Finance for Non-Finance Professionals

From local charities to FTSE 100 companies, every manager needs to speak the language of finance. Without financial awareness, individuals are limiting the role they can play in attaining their organisation’s objectives.

To operate effectively in a management position within any organisation it is necessary to be confident in using the language of finance and to be comfortable in using financial information. But the jargon associated with finance can be intimidating to the non-specialist.

This course has been designed to give participants the confidence they need to play their role to the full.

Overview

Participants will acquire the knowledge and skills to:

• Confidently use the concepts and language of finance in day- to- day work place discussions
• Read financial reports – including Balance Sheets (Statement of Financial Position) and Profit and Loss Accounts (Income Statement)
• Understand the differing objectives of financial and management accounting – including cash flow forecasts
• Understand the role and importance of budgeting
• Participants will be encouraged to bring their organisations accounts to the course. They will be encouraged to refer to these throughout the course.

Agenda

09:00

Registration & Refreshments

09:15

The Role of Finance – cash and profit the main statutory Financial Statements - Balance Sheet (Statement of Financial Position) and Profit and Loss Account (Income Statement)

11:00

Refreshments

11:15

Financial Terminology – accounts case study – key financial ratios

13:00

Lunch and Networking Break

13:45

Management Accounting v Financial Accounting

Budgeting and forecasting, measuring performance

15:00

Refreshments

15:15

Cost behaviour, costing and pricing

16:15

Summary & Questions

16:30

Course Close

Learning outcomes

• Understand the role they play in their organisations finances
• Understand the uses and limitations of financial information
• Be comfortable in questioning financial information
• Be equipped to play an active role in financial discussions