting records

  • Basis balance sheet and profit & loss accounts
  • Accounting records
  • Assets/ liabilities
  • Income/ expenditure
  • General/ nominal ledgers

3. Getting to grips with financial statements

  • Balance sheet and profit & loss accounts -terminology
  • Accounting concepts – going concern/ accruals/ prudence/ consistency
  • Depreciation
  • EU legislation – format of accounts

4. Cash flow and cash management

  • Working capital – cash cycle
  • Just in time
  • Flow of funds/ cash flow statements
  • Gearing
  • Treasury management
  • Foreign currency and cash management

5. Tips and techniques for planning and budgets

  • Corporate plan – financial
  • Planning the budget
  • The budget cycle
  • Links with company culture
  • Budgeting methods
  • Zero/ priority based budgets
  • Reviewing budgets
  • Responding to the figures
  • The need for an appropriate accounting system

6. Management accounting – costing methods and their uses

  • Cost definitions
  • Full/absorption costing
  • Overheads
  • Overhead allocation or absorption
  • Activity based costing
  • Marginal costing/ break-even – use in planning
  • Costing for control – standard costing

7. What the figures reveal – understanding and interpreting accounts

  • Analytical review (ratio analysis)
  • Return on capital employed
  • Net profit %
  • Asset turnover
  • Fixed assets, debtor, stock turnover
  • Responding to figures

8. An introduction to other key issues

  • Creative accounting
  • Accounting policies/ group situations
  • Intangible assets – brand names
  • Company valuations
  • Fixed assets – leased assets


In-company training

Are you interested in running this course for your team or organisation?

This programme can be delivered on a date of your choice and at a location of your choice, in other words exactly where and when you need it!

From the outset we will provide you with expert advice and you will be assigned your own personal training adviser who will stay with you throughout the process.  Every team is different so we will provide you with a tailored training programme, designed around your team’s needs and focused on your desired outcomes.

All courses are followed up by a full training evaluation report and certificates of learning for each delegate.  For groups of up to 12 delegates per course, our in-company training is a very cost-effective way to develop your people and improve team performance.

Get in touch today for a full quotation to suit your budget.  To discuss your requirements in more detail with one of our friendly advisers please call on 0845 130 5714 or email one of the team at info@contractlawtraining.co.uk.  Alternatively you can complete the short contact form below.

Getting in Touch

If you would like to discuss your financial awareness training requirements with someone on the phone, please call us on 0845 130 5714 and you will be put straight through to one of our friendly advisers who will be pleased to assist you further.

Alternatively if you would prefer you can email us at info@contractlawtraining.co.uk or fill out our simple online contact form below and one of the team will get straight back to you.

If the exact solution does not already exist in our portfolio we will design something specifically for you.

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