Finance for Non-Financial Managers and Non-Financial Personnel........
Colin Thompson
Managing Partner Cavendish/Author/International Speaker/Mentor/Partner
Overview
In these challenging times, the approach to Finance is even more important than before, with the flatter management structures that operate within business today it is important both for short term success and longer term promotion that operational and even first line managers work in a strategic manner.
There are increasing pressure to implement effective systems, policies and procedures that deliver results and excellent services. At its simplest level thought needs to be given to forward planning, team development and staff succession planning. This also includes Finance; all members of the organisation should have key elements of knowledge in order to make the right decisions.
Learning Objectives
This business model enables participants to understand better, the key attributes and approaches that underpin a strategic financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.
By the end of this business model participants will be better able to:
ü Appreciate the importance of the legal process to finance.
ü Understand profit & loss accounts, balance sheets, cash flow statements and operating budgets.
ü Distinguish between different cost systems and know how to apply this knowledge to get results.
ü Understand all elements of the budgeting process and budget successfully.
ü Develop strategies for controlling spends in line with budget forecast.
ü Be able to use break-even analysis.
ü Analyse and interpret financial statements.
ü Make correct investment decisions.
ü Source finance (find the right amount of money from the right place at the right time.)
ü Make correct acquisition and purchasing decisions
ü Appreciate and make the right financial decisions for yourself and your company’s future.
Who will benefit from this comprehensive training?
This intensive workshop is designed for all levels, novice or operational and first line managers, including senior management who want a refresher in finance, or management who have responsibility for team performance and are looking to adopt a more strategic and financial based style to decision making.
This workshop is likely to be of special interest to managers, experienced or first time that are non-financial based in there management approach. The workshop may also be of interest to experienced managers, trainers and staff development professionals who are tasked with training, mentoring and/or supporting operational and non-strategic managers in progressing to more senior roles.
Content
Accounting and the Law
? Accounting principles & policies (GAAP)
? Terminology & Jargon
The Three Key Financial Statements
? Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
? Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
? Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
Revenue and Capital Expenditure
? What are Capital and Revenue Expenditure
? Budgetary considerations
? Phasing of capital spend and its Implications for budget holders
Depreciation; Assets and liabilities
? What is Depreciation?
? The Different types and uses
Costing
? Cost types & behaviours and their Impact on decisions
? Direct and Indirect Costs: fixed, Mixed and variable costs
? How costs are determined and predicting profit
? How the cost structure can affect planning and decision making
? Charging department expenditure to the correct period - accruals, prepayments and depreciation
? Standard, actual costing and Activity Based Costing (ABC)
Preparing the Business Estimates
? The purpose of forecasts for the business
? The limiting factors
? Break-even analysis
? How to predict sale revenues - different approaches
Budget and Allocation
? Departmental objectives, Budget acceptance
? Cascade objectives
? Historic v zero based budgeting methods
? Limiting budget factor
? Budgetary Control - use as a management tool
? Variance analysis & Forecasting
? Debtors and Creditors Budgets - What are they? How are they constructed?
Using Ratios to Support Investment Decisions
? Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
? Investment decisions and Return on Investment (ROI); Cost of capital
? Gearing – is the level of borrowing satisfactory?
? Liquidity – could the company be in financial difficulty?
? Profitability – how well is the company doing?
Action Planning
? Action planning - the essential next steps
? Continuous professional development - what next?
? How to apply the knowledge and skills
? What has been learned?
? Now go be success with this comprehensive knowledge
? Sharing the publication below for your success
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Sharing information from many sources for your success
About the Author Colin Thompson
Colin is a former successful Managing Director of Transactional/Document Manufacturing Plants, Document Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives, Non-Executive Director, Mentor - RFU Leadership Academy, Mentor - Coventry University, Mentor - The Chartered Institute of Personnel and Development, Business Advisor NHS Deanery, author/writer Business Advice Section for IPEX, Graphic Display World, News USA, Graphic Start, plus many others globally, helping companies raise their `bottom-line` and `increase cash flow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, presentations, business and educational models on CD-ROM/Software/PDF and over 4000 articles/reports and 35 books published on business and educational subjects worldwide. Plus, International Speaker/Visiting University Professor.
Strategist | Mentor | Speaker | Author
DDL: + 44 (0) 121 247 4589
Skype:colin.thompson384
ETHOS
INTEGRITY is non-negotiable
EXCEED expectations
CHALLENGE conventional wisdom
RESPECT for all