Course 0050: Finance for Non-Financial Managers (3 days)
Course introduction
This practical three-day course provides a detailed insight into the principles of accounting and financial
management for those with limited prior exposure to these matters. It is an essential course for those in managerial roles in all disciplines, including operations, human resources, project management, sales, marketing or business development.
The course will explain and illustrate key financial concepts and will help demystify terminology in a clear and enjoyable way, leading to improved understanding and enhanced confidence when dealing with financial matters that may be encountered in a manager's role.
Using case studies, examples and real-world financial statements, this course provides a clear, practical understanding of the core principles behind a set of financial statements and of the financial management of a company. It aims to provide a sound grasp of financial terminology and also of concepts that will enable non-financial managers to better understand the non-financial information that they prepare or review, and how this
ultimately impacts on the reported performance of the entity. This interactive course aims to build the confidence of a manager in understanding and using financial information to assess business performance and to identify areas for possible improvement.
The program answers questions such as:
How do I understand the content of a set of financial statements?
What is the difference between cash and profit, and which is more important?
What do the income statement, the balance sheet and statement of cash flows tell us, how are they prepared and how do they interact?
Why doesn’t the balance sheet reflect the market value of an entity?
What techniques should I be using to assess financial performance in my organisation/department, and to benchmark this against my competitors?
Why are financial statements sometimes different between entities?
How is a business financed and is there an optimum funding mix between debt and equity?
Business Basics
Different Business Structures and Their Ownership Business Principles, Objectives and Operation Who Companies Report To
The Difference Between Financial Accounts and Management Accounts The Role of Auditors
Accounting Fundamentals
Different Accounting Frameworks and Why They Exist
The Fundamental Principles Underlying the Preparation of Accounts
The Purpose, Composition and Interaction of the Primary Financial Statements The Accounting Process
The Income Statement Key Accounting Concepts
The Revenue Recognition Dilemma
Expense Recognition (including Capital vs Revenue Expenditure) Understanding and Interpreting Related Disclosure Notes The Balance Sheet
Recognition and Measurement of Key Items Including: Tangible Fixed Assets
Intangible Assets, including Goodwill Financial Investments
Inventories Receivables Leases
Financing Arrangements
Provisions and Contingent Liabilities
Understanding and Interpreting Related Disclosure Notes Cash Flows
Why Cash is Different to Profit
How a Statement of Cash Flows is Put Together How to Interpret a Statement of Cash Flows The Principles of Cash Flow Management Financial Analysis
Key Financial Ratios
Uses and Misuses of Financial Ratios Other Key Performance Indicators Comparing Financial Performance Creative/Inappropriate Accounting
Judgemental Areas
Revenue and Expense Misstatement Over/Undervaluing Assets
Not Recognising Liabilities
Presentation of One-off Gains and Losses Jargon-Busting
Demystifying Accounting Jargon and Terminology Introduction to Financial Planning
The Principles of Budgeting and Forecasting Cost Types and Behaviours
Introduction to Business Finance
Sources of Finance and the Relationship Between Risk and Return Optimising the Funding Mix
What Shareholder Value Means and Why it is Important Investment Appraisal Techniques
Teaching method
Live group instruction and illustrative examples
Review of actual financial statements to illustrate key points
Interactive participation will be encouraged using case studies and examples
All participants will receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials
Prerequisites
Course benefits
Understand key accounting and financial terminology
Understand the purpose and content of the primary financial statements and the accounting principles and rules that underpin their preparation
Learn how to read, understand and interpret the income statement, the balance sheet and statement of cash flows
Appreciate the difference between profit and cash
Apply the use of ratios and financial analysis to understand the financial performance and position of an entity Learn how to identify creative and inappropriate accounting practices
Appreciate the principles of financial planning
Understand different methods of financing a company and their potential risks and benefits
CPE / CPD Accreditation
NASBA
IASeminars is registered with the US National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
Field of study: Accounting
ICAEW Partner in Learning
IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 140,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs.
New York State Board of Public Accountancy
IASeminars is registered with the New York State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 002546. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
Texas State Board of Public Accountancy
IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
