Finance for Non-Financials
- Understand the financial and accounting terms used in business.
- Develop skills in financial literacy.
- Understand the main financial statements and how to be used to monitor and control business performance.
- Understand the financial language, asking relevant financial questions, and making business decisions using financial criteria.
- Highlight the need for good budget construction and the basic techniques for budgetary control.
- Develop operating budgets
- Understand how cash budgeting can affect motivation and control
Who Can Benefit
- Non-financial managers and anyone from non-financial disciplines who needs to know more about business finance terminology.
- Finance and Accounting
- The World of Finance and Accounting.
- Why Do We Have Accounting Systems?
- The Goal of Good Management is to Create Value
- The Three Management Functions
- Financial vs. Managerial Accounting
- New Management Trends to Create Value
- What is Profit?
- Definition and Importance of Profit.
- How much profit can we make?
- Management by the Numbers
- Volume Based Cost Behavior Patterns
- Contribution Margin Based income Statements
- Cost-Volume-Profit (CVP) Analysis
- Using CVP to Manage
- How does the CVP Chart Change to Reflect Cost Management
- What Questions Can we Answer?
- The importance of Cash Flow
- How money works in business.
- Why profit and cash are not the same.
- How much cash can we take?
- The Cash Management Process
- Planning Motivates Control Through Evaluation
- Budgeting in an Uncertain Business World — Solvency Management
- Factors Influencing the Need for Budgeting & Planning
- What Makes the Budgeting Process Successful?
- Breaking Down the Financial Statement Barrier
- Assets and Liabilities.
- Working Capital Management.
- Key ratios to improve asset utilization and profitability.
- Expenditure Planning and Financial Decision Making
- Cost benefit analysis.
- Capital expenditure decisions.
- What is Capital Expenditure?
- Nature of Capital Investment Decisions
- What is Capital Budget?
- Stages of Capital Budgeting Process
- Relevant Cash Flows
- Methods of Evaluating Capital Investments
- Sensitivity analysis.
- Budgeting for Profit
- Definition of a budget.
- Purpose of a budget.
- How to construct a budget.
- How to use a budget for financial control.
- Motivation and Control through Budgeting
- The Motivational Cycle
- The Control Environment
- How Much Accounting Control Do We Need?
- Types of Controls
- Centralized vs. Decentralized Controls
- Responsibility Centers used in Accounting Control Systems
- Limitations for 'Management by the Numbers' or Accounting Control
- Evaluation of Managers and Divisions
- Cost of Capital Employed
- Accounting Performance Measures
- Do Our Accounting Systems Encourage Good Judgment?
||Finance for Non-Financials