Course Details

 

Finance & Budgets Made Easy for Non-Financial Managers

This highly informative 2-day course is aimed specifically at all non-financial managers, who require a better practical understanding of business finance. It will provide you with essential knowledge of the financial aspects of your work and equip you with practical skills for enhancing the profitability of your division.

"Very enlightening and easy to understand" - D. Abrahams- Bankfin

"This is a very useful course" - G. Nndwammbi - Exel Pertoleum (Pty) Ltd

"Excellent. I highly recommend this course" - J Brits - Novartis

"Very informative!" - J. Kirsten - Standard Bank of SA Limited

"Good learning experience." - D. Brothers - Knoll Pharmaceuticals

"The facilitator was very good, well spoken, used humour and analogies to facilitate understanding." - Maxted - Fedex

"The facilitator was a joy to listen to. Someone who is able to communicate at any level" - M McGinn - Transnamib Holdings Ltd

 

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Finance & Budgets Made Easy for Non-Financial Managers

The success of a company or division is measured in terms of the bottom-line. As a business manager, you are expected to not only manage the daily operations and staff within your division, but also to achieve profitable business goals and make money for your organisation.

This highly informative 2-day course is aimed specifically at all non-financial managers, who require a better practical understanding of business finance. It will provide you with essential knowledge of the financial aspects of your work and equip you with practical skills for enhancing the profitability of your division.

Course Outline

Introducing the finance basics

  • Understanding the language of finance
  • Assessing financial consequences of your business decisions
  • Identifying your financial management responsibilities

Evaluating costs and profitability

  • Understanding the interaction of margins, volumes and expenses
  • Identifying the difference between product and service costs
  • Distinguishing direct from indirect costs
  • Differentiating between fixed and variable costs
  • Determining break-even and using it to plan for the future
  • Evaluating different approaches to pricing

Identifying the components of financial statements

  • Evaluating assets and liabilities
  • Looking at accruals, suspense accounts and stock accounts
  • What are provisions and how do they work?
  • Understanding depreciation
  • Learning about WIP accounts, deferred accounts and pre-paids

Reading financial statements and understanding what they tell you

  • Interpreting the information contained on - Income statements - Balance sheets - Cash flow statements - Profit & Loss statements
  • Using the information on these statements for sound business decisions

Using financial information to measure and enhance your commercial success

  • Measuring actual company performance with basic trends & ratios
  • Using key performance indicators to detect possible problems
  • Understanding and analysing company results using the pyramid of ratios

Budgeting: simple techniques that work

  • Identifying 4 different ways to budget
  • Avoiding common budgeting pitfalls
  • Learning how to budget sales, expenses and profit correctly
  • Getting your budget approved

Working with and sticking to your budget

  • Accounting for budget variance reports and tracing them to supporting schedules
  • Identifying budget problems early and dealing with budget over-runs
  • Learning how to adapt your business management to budget changes
  • Finding ways to control expenditure

Regulating cashflow / working capital

  • Developing a thorough understanding of working capital
  • Completing precise cashflow forecasts

 

 

 

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