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Successful Manager
Informative Interview

Finance for Non-Financial Managers

Increasingly, managers at all levels within an organisation need a full grounding in financial and accounting practices.

 

Sound commercial decision-making skills are built on an understanding of data and what numbers tell us. Operational responsibility for developing business requires managers to analyse finance opportunities and costs on the basis of empirical evidence rather than a gut feel.

 

This course seeks to demystify the fundamentals of financial management and provide a grounding for managers in commercial awareness.

Guidance & Inspiration

Who's it for?

Anyone in a management position who has responsibility for developing commercial models, forecasting and reporting financial targets or reports.

Indicative Duration: 2 days

Learning Objectives

By the end of this programme, participants will be able to:

  • Create a sound and evidence based commercial model for their business

  • Take informed decisions on investment based on evidence from historical financial data

  • Forecast business growth accurately by taking both revenue and costs into consideration

  • Foresee potential variances and manage expectations

  • Identify and develop existing and potential customers to maximise profitability in line with the business strategy

  • Adopt techniques to enhance cash flow and credit control

  • Analyse a balance sheet

  • Create and manage a profit and loss account

  • Identify and manage risk in the financial performance of the company

Learning Content

  • Definitions and expectations of accounting – financial and management accounting

  • Budgeting and business planning

  • Forecasting – firm, identified and unidentified revenue

  • Break even analysis

  • Risk analysis

  • Managing and explaining variances – re-forecasting

  • Cost management – variable and fixed costs/direct and indirect costs

  • Key financial indicators and ratios and how to use them to manage your business

  • The importance of cash flow – “the life blood” of your business

  • Balance sheets

  • Profit and loss accounts – operating and net profit/loss

  • Creating financial reports

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