Finance for Non-Financial Managers

Finance is often regarded with an air of mystery, shrouded in a language of its own. It is however a vital part of business management which supports decision making  Financial information needs to be correctly interpreted.  After attending this course, delegates will appreciate the elements of costs and how to maintain control of them, interpret financial statements and determine how an organisation is performing financially. No prior knowledge of accounts is required.

Key Objectives

After attending this course delegates will understand:

• Appreciating the elements of costs and the concept of break-even
• Forecasts, budgets, profit & loss accounts and balance sheets
• Recognising the value of financial information
• The law concerning preparing & distributing financial statements
• Identifying relevant financial information to inform decision making

Course Outline

• Understanding costs and planning
• Basic financial information (types of cost)
• Concept of break-even
• Cost methodology
• Financial planning, budgeting and forecasting
• Financial Acoounts
• Interpreting balance sheet, profit and cash flow statements
• Calculating and interpreting the main financial indicators
• Contextualising financial information to the work environment (including time value)

Key Benefits

• Clearly understood base-line costs and break even points
• Financially informed decision making
• Financial controls and structured cost control systems
• Knowledge of essential cost managment tools