Finance for non-Financial Managers
Finance is the language of business and is a simple skill for non-financial managers to learn. Yet, there is more time wasting, misunderstandings and miscommunications around this critical area than any other business discipline. This flexible, active-learning programme is the quickest and most enjoyable way for non-financial managers to speak the language and use the concepts. Financial literacy is a core skill which radically improves effectiveness in all aspects of management: collaborating with others, making smart decisions, communicating with accountants and seeing the “big picture” at meetings.
PrerequisitesNo knowledge of accountancy or finance is presumed, just a desire to cut through the fog of accounting language and use financial awareness to be a better manager.
How it worksThis accelerated learning programme combines expert instructor-led tuition with the support (during and after the course) of our exciting online learning tools.
Specific Learning OutcomesManagers will be able to use the language and perspectives of finance to:
- Understand why finance is called the language of business
- Strengthen their decision making and identify opportunities to generate revenues and cut costs
- Communicate and contribute more effectively to meetings and discussions
- Be more assertive and confident in dealing with the issues and added responsibilities of promotions and/or other changes in role
The Financial Statements- Where finance fits in business - the links between vision, business models and financial models
- The DNA of business (REAL_E)
- The purpose and content of the main financial statements
- The basic "Accounting Equation"
- How the balance sheet tells "the story of the business"
Practice and exercises to develop a sense of awareness of the cause-and-effect relationship between business events and financial statements.
The Language of Business- The "Big Terms" i.e. the crucial bits of jargon you need to talk financial sense
- The concepts, principles and limitations of financial statements
- What financial statements can't tell you about a business
The Team Quiz - to embed the terms and introduce the online glossary and quiz
Linking Business and Finance. The Financial PerspectiveUnderstanding and using financial concepts such as:
• The Financial Perspective and using financial statements as the scorecards of business
• Matching terms
• Asset Utilisation
• Using our "go-to" guide for smart business strategies
Ratios• Levels of Information
• The power of ratios
• A context for using ratios (Learn from the past and shape the future)
• Different perspectives (Investor, Lender and Manager)
• Published vs. management accounts
• The role of stock exchanges and common stock exchange ratios
• Classifying, exploring and improving commonly used ratios
Practice and exercises to embed skills in the interpretation of financial information
FinanceApplied FinanceCredit ControlCredit ManagementDebt collectionFFNFMFinance for non Financial ManagersFinancial ModellingUnderstanding Finance