Finance for non finance managers
To give your managers more confidence and the skills needed to deal with the financial aspects of their business. Enabling more productive communication between them and their financial colleagues.
Managers who have to deal with financial information and make decisions which have a financial impact.
After this programme managers will be able to:
- Recognise common financial terms and relate them to their own business area/decisions
- Interpret the different financial statements and relate them to the key financial and operational performance measures used by the business
- Use business plans as an effective planning and control tool within the business
- Identify how costs behave and use this to better control cost at both a product and operational level
- Relate cost to price and price to value
- Construct robust investment decisions, taking into consideration risk and uncertainty
Day One – Financial Fundamentals
What does financial success look like?
Understanding the financial statements
A session which explains the financial statements and more particularly when we should recognise revenue and costs, how the business records profit and what the difference is between profit and cash.
A session which relates the key financial, operational and corporate measures to the financial statements.
Improving the business
By understanding the links between decisions made and the results produced, the session asks - "What levers can we pull to improve business performance?"
Financial planning and control
A session which illustrates how the financial planning system works and what part managers play in managing the resources of the business.
Day Two – Financial Decision Making
Understanding product costs and pricing
A session which explains how the costs of products build up through the supply chain and explores how these costs relate to selling price and revenue to generate margin.
Cost and volume relationship
A session built on the previous session which demonstrates how costs vary with volume and why is it important to understand this.
Business case for investment
A session which examines what constitutes a robust business case and explains the financial analysis carried out for capital investment.
A short workshop to clarify how and where the learning can be applied in the workplace.