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Duration: 2 day(s)
Course Code: FINAN
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Dates
London Centre 29th May 2012 book
London Centre 9th Aug 2012 book
London Centre 5th Nov 2012 book
Normal price:
£950.00+VAT
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Finance for Non Financial Managers

Finance can be an onerous element of the managerial role. However, if you understand the significance of finance to your organisation you will be a more confident decision maker and have an advantage over managers who don’t.

This programme is for you if

you have any form of budget responsibility or any other form of financial accountability. It provides an opportunity for you to discuss, understand, and practise some of the financial skills needed by managers and budget-holders in today’s working environment. The programme includes presentations, exercises and discussions.

On completion of this course you will be able to:

  • Understand the information in the key accounting documents and be able to assess financial performance
  • Analyse the cost structure of an organisation and identify the key cost drivers
  • Construct a budget for your team or department
  • Produce a financial forecast of performance for the coming months
  • Understand how to use your budget to drive performance improvements
  • Build a budget for a project or sales tender
  • Explain the significance of cash flow to a business

Programme Focus

Introduction and Objectives

Accounts

  • Why are accounts needed?
  • Key conventions and rules
  • Financial accounts
  • Management accounts
  • Analysing key financial statements


Analysing the cost structure

  • Different types of cost – fixed, variable
  • Marginal costing
  • Full costing
  • Cost drivers and activity based costing
  • Breakeven and contribution analysis
  • Margin analysis


Forecasting

  • What is it?
  • Forecasting techniques
  • Forecasting accuracy
  • Frequency of forecasting   

 

Budgeting

  • What is the difference between budgets and forecasts?
  • How to build your budget
  • Using your budget to drive performance
  • Project and bid budgeting
  • Introduction to using spreadsheets for budgeting


Management accounts

  • Setting the right performance measures
  • How to read management accounts
  • Using them to control performance


The importance of liquidity

  • Factors affecting cash flow
  • The cash flow cycle
  • Cash flow forecasts
  • What it costs to maintain liquidity


Review of Programme

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Perfect Partners

Other courses which naturally complement this course include: