Finance for Non Finance Managers

Finance for Non Finance Managers

About This Course

An interactive program for all business decision makers who want to develop a better understanding of business finance.
Business Managers who are experts in their own technical or business areas will get the required edge to deliver bottom line results by learning essential financial skills.
• Highly practically oriented
• Includes case studies and examples
• Tailored to the needs of businesses in the GCC

Includes section on how to plan in changing economic circumstances

Career Advancement Areas

• Achieve Financial Leadership in Business
• Improve Business Cash flows
• Set-up effective cost control systems
• Understand the advantages and drawbacks of accounting software and ERPs and how to choose the right ERP for your business.
• Interpret financial information for business decisions
• Understand the audit and legal requirements vis-à-vis your accounting records
• Recognize the tricks and traps in accounting reports
• Know the right questions you should ask your accountant and auditor

What You Will Learn

  • Basic Principles
  • Accounting principles - Financial management concepts - Common jargon
  • Accrual accounting and cash accounting compared - The double entry principle
  • Mechanics of the accounting process - Importance of documentation
  • Why Accounts
  • Information for Strategic, Tactical and Operational Decisions.
  • Shareholders’ / Owners’ objectives - Managers’ objectives - Front line objectives
  • Other External Stakeholders; Government, Banks, Creditors, Debtors etc.
  • Reporting - The making and interpretation of basic financial statements:
  • Balance Sheet, Profit and Loss Account, Cash Flow Statement
  • The basic financial statements: Accounts talk and Simple talk. Preparation explained from the accounting perspective and in layman’s terms.
  • The Revenue Recognition concept
  • Timing differences - the importance of online and complete accounting - analysis of how transactions have a financial impact.
  • Manage Profits and Cash Flow with Optimum Resource Utilization
  • Basics of good financial management to prevent problems
  • The importance of cash “Cash is the lifeblood of Business”
  • Difference between Cash Flow and Profit - The Cash / Working Capital cycle
  • Effective Working Capital Management: Inventory, Receivables etc.
  • Property and Equipment acquisition - Expansion planning.
  • Management Accounting: Understanding Costs
  • Financial and Management Accounting Compared
  • Costing and its uses the meaning of “Over-heads”
  • Costing Methods: Job, Absorption, Marginal, Standard, Activity Based
  • Break even analysis - Economic Order Quantity
  • Cost of Capital
  • Pricing decisions: Margins, Mark-ups, discount schemes, credit limits
  • Cost Cutting, Cost Control, Cost Optimization.
  • Budgeting: The Truth
  • What is a Budget? - Overview of the Planning Process
  • Strategic Aims - Key Performance Indicators
  • Variance Analysis - Rolling Budgets.
  • Leverage Analysis and ways of granting secure credit
  • Helping your company achieve optimum return on investment
  • Some methods to secure payment - How banks guarantee payment
  • Understand how credit worthy an organization is

Instructions

Prerequisites
Managerial Work Experience
Duration
14 Hours
Who Should Register?
  • General Manager
  • Managing Director
  • Operations Manager
  • Sales Manager
  • CEO
  • Purchase Manager
  • Human Resource Manager
  • All non-finance professionals who aspire to build strategic financial skills to explore new dimensions in business management

Overview

Navigate Consulting
Course Type:
Certified Training Course
Study Mode:
Classroom
Location:
Radisson Blu Hotel Dubai Deira Creek
Fees:
4,000 AED
Certification:
Certificate attested by KHDA
Date:
21/05/17


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