Financial Awareness for the Non-Financial Persons

Programme description & objectives

Programme description & objectives Successful profit center managers/revenue generators can be even more productive if they have a clear understanding of the financial and commercial considerations that impact on their business. This course is designed to fill this particular knowledge gap in a global market environment where managers and business owners cannot afford not to have the basics of financial expertise. The program is structured to take a practical and flexible view of financial matters and translates the jargon, conventions, and formats of accounting into simple, easy to understand, language. At the end of the program, delegates are expected to feel comfortable with using financial terminologies and to have a clear understanding of what they mean, and how they impact on the bottom-line of the delegates’ businesses and workplaces. The focus will, therefore, be on the following: - To understand and interpret a basic Balance Sheet - To understand and interpret a basic Profit & Loss Account (Income Statement) - To analyze accounts in order to make effective business decisions - To assess ways of improving working capital - To understand the basics of costing and utilize break-even analysis - To identify pricing strategies and their impact on gross margin and markup - To understand different sources of business finance - To understand different budgeting techniques - To utilize variance analysis to assess budget performance - To apply and assess the merits of the key investment appraisal techniques - To evaluate the importance of non-financial factors affecting investment decisions - A much clearer understanding of the importance of good financial control in your company or organization