Finance for Non Financial Managers Training Course

This course is now part of our online training calendar. Book below!

 

Outline

This course is designed to send you back into your businesses confident in your understanding and application of basic financial terms and concepts.

It assumes no prior knowledge and uses everyday terminology to dispel the mists put up by the financial world which perhaps encourage you to believe it is difficult – it isn’t; and what’s more it can be fun!

You will leave with the ability to:

  • Manage working capital and cash flow better
  • Maximise profitability
  • Be able to read financial statements
  • Be able to interpret the figures
  • Understand the jargon used in the financial world and enter with confidence into financial conversations back at work

You are encouraged to contribute to the day from your experience and also ask questions at any time.

Course Content

What keeps the finance team awake at night?

The business model

  • A memorable model of how businesses work financially
  • Sources of capital
  • Gearing and its implications for external perception and taxation
  • Fixed and variable costs
  • Tangible and intangible fixed assets
  • EBIT/DA
  • How to optimise working capital and cash flow – theory followed by action planning on the way that you can influence your business

Profitability

  • A simple model to indicate how to maximise profit
  • Terminology explained:
  • Gross and net profit
  • Contribution
  • Retained profit and what happens if you don’t
  • Margin and breakeven

Understanding published accounts

  • Using the accounts of a well-known company, we will show you how to read profit and loss accounts and the balance sheet
  • We will also look at some of the ratios used to analyse the figures to review performance, followed by a simple activity to enable you to use your new knowledge

Personal preparation

  • Bring with you a copy of the annual report (including the profit and loss accounts [Statement of comprehensive income] and balance sheet) for your company.  Either ask the finance team or go to the investors section on the company’s website
  • Watch the news and listen to what is happening out there – we can explain what is going on
  • Read the financial pages in the press
  • Think about what is being talked about within your business

 


Online Course

Objective:

  • To enable delegates to understand financial language and concepts

  • To be able to use that understanding in their business context through:

    • Contributing constructively in conversations around financial issues

    • Understanding how they may be able to act differently in their work environment to support better financial outcomes

  • To take away the ‘fear factor’ of finance and appreciate that at its heart it is really simple

Structure:

A programme crated to enable delegates to learn while keeping up to date with their work commitments.  It will be in three sections: Two sessions either side of a 90 break for work and lunch. A 60 minute catch up a week later having taken away and acted on their action plans with a further opportunity for questions and feed back.

Key workshop areas:

Session 1 10.30 – 12.30

  • Financial jargon
  • Where does all the money come from – sources of funds
  • Fixed assets, depreciation, EBITDA and other things to be scared of…
  • Working capital – what is it and why does it matter?  Seeing how Covid-19 is impacting this massively
  • A memorable model to tie all of this together – bring your coloured pencils!
  • Action planning – where do you play your part on optimising working capital

Session 2 14.00 – 15.30

  • Another model - this time looking at how we influence profitability
  • What are the different kinds of cost and expenditure and why it matters?
  • Profitability: Net, gross, bottom line, operating, retained, EBIT – let’s sort it all out
  • Action planning – how can you influence this in your organisation
  • Published accounts:  an opportunity to look at a well-known company. I’ve used this company for years and always wondered about one number! What did the press say only last year, where did it all go wrong and what happened?

Session 3 – a week later 09.30 - 10.30

  • A one hour opportunity to ask any further questions once you have started to relate all of this to your business area.
  • Action planning – how is it going?

 

Online Course Details

Duration: 3.5 hours plus follow up Credits: 2.2
Max. Delegates: 12 Member Cost: £335+VAT
  Non-member Cost: £502+VAT

 

Face to Face Course Details

Duration: 1 Day Credits: 2.3
Max. Delegates: 12 Member Cost: £350+VAT
  Non-member Cost: £525+VAT