Course Details

Understand Business Finances: Essential Financial Literacy for Non-Financial Managers Training Course

INTRODUCTION

In today's data-driven business world, a fundamental understanding of financial principles is no longer confined to finance professionals. Our comprehensive Financial Literacy for Non-Financial Managers Training Course is meticulously designed to equip individuals in non-finance roles with the essential knowledge and practical skills to interpret financial information, contribute to financial discussions, and make informed business decisions. Mastering key financial literacy concepts, understanding core accounting principles, and developing strong financial analysis skills are paramount for effective decision-making and contributing to organizational profitability. This intensive finance training will empower you to cultivate your financial understanding and become a more valuable and financially aware contributor to your organization's success.

This transformative financial literacy development program delves into the core elements of business finance, providing actionable frameworks for understanding financial statements, managing budgets, and making sound investment decisions. From understanding the principles of profit and loss statements to mastering the art of cash flow management and developing crucial financial planning skills, this course offers a practical and accessible approach to demystifying finance for non-financial professionals. Learn to speak the language of business, contribute confidently to financial discussions, and make financially sound decisions that drive organizational growth through proven financial literacy methodologies.

DURATION

5 days

TARGET AUDIENCE

• Non-Financial Managers and Supervisors
• Project Managers Responsible for Budgets
• Sales and Marketing Professionals Managing Expenses
• Operations Managers Overseeing Costs
• HR Professionals Involved in Compensation and Benefits
• Anyone in a Non-Finance Role Making Financial Decisions
• Individuals Seeking a Better Understanding of Business Finances

COURSE OBJECTIVES

• Understand fundamental accounting principles and terminology.
• Learn to interpret key financial statements: balance sheet, income statement, and cash flow statement.
• Develop skills in managing and analyzing budgets effectively.
• Understand the basics of cost accounting and its relevance to decision-making.
• Learn the principles of financial planning and forecasting.
• Develop a basic understanding of investment and financing decisions.
• Learn to identify and manage financial risks within their area of responsibility.
• Improve communication with finance professionals using a common financial language.

COURSE CONTENT

Module 1: Introduction to Financial Literacy

• Defining financial literacy and its importance for non-financial managers.
• Understanding basic accounting principles and the accounting equation.
• Exploring the role of finance within an organization.
• Identifying key financial stakeholders and their information needs.
• Demystifying common financial terms and concepts.

Module 2: Understanding the Balance Sheet

• Introduction to the balance sheet and its components: assets, liabilities, and equity.
• Understanding the relationship between assets, liabilities, and equity.
• Analyzing different types of assets and liabilities.
• Interpreting the balance sheet to assess a company's financial position.
• Understanding key balance sheet ratios.

Module 3: Analyzing the Income Statement (Profit & Loss)

• Introduction to the income statement and its components: revenues and expenses.
• Understanding different types of revenues and expenses.
• Calculating gross profit, operating profit, and net income.
• Interpreting the income statement to assess a company's profitability.
• Understanding key income statement ratios.

Module 4: Interpreting the Cash Flow Statement

• Introduction to the cash flow statement and its three sections: operating, investing, and financing activities.
• Understanding the importance of cash flow for business sustainability.
• Analyzing cash inflows and outflows from different activities.
• Interpreting the cash flow statement to assess a company's liquidity.
• Understanding the difference between profit and cash flow.

Module 5: Budgeting and Financial Control

• Understanding the purpose and benefits of budgeting.
• Learning different budgeting methods and approaches.
• Developing and managing departmental or project budgets.
• Analyzing budget variances and taking corrective actions.
• Understanding the importance of financial controls.

Module 6: Cost Accounting Basics for Decision-Making

• Understanding different types of costs: fixed, variable, direct, and indirect.
• Learning basic cost-volume-profit (CVP) analysis.
• Understanding the concept of break-even point.
• Using cost information for pricing and operational decisions.
• Understanding the importance of cost control.

Module 7: Financial Planning and Forecasting Fundamentals

• Understanding the importance of financial planning for the future.
• Learning basic forecasting techniques for revenues and expenses.
• Understanding the concept of pro forma financial statements.
• Contributing to the financial planning process within your area.
• Understanding the link between operational plans and financial forecasts.

Module 8: Financial Awareness and Risk Management

• Understanding basic investment concepts and terminology.
• Recognizing different sources of financing for businesses.
• Identifying common financial risks and their potential impact.
• Understanding basic financial risk management principles.
• Improving communication with finance professionals on financial matters.

•  CERTIFICATION
• Upon successful completion of this training, participants will be issued with a Macskills Training and Development Institute Certificate
• TRAINING VENUE
• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.
• AIRPORT PICK UP AND ACCOMMODATION
• Airport pick up and accommodation is arranged upon request
• TERMS OF PAYMENT
• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com