Finance For Non-finance Managers Training Course

Introduction

In today's competitive business environment, every managerial decision has financial implications, making a foundational understanding of financial principles crucial for optimizing resource allocation, driving profitability, and contributing to organizational success. Mastering Finance for Non-Finance Managers is absolutely critical for professionals across all departments seeking to enhance their financial literacy, interpret key financial data, and make informed business decisions that positively impact the bottom line. This essential training course is meticulously designed to equip managers, team leaders, department heads, project managers, and anyone in a leadership role with the specialized knowledge and practical skills required for interpreting financial statements, understanding budgeting and forecasting techniques, evaluating investment opportunities, analyzing profitability, and contributing effectively to financial discussions. Participants will gain a comprehensive understanding of core financial concepts, the nuances of reading income statements and balance sheets, the challenges of managing cash flow, and the critical role of financial acumen in driving operational efficiency and strategic growth.

This business finance and financial literacy course is crucial for individuals and institutions striving to move beyond basic operational management towards a proactive, strategically informed, and financially robust approach to organizational leadership. Mastering cost-benefit analysis for project evaluation, implementing effective budgeting and expenditure control techniques, and understanding strategies for enhancing departmental profitability are indispensable for mitigating financial risks, enhancing resource utilization, optimizing return on investment, and ultimately achieving significant advancements in organizational performance and financial health.

Target Audience

• Department Heads & Team Leaders
• Project Managers
• Marketing & Sales Managers
• Operations & Production Managers
• HR Managers
• IT Managers
• Small Business Owners & Entrepreneurs

Course Objectives

• Master the fundamental principles of financial management and their application in business.
• Learn how to effectively read and interpret key financial statements: Income Statement, Balance Sheet, Cash Flow Statement.
• Develop proficiency in understanding core accounting concepts and their impact on financial reporting.
• Understand budgeting processes, forecasting techniques, and variance analysis for effective cost control.
• Explore best practices in managing working capital and optimizing cash flow within a department or project.
• Grasp advanced techniques for evaluating investment opportunities and capital expenditure decisions.
• Learn about robust approaches to cost analysis, profitability analysis, and break-even point determination.
• Identify the critical role of financial metrics and key performance indicators (KPIs) in business decision-making.
• Develop skills in preparing and presenting compelling financial justifications for projects and initiatives.
• Understand the linkages between financial performance, operational efficiency, and organizational strategy.
• Analyze ethical considerations and governance in financial reporting and management.
• Drive the implementation of sound financial practices within your area of responsibility.
• Formulate strategies for contributing effectively to overall organizational financial health.

DURATION

5 Days

COURSE CONTENT

Module 1. Understanding Financial Statements

• Deconstructing the Income Statement (Profit & Loss): Revenue, Expenses, Profit
• Analyzing the Balance Sheet: Assets, Liabilities, Equity, and the accounting equation
• Interpreting the Cash Flow Statement: Operating, Investing, and Financing activities
• Linkages between the three financial statements
• Practical exercises in reading and understanding real-world financial reports

Module 2. Core Accounting Concepts

• Accrual vs. Cash Basis Accounting: impact on financial reporting
• Depreciation and amortization: understanding non-cash expenses
• Basic accounting principles: matching, revenue recognition, materiality
• The chart of accounts and its role in financial organization
• Understanding key financial terms and jargon

Module 3. Budgeting & Financial Planning

• The budgeting process: top-down vs. bottom-up approaches
• Developing departmental and project budgets effectively
• Forecasting techniques: sales, expenses, and cash flow projections
• Variance analysis: understanding deviations from budget
• Strategies for cost control and expenditure management

Module 4. Cost Analysis & Profitability

• Types of costs: fixed, variable, direct, indirect, opportunity costs
• Break-even analysis: calculating the point where costs equal revenue
• Contribution margin and its role in decision-making
• Activity-Based Costing (ABC) principles for accurate cost allocation
• Strategies for enhancing departmental or product profitability

Module 5. Working Capital Management & Cash Flow

• Understanding working capital: current assets minus current liabilities
• Managing inventory, accounts receivable, and accounts payable
• Optimizing cash flow cycles to ensure liquidity
• The importance of cash flow for business survival and growth
• Practical tips for improving departmental cash flow

Module 6. Investment Appraisal & Capital Budgeting

• Evaluating investment opportunities: NPV, IRR, Payback Period, ROI
• Making capital expenditure decisions: buy vs. lease, project selection
• Understanding the time value of money and discounting
• Risk assessment in investment decisions
• Post-implementation review of investment projects

Module 7. Financial Ratios & Performance Metrics

• Key financial ratios: liquidity, solvency, profitability, efficiency
• Using ratios to assess financial health and performance
• Benchmarking against industry standards and competitors
• Key Performance Indicators (KPIs) for financial success
• Interpreting trends in financial data

Module 8. Communicating Financial Information

• Presenting financial data clearly and concisely to non-financial audiences
• Crafting compelling business cases and financial justifications for proposals
• Understanding financial jargon and effectively participating in financial discussions
• The importance of transparency and ethical financial reporting
• Building a bridge between operational and financial objectives

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 5 working days before commencement of the training.