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Finance for Non-Finance Managers

Group Virtual and Onsite Training in Sydney

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Finance for Managers Course

This finance course is designed for managers and other professionals who need an understanding of the financial drivers of business. It is suitable for those who require financial management skills and knowledge as part of their role (non-financial managers).

Duration

1 Day

Prerequisites

None

Quick Glance

This course provides an introduction to the concepts underlying external financial accounting and internal management accounting. You will be introduced to the skills necessary to prepare, interpret and analyse financial statements, including balance sheet, profit and loss statements. You will gain an insight into how your business decisions impact the financial reports of your company. We will also cover budgeting, costing and key performance indicators, and clarify the often-misunderstood area of accrual accounting.

Finance for Managers Outline

Financial terminology and concepts

Income and expenses
Assets, liabilities and equity

The basis for accrual accounting

Accrual accounting versus cash accounting
End of period recording of accruals and prepayments

Financial management of assets

Use of depreciation
Difference between depreciation and amortisatio

Financial statements

Interpretation of P&L, Balance Sheet and Cash Flow Statement
Calculation of key financial ratios
Interpretation of the health of a business using financial ratios

Financial forecasting

Use of history, market conditions and the Delphi method
Forecasting for sales, costs and expenses

Budgeting

Budgeting for an organisation
Defining and budgeting or profit centre, cost centres and for projects

Calculating and acting on variances

How to calculate a variance
Correcting for unfavourable variances
Generating an estimate of likely performance compared to the budget

Intended audience

Suitable for managers, team leaders, board members or individuals from a non-financial background who wish to develop their competencies for understanding their organisations’ financial statements and structures.

Course examples will be provided to cater for attendees from all sectors – commercial, not-for-profit and government – indeed the course is designed to meet the needs of anyone who needs to interpret financial data in a work or board setting to assist with their decision-making.

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