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Course Topics

Finance for Non Financial Managers

Course Overview

In challenging times, the approach to Finance is even more important than before, with the flatter management structures that operate within business today it is important both for short term success and longer term promotion that operational and even first line managers work in a strategic manner.

There are increasing pressures to implement effective systems, policies and procedures that deliver results and excellent services. At its simplest level thought needs to be given to forward planning, team development and staff succession planning. All members of an organisation should have key elements of knowledge in finance in order to make the right decisions.

Whilst more advanced financial planning may include cascading business development targets to team members and linking these to appraisals and performance reviews to financial decision making and incentivisation of key personnel.

This workshop explores the typical roles and responsibilities of operational and first line managers and considers how, where and when a more strategic financial and forward thinking management style delivers improved team and personal performance across the short, medium and longer terms.

In doing so the workshop also helps to prepare participants for, and increase their chances of internal promotion and progression.

Who will benefit from attending this Training?

This intensive programme designed for all levels novice or operational and first line managers, through senior management who want a refresher in finance, or management who have responsibility for team performance and are looking to adopt a more strategic and financial based style to decision making.

This orkshop is likely to be of special interest to managers, experienced or first time that are non-financial based in their management approach. The workshop may also be of interest to experienced managers, trainers and staff development professionals who are tasked with training, mentoring and/or supporting operational and non-strategic managers in progressing to more senior roles.

Course Content
 
 Accounting and the Law
  • Accounting principles & policies (GAAP)
  • Terminology & Jargon

. The Three Key Financial Statements

  • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
  • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors

 Revenue and Capital Expenditure

  • What are Capital and Revenue Expenditure
  • Budgetary considerations
  • Phasing of capital spend and its Implications for budget holders

 Depreciation; Assets and liabilities

  • What is Depreciation?
  • The Different types and uses

 Costing

  • Cost types & behaviours and their Impact on decisions
  • Direct and Indirect Costs: fixed, Mixed and variable costs
  • How costs are determined and predicting profit
  • How the cost structure can affect planning and decision making
  • Charging department expenditure to the correct period - accruals, prepayments and depreciation
  • Standard, actual costing and Activity Based Costing (ABC)

Preparing the Business Estimates

  • The purpose of forecasts for the business
  • The limiting factors
  • Break-even analysis
  • How to predict sale revenues - different approaches

 Budget and Allocation

  • Departmental objectives, Budget acceptance
  • Cascade objectives
  • Historic v zero based budgeting methods
  • Limiting budget factor
  • Budgetary Control - use as a management tool
  • Variance analysis & Forecasting
  • Debtors and Creditors Budgets - What are they? How are they constructed?

 Using Ratios to Support Investment Decisions

  • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
  • Investment decisions and Return on Investment (ROI); Cost of capital
  • Gearing – is the level of borrowing satisfactory?
  • Liquidity – could the company be in financial difficulty?
  • Profitability – how well is the company doing?
Personal Development
  • Action planning - the essential next steps
  • Continuous professional development - what next?
By the end of this course you will be able to:
  • Appreciate the importance of the legal process to finance.
  • Understand profit & loss accounts, balance sheets, cash flow statements and operating budgets.
  • Distinguish between different cost systems and know how to apply this knowledge to get results.
  • Understand all elements of the budgeting process and budget successfully.
  • Develop strategies for controlling spends in line with budget forecast.
  • Be able to use break-even analysis.
  • Analyse and interpret financial statements.
  • Make correct investment decisions.
  • Source finance (find the right amount of money from the right place at the right time.)
  • Make correct acquisition and purchasing decisions
  • Appreciate and make the right financial decisions for yourself and your company’s future.
Training Methodology

The training process is based on a carefully planned mix of succinct tutor input - with practical illustration of tools and concepts, group work on case studies (all video based - and lively), feedback, and selective work on individual issues in pairs. Team involvement and working enable a strategy to be created from start to finish. The Training is based on the 4 mat systems to enable complete learning. There will also be some opportunity for role play. You will receive an electronic toolkit within the material for subsequent everyday use.

The Facilitator

The Facilitator has 30 plus years in Financial roles in over 60 countries with Cross functional industry experience in this subject area in the UK and globally

Follow On Courses
We can come to you !

Did you know Synergy can come to you and deliver this workshop ‘In Company’ at your own venue or location. If you have three or more people who you would like to benefit from attending this workshop our trainer can travel to you and deliver the same specification of course for your staff at a fraction of the overall cost.

If you’d like to know more about this option please contact us on 0121 605 7533 or email us at operations@groupsynergy.co.uk – our operations team manages all of our ‘In Company’ events and we can talk you though the logistics, pricing and whether you’d like the workshop as advertised here or something tailor made just for your business.

We have several packages on offer so contact us today.

What is Continuing Professional Development (CPD)?

Continuing Professional Development (CPD) is a personal commitment to keeping your professional knowledge up to date, improving your capabilities, proving commitment and competency in your profession. It focuses on what you learn and how you progress throughout your career, helping you gain more credibility within your industry, with your employer, clients and gain competitive edge over your peers.

Being actively committed to CPD may in the future:
  • Improve your Resume
  • Maintain professional recognition
  • Showcase your achievements, attributes and your brand
  • Accelerate your career prospects
  • Deliver job satisfaction: ensuring you are Career focused
  • Reassure your Employers and Stakeholders that you are upto date and competent
How do I gain CPD recognition

By attending Synergy Courses you can be assured that attendance, completion and certification will be rewarded by CPD points. To help advance your professional status CPD recognition is awarded on both public workshops and in-house courses, being dependent on the number of hours spent learning. On request Synergy Training Group will provide a certificate of attendance for you to use as evidence and to attach to your record card.

A number of our courses are accredited, endorsed or approved by a number of Learning & Development and Professional Bodies and Associations for more detail please contact us at mail@groupsynergy.co.uk.

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