Finance for Non-Finance Professional



Introduction

FINXL Finance for non-finance training enables professionals, especially from functional areas other than finance such as sales, marketing, human resource, research and development, production, procurement, Executive, Top Management to gain an extensive working knowledge of critical financial principles in an easy-to-follow manner, enabling them to make critical business decisions involving cost-savings, budgets, new projects decisions, growth strategies and so on. Participants will be able to understand and analyse financial statements as well as grasp the basic fundamentals of finance and accounting.

We specialize in delivering tailored in-house financial awareness training courses.

We deliver financial training courses to office juniors, trainees, managers, senior managers, directors and even chief executive. We can pitch our courses at the right level for you.


    What you'll learn
  • Identify problems in your company
  • Improve performance of your business
  • Understand the economic substance of projects you are engaged in
  • Make well-informed economic decisions
  • Able to weigh benefits against costs
  • Understand the numbers in the financial statements of any company
  • Have more complete picture of your company and its competitors

Learning objectives

    This programme aims to meet the requirements of operating managers who would like to be well versed with the introductory nuances of finance in different functional areas. Deciphering financial concepts and developing the ability to see the business implications of numbers is a key outcome of this programme, which aims to help participants. Learn how to interpret and assess financial statements and understand how business decisions are hinged on the possible financial impact they may have. As global businesses today span geographies, the programme also intends to provide an overview of international financial management.

    By the end of the course all participants will have the following:

  • An understanding of basic financial accounting terms and concepts
  • A greater understanding of accounting and finance systems and the objectives of financial statements
  • Knowledge of frameworks for applying financial analysis to management decision making
  • An understanding of basic financial models, key financial ratios and indicators
  • Basic planning and budgeting skills
  • The confidence and skills to contribute to financial management within their organisation
  • An awareness of the role of finance within the larger organisational structure and its contribution to overall business    strategy
  • A thorough working knowledge of critical financial principles
Pre-Requisites

    Participants attending this training should be familiar with the basic Finance concepts, such as P&L account, Balance sheet, cash flow statements and ratios

Target Audience

    This programme is designed for:

    Managers, senior managers, middle level executives in non-financial positions who need to improve their financial skills in order to make critical business decisions involving cost savings, budgets, new projects, growth strategies, etc. This course can also potentially benefit entrepreneurs who are required to make daily business decisions regarding their companies.

    The programme is appropriate for self-employed professionals such as lawyers, medical practitioners, and non-financial managers across different industries, both in the public and private sector.

Course Details

We select the most relevant content and tailor it to your business.

1. Understand the financial consequences of running a business

Business owners, managers and employees need to have a basic level of financial awareness to help their business succeed.

  • Discover where a business gets its money from
  • Find out what a business does with its money
  • Appreciate the need to record, analyse and summarise business transactions
  • Figure out what the finance department does
  • Identify essential business financial systems
  • Check financial controls are in place
  • Know the difference between financial and management accounting
  • Produce quality management information

2. Get to grips with accounting fundamentals

It’s important to know basic financial terminology and concepts and to be familiar with the main financial statements produced by a business.

  • Make sense of accounting jargon
  • Discover why not to use ‘cash accounting’ and why timing is essential
  • Watch out for hidden accounting costs
  • The basics of debits and credits
  • Discover what all the accounting books are used for
  • Understand balance sheets
  • Understand profit and loss accounts
  • Understand cash flow statements
  • Know who uses the financial statements and why
  • Be aware of accounting regulation and law

3. Know what makes a profit

Profit is one of the most important businesses aspect. Knowing how to make and increase profit is one of the key ingredients for business success.

  • Know the importance of price and its relationship to volume & revenue
  • Realise that not all costs are the same
  • Understand how gross margins work
  • Appreciate the difference between gross and net margins
  • Work out the breakeven point and margin of safety
  • Be aware of tax consequences

4. Manage the cash

“Profit is sanity but cash is reality”. Without cash a business cannot survive for long. Effective cash management will help a business to endure.

  • Understand why cash is king
  • Find out where all the cash has gone
  • Know how to generate cash from stock management
  • Know how to generate cash from customers
  • Know how to generate cash from suppliers
  • Be able to prepare and use a cash flow forecast

5. Prepare and use a financial budget as part of your planning

Many business’s invest considerable time in budgeting but few do it successfully. Some simple and practical tips can improve the process.

  • Know the basics of budgeting
  • Find the principle budget factor
  • Chose the best way to budget
  • Use forecasting techniques to form the budget
  • Watch out for issues when setting budgets
  • Watch out for issues when monitoring budgets
  • Calculate variances from budget
  • Explore alternatives to budgeting

6. Evaluate opportunities financially

Business’s should use established techniques to help decide whether or not to commit time, resource and money on investment opportunities.

  • Only consider the relevant costs for decision making
  • Work out if a business opportunity pays back
  • Calculate return on the investment
  • Understand the time value of money
  • Use established ‘Investment Appraisal’ techniques
  • Build a financially sound business plan

7. Measure the performance of the business

A successful businesses can be judged by the size of its market value. Its performance can be measured by using financial ratios.

  • Understand what constitutes success
  • Analyse return on investment
  • Analyse short term solvency
  • Analyse gearing ratios
  • Analyse measures investor ratios
  • Be aware of the drawbacks of performance measures
Training Cost
  • Training Cost – INR 10,000 + Taxes per day