Code: 
F-NFM3
Duration: 
1-3 Day(s)
Price: 
£1029-999

Overview

  • Integrate financial concepts and policies into the management decision and budgeting process
  • Evaluate the meaning of income statements and balance sheets
  • Employ cash flow analysis to assess business status
  • Calculate the cost of business activities
  • Control business operations through effective budget management
  • Communicate effectively with financial executives and staff

Audience

Nonfinancial managers and anyone who wants to develop their knowledge of financial practices to improve their managerial skills.

Skills Gained

All too often, a manager's performance is measured by how effectively they oversee departmental budgets. To succeed as a nonfinancial manager, knowledge of basic financial principles and the budgeting process is critical. This course transforms financial and accounting concepts into decision-making tools you can use successfully every day. You learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial performance of business activities.
Case studies reinforce the fundamentals of finance presented throughout the course. Participants work in teams to gain experience in:
  • Analysing and creating profit and loss accounts, balance sheets and cash flow statements
  • Establishing and managing realistic operating budgets
  • Calculating a budget to achieve stated financial goals
  • Applying financial principles to real-world situations

Course Specifics

Course Outline

Why Finance Matters

  • Demystifying financial jargon
  • Generally Accepted Accounting Principles (GAAP)
  • Accountability and responsibility for financial information

The Key Building Blocks of Financial Control

Decoding the profit and loss account

  • Differentiating income, operating and capital expense items
  • Putting the pieces together to measure profit and business success
  • When a sale becomes a sale: sales recognition

Analysing the balance sheet

  • Evaluating the worth of an established business
  • Distinguishing between fixed and current assets and liabilities
  • Depreciation and amortisation
  • Linking the profit and loss account to the balance sheet
  • Shareholder equity: What is it and why does it matter?

Cash Flow: The Lifeblood of Organisations

Making the key connection between business activity and cash flow

  • Differentiating between cash flow, profit and net worth
  • Connecting cash management to line management
  • Credit and cash flow and mdash;maximising benefits and minimising costs
  • How much cash is enough?
  • Generating unique information from cash flow statements

The importance of depreciation and amortisation

  • How depreciation impacts your budget over time
  • Methods for calculating depreciation
  • Advantages and disadvantages of various key methods
  • Impacting the management budget
  • Where depreciation rules come from

Managing a Cost Center

Overview of costing methods

  • The difference between absorption and marginal costing
  • Activity-based costing (ABC)
  • Costing as the basis for unit pricing
  • Analysing costs to gain competitive advantage
  • Distinguishing between direct and indirect costs

Selecting the best costing method

  • Break-even analysis
  • Costing in service industries
  • Costing with incomplete information

A Manager's Guide to Budgeting

Recognising that budgets are more than numbers

  • Budgeting as sociology, not accounting
  • The politics of getting a budget approved
  • The relationship between a well-designed budget and how others measure your performance
  • Managing effectively within budgeting constraints
  • Making the budget work for you

Comparing budget approaches

  • Top-down
  • Bottom-up

Types of budgets

  • Incremental
  • Zero-based
  • Rolling
  • Others
  • Developing the budget numbers

Budgeting as a planning and control tool

  • Controlling and evaluating the business using the budget
  • Dealing with limiting factors
  • Budget process and coordination
  • Forecasting sales revenues and expenses
  • Adjusting the budget to reality

Pulling It All Together

  • Applying financial tools and concepts in the real world
  • Evaluating a company's health through its annual report
  • Recognising potential traps in creative accounting
  • Simple tools to determine whether you are working for the next Enron
  • Learning from recent examples

Thinking about Onsite?

If you need training for 3 or more people, you should ask us about onsite training. Putting aside the obvious location benefit, content can be customised to better meet your business objectives and more can be covered than in a public classroom. It's a cost effective option.

Submit an enquiry from any page on this site, and let us know you are interested in the requirements box, or simply mention it when we contact you.

Upcoming Dates

Please click date to Enquire Now
Course Location Days Cost Date
London2 1029 £1029 2018-05-29
London2 1217 £1217 2018-03-12
London2 1217 £1217 2018-02-19
Glasgow2 1217 £1217 2018-02-08
Leeds2 1217 £1217 2018-02-05
London2 1217 £1217 2018-01-23
London3 1695 £1695 2017-12-19
London2 1029 £1029 2017-12-18
Leicester1 795 £795 2017-12-15
Birmingham2 999 £999 2017-12-13
London2 880 £880 2017-12-11
London2 450 £450 2017-12-06
London1 450 £450 2017-12-05
Birmingham2 900 £900 2017-11-29
Leicester1 795 £795 2017-11-29
Manchester1 450 £450 2017-11-22
Leeds2 900 £900 2017-11-22
London2 999 £999 2017-11-22
Birmingham2 1217 £1217 2017-11-20
London2 900 £900 2017-11-15
London2 1217 £1217 2017-11-14
Leeds1 450 £450 2017-11-13
London1 450 £450 2017-11-09
Birmingham1 450 £450 2017-11-08
Exeter3 1500 £1500 2017-10-23
Birmingham3 1500 £1500 2017-10-23
Leeds2 1217 £1217 2017-10-19
Leeds1 450 £450 2017-10-18
London2 999 £999 2017-10-17
Nottingham2 900 £900 2017-10-17
London2 999 £999 2017-10-16
London1 450 £450 2017-10-11
Manchester2 900 £900 2017-10-11
Edinburgh2 900 £900 2017-10-10
Bristol3 1500 £1500 2017-10-09
London2 1217 £1217 2017-10-09
Cardiff3 1500 £1500 2017-10-09
Leicester1 795 £795 2017-10-05
London2 1049 £1049 2017-10-05
Nottingham1 450 £450 2017-10-05
Manchester1 450 £450 2017-10-04
Edinburgh2 1217 £1217 2017-10-04
Edinburgh2 999 £999 2017-09-28
Liverpool3 1500 £1500 2017-09-28
Birmingham2 880 £880 2017-09-27
London2 999 £999 2017-09-26
London1 450 £450 2017-09-20
Nottingham1 450 £450 2017-09-14
Birmingham1 450 £450 2017-09-13
London2 880 £880 2017-09-13
London2 900 £900 2017-09-12
Bristol1 450 £450 2017-09-12
Birmingham2 999 £999 2017-09-11
Leeds1 450 £450 2017-09-05
Leicester1 795 £795 2017-09-05
Bristol2 900 £900 2017-09-05
London1 450 £450 2017-09-04
London2 450 £450 2017-08-30
Bristol1 450 £450 2017-08-25
Leicester1 795 £795 2017-08-25
Glasgow3 1500 £1500 2017-08-18
Nottingham1 450 £450 2017-08-14
Manchester2 1217 £1217 2017-08-10
London2 1217 £1217 2017-08-10
London3 999 £999 2017-08-09
Edinburgh1 450 £450 2017-08-09
Manchester1 450 £450 2017-08-08
Oxford3 1500 £1500 2017-07-31
Leeds2 1217 £1217 2017-07-27
Nottingham2 1217 £1217 2017-07-25
London2 1217 £1217 2017-07-24
London2 999 £999 2017-07-20
Leicester1 795 £795 2017-07-12
London1 450 £450 2017-07-12
Birmingham1 450 £450 2017-07-12