Finance for Non-Finance Managers
An understanding of finance is a crucial skill required by many managers. Financial data has to be analysed in order to make calculated business decisions. Finance can be made simple and comprehensive. A basic knowledge of finance will also enable one to assess the profitability and financial position of an organisation or department. This programme is aimed at helping managers with little or no knowledge of finance to grasp the basics. It is also simplified to enable fundamental financial concepts to be learnt and remembered well.

Key Benefits

• Learn how to make sense of financial statements
• Learn how to prepare and present an Annual Report
• Understand the difference between financial and management accounting
• Gain knowledge of credit management
• Bring home cost accounting and budgeting techniques
• Learn how to make decisions based on financial data
• Learn how to evaluate a capital project

Course Content

• Introduction to Financial Statements

  - Profit & Loss account, Balance Sheet and Cash Flow Statement

  - Difference between profit and cash flow

  - Accounting concepts and conventions

          - Regulatory need for preparation and presentation of Annual Report

• Analysis and interpretation of financial statements

  - Judging financial health

  - Different bases of comparison

  - Profitability, liquidity, efficiency, gearing

          -Limitations

• Financial and Management Accounting

  - Key differences

  - External reporting versus internal analysis

          - Flexibility and frequency

• Credit management

  - Credit policy - need and contents

  - Credit review, approval, control

          - Monitoring accounts receivables and follow-up actions

• Cost accounting

  - Need to know product cost

  - Target cost, target profit and target selling price

  - Cost classification

          - Treatment of overhead costs

• Budgeting techniques

  - Planning and control process

  - Master budget and flexible budget, financial and operating budgets

  - Overhead budget

          - Variance analysis and identifying corrective actions

• Decision-making

  - Cost-volume-profit analysis

  - Retain or abort, make or buy, accept or reject new orders

          - Limited resources - the best strategy

• Capital project evaluation

  - Importance of capital budgeting

  - Discounted cash flow

          - Various techniques - payback, internal rate of return and net present value

Learning Methodology
Participants will be able to work on case studies based on real-life situations to enable them to apply what they have learnt.

Who Should Attend
Managers who need to apply financial concepts in their area of work or Finance Managers who need to refresh their financial knowledge.

Course Details
Duration: 2 days (14 hrs)
Time: 9am - 5pm
Course Fee: $406.60 (Incl. 7% GST)