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Finance for Non-Financial Managers

Managers today are increasingly expected to understand and manage the finances in their area and often participate in financial decisions such as business cases and budget reviews. However Finance, like most professions, has its own jargon and terminology together with some processes and principles which often seem at odds with how we would manage our personal finances. This makes it confusing for non-finance people to understand how finance operates within organisations and prevents them from engaging in financial discussions and activities.

Common concerns we hear include:

I don’t understand the financial jargon
How can I get a better understanding of financial terms and principles?
How can I better understand how finance works in my organisation?
How can I feel more in control of the financial aspects of my role?
This course is designed to ‘de-mystify’ the world of finance and provide you with the confidence and competence to engage in financial activities in a way which demonstrates an understanding of the way finance is measured, the documents and statements which communicate it and the business conditions which drive financial decisions.

Target Audience

This course is for all non-financial managers, as well as people in other roles, who want to develop a better understanding of how finance operates in their and other organisations, for example to:

‘Talk finance’ with finance specialists, finance teams and the CFO
Better understand the costs and finance of your team and organisation
Better understand financial reports and statements
Manage a budget with greater understanding
Prepare better business cases and carry out investment appraisal
Make better decisions, informed by the figures

Prerequisites

Delegates should come with a clear idea of how they want to use their financial knowledge back in the workplace and with copies of any documents they regularly use, for reference and discussion.

Learning Outcomes

Identify the role and importance of Finance within organisations
Recognise and describe some of the common terms and jargon that are used
Identify the elements of the Profit and Loss Account and Balance Sheet
Find out about the tools that are used by the external market to judge organisations
State the key distinction between profit and cash
Recognise how organisations identify the drivers of their financial performance
Learn about the key techniques within management accounting, specifically costing, cash flow and budgeting, and how they are used to forecast performance and support decision-making


  • Course content

    Day 1:

    Welcome and Introductions
    Financial Principles and Terminology
    Financial principles – how finance works in organisations
    Terminology – making sense of the language
    Business cycles – Operational and Capital Investment
    Financial statements – Income and Expenditure (P&L) and Balance sheets
    Financial Ratios – measuring financial performance
    Liquidity
    Performance and profitability
    Investment
    Productivity
    Distinction between profit and cash
    Cash flow statement
    Cash flow forecasting
    Cash and Cash Flow

    Day 2:

    Understanding costs
    Importance of managing costs
    Fixed vs variable
    Direct and Indirect
    Breakeven
    Budget awareness
    Types of budget
    Organisation’s budgeting process
    Reviewing budgets
    Purpose and content
    Financial justification including payback, payback period, NPV and IRR
    Business Case and Investment Appraisal
    Review, Action Planning and Close

Duration: 2 days
Price: £1295 + VAT

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