Finance for Non-Finance Managers

Course Overview

This hands on one day course is designed to introduce managers and business owners who do not have a background in finance to the financial reports, concepts and terminology which they are likely to come across in business management.
It gives an introduction to the background and principles of UK accounting, and examines the most commonly used management reports which will give an understanding of the business from a finance perspective.
Dummy company data and reports will be used on open group courses, however for a more tailored analysis bespoke training can use your own company reports within the exercises.

Prerequisites

• • There are no prerequisites for this course

Course Content

• Key Topics

  The role of finance in business
  Understanding accounting ledgers (General / nominal ledger, cashbook / bank, debtors / receivables, creditors / payables, stock / inventory)
  Bookkeeping fundamentals and accounting principles (the concept of double entry book keeping, the Trial Balance, UK GAAP, accruals and prepayments, cost of sales, depreciation)
  Understanding and interpreting key financial statements (Balance sheet, Profit and Loss / Income and Expenditure)
  Understanding and Calculating basic KPIs and ratios (Gross profit, margin, net profit, current ratio, day sales outstanding, stock turnover)
  Developing budgets and forecasts, and analysing these against actuals
  Understanding cashflow
  Understanding financial terminology and jargon

• Follow-on Modules

  Following on from this one day introduction several more specific half day modules are available which go into further detail on:
  Understanding Cost of Sales (Stock valuations / Work in Progress / direct labour charges).
  Advanced KPIs and Ratios
  Understanding your management information (bespoke examination and explanation of your own company reports)

Included with this course

• • Lunch and refreshments when training is delivered at our training venues
  • Comprehensive course materials and exercises