Finance for Non-Financial Directors (2-Day Course)
Being successful within the increasingly complex and fast moving world of work requires a firm grasp and an in depth understanding of a wide range of financial concepts and skills.
It is becoming essential for all Company Directors, Director Designates, Senior Executives and Senior Consultants to be able to read and understand Balance Sheets and Profit & Loss Accounts. In addition a good grasp of Financial Terminology and the key elements of Financial Management are important to facilitate ongoing corporate and personal success.
The successful completion of this training course will allow delegates to become competent at reading and understanding all forms of financial statements. Participants will be provided with a sound theoretical financial knowledge base upon which to build and acquire new and even more advanced financial management skills. The course will discuss and explain the use of the commonly accepted key ratios, with practical worked examples, in the analysis of any set of accounts, the Balance Sheet, the Profit and Loss Account and the Cash Flow statements.
Following your attendance you will be better equipped to participate in all types of financial discussions within your organisation. You will feel more credible and comfortable when communicating with fellow directors, investors, banks, merger partners, suppliers and key clients.
This could be when explaining the financial implications of a chosen business decision, or when discussing the implementation of management changes or consulting recommendations. You will always be at ease when discussing financial matters or using financial jargon. You will be able to subject the potential implementation of any management changes or consulting recommendations to a much more informed and critical financial appraisal.
Not to be confused with: Finance for Non-Financial Managers
Who Should Attend?
All those interested in improving their financial skills and knowledge base within the areas of strategic financial management, financial analysis, financial planning, financial statements, financial discussions, financial accounting, financial decision making, company acquisitions and disposals as well as financial business restructuring.
Chief Executives, Sales Directors, Marketing Directors, Non-Executive Directors, Operations Directors, Commercial Directors, Administration Directors, Purchasing Directors, IT Directors, Production Directors, Facilities Directors, Senior Site Directors, Property Directors, Advertising Directors, Media Directors, Medical Directors, Charity Directors, Medical Services Directors, Communications Directors, Logistics Directors, Foundation Trust Directors, Director Designates, Senior Consultants and Senior Executives interested in improving their financial skills and becoming more successful within an organisation.
The format will consist of detailed concise seminars, most of which will be followed by a short audience participation and interaction sessions.
Course Objectives
Following the training delegates will be able to:
- read and instantly analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements; by using the techniques and knowledge gained on this course including the use of Current Ratios, Liquidity Ratios, ROCE, ROE, Profitability and Growth Ratios, and as well as Efficiency and Cover ratios
- apply accepted financial techniques and tools to assess the financial value and viability of any potential course of action including: capital investment; new products or projects; corporate acquisitions or disposals; or any form of business expansion or contraction. Through the use of simple cash flows, using Net Present Value or NPV, Discounted cash flows and rates of return including, hurdle, threshold and commercial
- recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
- understand and quantify the impact of the fundamental accounting concepts and the financial policies chosen by your organisation upon your own financial statements
- select the most appropriate legal corporate or other business structure for any potential new business operation.
- discuss in financial terms the benefits and dangers of high leverage or borrowing, versus low gearing and the consequential impact upon the financial performance of a business, providing insights into the key business drivers behind highly leveraged companies
- choose between the competing types of capital and operational funding, through a sound knowledge and understanding of their likely financial costs and benefits
- understand the difference between simple statutory published accounts, consolidated accounts and internal monthly management accounts, highlighting the costs and benefits of producing those accounts. You would also be able to determine whether your organisation should be subject to an external audit
- define and discuss the main methods of costing; including an introduction to Activity Based Costing, ABC, Absorption Costing and Marginal Costing
- select the most appropriate method of costing for your organisation and to explain the impact of your choice
- understand in financial and business terms, the differences between managing for profit and managing for cash and to explain the main benefits and dangers of each approach, by examining the implications of common practices within different sectors and their impact upon the Balance Sheet and the Profit & Loss Account
- analyse and make decisions based upon break even analysis and contribution analysis, with a full understanding of their relative strengths and weaknesses
- identify and discuss the key financial issues facing most organisations today and then propose tactical and strategic solutions.
- understand and to provide objective comments upon the key elements involved in the process of setting, controlling and managing budgets at a tactical and an operational level
- value any business applying commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value, EBITDA and PE Ratios. This will lead to better financial and business discussions during the analysis of the financial statements in the evaluation of a potential business acquisitions or disposals, which should in turn lead to better decision making regarding such transactions
- understand the wider financial impact of any business decision and its interaction with non-financial aspects of the organisation, to enable you to make a better contribution to key discussions and decision making within the Board and elsewhere in the organisation
- assess the likely costs, risks and benefits associated with the potential sources of capital
- communicate more effectively and fluently with Finance Directors, Procurement Directors, fellow Board Members, Accountants, Financial Advisors, Consultants, Bankers, Venture capitalists, Business angels and other providers of finance
- review course materials for an in depth understanding of financial terminology and the various financial management and evaluation techniques
Other Finance and Accounts Related Training
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Workshop Style
This training course is delivered in a workshop style. It is highly participative with a blend of presentation, group exercises and debate. A comprehensive delegate pack is included. .
Numbers
To ensure effective levels of delegate participation, involvement and interaction, delegate numbers are restricted. This workshop is suitable for groups of 2 to 20 delegates.
Certification
Formal CPD certificates are provided after the event in a form which is acceptable as CPD evidence to many professional bodies and institutions.
Facilitator
The facilitator for this workshop is a highly experienced trainer with in-depth subject knowledge.