Finance And Business Acumen For Non Finance Managers Course

Finance And Business Acumen For Non Finance Managers: Introduction

At the completion of the course (designed for non finance managers), delegates will understand the role and importance of finance and understand key financial terms. Three important areas of finance covered are Basic Accounting Concepts and Budgets and Financial Reports.

The above skills are then linked into the concept of Business Acumen, which can be correctly defined as business insight, good judgment, intelligence, wisdom or expertise. This aspect of the course, is specifically tailored to provide participants with the big picture in their business (with a focus on Finance). The short way of saying Business Acumen is saying “See the big picture?” Business Acumen is largely, good insight and even better foresight (link into budgets), thus the importance of integrating these concepts into Finance.

The course is unique in that it specifically incorporates business acumen into the concepts of Finance (a key skill needed to enhance any business – government or private).

Finance And Business Acumen For Non Finance Managers: Benefits

Some of the benefits of attending this course include:

  • Gain an excellent understanding of financial principles and terminology.
  • Gain a good understanding of operational budgeting.
  • Understand financial jargon.
  • Network with other specialists.
  • Make yourself more valuable to your business.
  • Improve your business acumen skills (by understanding the key link between finance and business acumen.

Finance for non-financial managers Training Course :Course Outline

Day 1: Basic Accounting

  • Basic Terminology – accounting period, assets, balance sheet, cost of goods sold, equity, expenses, income statement, liabilities, revenue, accounts payable, accounts receivable, depreciation, general ledger, interest, inventory, journals, payroll, trial balance.
  • Accounting methods.
  • Keeping track of transactions.
  • The Balance Sheet: double-entry accounting; types of assets; types of liabilities; equity – owner’s equity.
  • Other financial statements: income statement; cash flow statement; capital statement.
  • Payroll accounting terminology: wages, employee tax witholding (PAYE), salary deferrals, employee benefits, tracking accrued leave, government payroll returns and reports.
  • End of accounting period procedures.

 Day 2: Budgets and Financial reports

  • Commonly used terms.
  • People in finance, jobs in finance.
  • International and national finance accreditors: Gaap, IFRS, IAS.
  • Understanding financial statements.
  • Analysing statements; income ratios; profitability ratios; liquidity ratios; working capital ratios.
  • Bankruptcy ratios; long term analysis ratios; coverage ratios; leverage ratios.
  • Return on investment (ROI).
  • Understanding budgets.
  • Computer ased methods.
  • Advanced forecasting techniques.
  • Managing the budget.
  • Purchasing decisions (eg. payback period, lease or buy, thinking outside the box).

Day 3: Business Acumen Course

Seeing the big picture

  • KPI’s key performance indicators.
  • Risk management strategies.
  • Recognising learning events.
  • You need to know these answers and more – What makes my company money? What were sales last year? etc.
  • Business acumen in finance.
  • Business acumen in management.
  • Critical thinking in business.
  • Key financial levers

Finance for non-financial managers Training Course: Course Duration

3 day/s

Who should attend: Finance for non-financial managers Training Course

  • This course is intended for non-financial managers.
  • This course is important for all non-financial supervisors, task supervisors, program supervisors, department heads, small company owners and
  • Delegates from both the public and private sectors with an interest in establishing or enhancing their skills.
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