About the course
The course is designed to assist managers with no financial management background to understand the financial implications of managerial decisions. It will enable participants to participate meaningfully in managerial processes such as budgeting, costing, pricing, working capital management and the analyses of financial statements. Such competencies are particularly important in entrepreneurial organisations, which might not have access to specialised financial management capabilities. Since financial performance is a central indicator of effectiveness for any business, the fundamental financial literacy offered through this course is a compelling requirement for managers at all levels.
Upon successful completion of this course, the participants will be able to do the following in the context of the targeted organisation(s):
Demonstrate an understanding of key factors influencing production cost. Select and apply relevant tools for efficient product pricing. Effectively apply key principles of managing cash flow and working capital. Perform basic analysis of financial statements for improved decision-making. Demonstrate critical insights into the financial implications of major decisions within assigned authority.
The following topics constitute the core content of this course:
- The nature and importance of financial management
- Business and accounting cycles
- Financial planning and control – Budgeting
- Management of working capital and cash flows
- Pricing strategies and decisions
- Analysis and interpretation of financial statements