Introduction
Financial knowledge and skills are essential for any managerial position. This training course offers non-financial managers practical experience in understanding and analyzing financial statements, managing costs, performing variance analysis, making informed decisions, and budgeting. The course helps managers enhance their decision-making abilities, ultimately benefiting the company’s bottom line.
Financial information provides a clear picture of past events, a basis for forecasting future events, and insights into cost-effectiveness and performance. It helps assess whether objectives and targets have been met and measures comparative performance and profitability.
This Xcelerate Training Institute equips you with the knowledge to make powerful, informed business decisions, covering all major principles of corporate finance, from understanding cash flow to creating corporate value.
Learning Objectives
By the end of this ‘Finance for Non-Finance Managers Course,’ participants will:
- Use financial information to manage and assess company or departmental operations.
- Manage and reduce costs (fixed versus variable costs).
- Control working capital and manage inventory build-up impacts.
- Apply accounting methods, tools, and techniques to manage financial risks.
- Interpret financial statements and overcome understanding barriers.
- Gain confidence in preparing budgets and reading management information.
Training Methodology
Xcelerate Training Institute customizes each training program to match participants’ learning expectations and professional backgrounds. Classroom sessions include presentations by highly competent trainers. Participation is encouraged through group discussions, problem-solving exercises, group activities, and projects. Participants share experiences, issues, and best practices from their organizations, discussed in detail by the facilitator. The course follows the Do–Review–Learn–Apply Model.
Benefits for Your Organization
Organizations will benefit from:
- Effective communication using common financial language with finance professionals.
- Interpretation of the financial health and state of the company, division, or responsibility center.
- Understanding and computing widely used financial KPIs.
- Applying management accounting techniques for product costing, cost-volume-profit analysis, budgeting, and variance analysis.
- Linking corporate and financial strategy.
Benefits for You
Participants will gain:
- Understanding of financial management functions and their role in business operations.
- Insights into the significance of accounting choices and their impact on financial statements.
- Ability to apply capital budgeting techniques and cost-volume-profit analysis for better decision-making.
- Knowledge of the purpose of the three significant financial statements: Income Statement, Statement of Financial Position, and Cash Flow Statement.
Target Audience
This course is ideal for:
- Managers (junior to top-level) needing practical, hands-on experience in corporate finance principles.
Course Outline
Basic Accounting Concepts
- The Accounting Process
- Cash vs. Mercantile Accounting
- Accrual Concept
- Stock Valuation – FIFO vs. LIFO
- Types of Accounting
- Revenue Recognition
- Cap-ex vs. Op-ex
- Depreciation/Amortization
- Tangible vs. Intangible vs. Capital W-I-P
- Current vs. Non-current
Introduction to Financial Statements
- Profit & Loss Account including OCI
- Balance Sheet and SOCIE
- Cash Flow Statement
- Notes to Accounts
Financial Statement Analysis
- P&L Statement Analysis
- Balance Sheet Analysis
- Funds Flow Analysis
- Ratio Analysis
- Trend Analysis
- Common Size Analysis
Working Capital Management
- Concept of Working Capital
- Managing Inventory and Trade Receivables
- Managing Trade Payables
- Budgeting and Working Capital Management
Capital Budgeting
- Capital Expenditure Evaluation
- NPV Technique
- IRR Technique
- Pay Back Method
- Risk Analysis
Cost Management and Costing Techniques
- Cost Concepts
- Various Costing Methods
- Breakeven Analysis
- Costing vs. Budgeting
- Strategic Cost Management
Revenue Management
- Revenue Recognition and Possible Revenue Leakages
- Revenue vs. Trade Receivables
- Revenue vs. Trade Payables
- Revenue vs. Foreign Exchange Management
Introduction to IFRS
- Introduction to Accounting Standards
- Generally Applicable IFRS
- Discussion on Specific IFRS