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Finance and Accounting for Nonfinancial Managers
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All too often, a manager’s performance is measured by how effectively they oversee departmental budgets. This course transforms financial and accounting concepts into decision-making tools you can use successfully. You learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial performance of business activities.
You Will Learn How To
- Integrate financial concepts and policies into the management decision and budgeting process
- Evaluate the financial performance of companies
- Employ cash flow techniques to analyse business status
- Calculate the cost of business activities
- Control business operations through effective budget management
Course Outline
- Why Finance Matters
- Demystifying financial jargon
- Generally Accepted Accounting Principles (GAAP)
- Public vs. private financial methodologies
- Accountability and responsibility
- The Key Building Blocks of Financial Control
Decoding the income statement
- Differentiating income, operating and capital expense items
- Putting the pieces together to measure profit and business success
- When a sale becomes a sale: sales recognition
Analysing the balance sheet
- Evaluating the worth of an established business
- Distinguishing between fixed and current assets and liabilities
- Defining depreciation and amortisation
- Linking the income statement to the balance sheet
- Shareholder equity
- Cash Flow: The Lifeblood of Organisations
Making the key connection between business activity and cash flow
- Differentiating between cash flow, profit and net worth
- Connecting cash management to line management
- Credit and cash flow
- How much cash is enough?
The importance of depreciation and amortisation
- How depreciation impacts your budget over time
- Methods for calculating depreciation
- Advantages and disadvantages of various key methods
- Impacting the management budget
- Managing a Profit or Cost Centre
Selecting the best costing method for your situation
- Absorption, marginal, activity-based costing
- Determining costs in service businesses
- Avoiding costing traps
The unique features of project costing
- Estimating project duration and future costs
- Leveraging debt to your advantage
- Anticipating problems using cost control
- Making estimates based on incomplete information
Choosing projects that optimise shareholders' interests
- Making the financial case using ROI
- Advantages and disadvantages of ROI, payback, discounted cash flow (DCF) and NPV techniques
- Selecting viable projects
- A Manager's Guide to Budgeting
Recognising that budgets are more than numbers
- Budgeting as sociology, not accounting
- The politics of getting a budget approved
- The relationship between a well-designed budget and how others measure your performance
- Managing effectively within budgeting constraints
Comparing budget approaches
- Top-down
- Bottom-up
Types of budgets
- Incremental
- Zero-based
- Rolling
- Others
- Developing the budget numbers
Budgeting as a planning and control tool
- Using the budget to control the business
- Limiting factors
- Budget process and coordination
- Forecasting sales revenues and expenses
- Adjusting the budget to reality
- Pulling It All Together
- Applying financial tools and concepts in the real world
- Evaluating a company's health through its annual report
- Comparing public and private sector practices
- Recognising potential traps in creative accounting
Convenient Ways to Attend This Instructor-Led Course
In the Classroom
Live, Online
Private Team Training
In the Classroom — OR — Live, Online
Tuition Fee — Standard: £1195
20 - 22 May
(
3 Days)
9:00 AM - 4:30 PM BST
Online (AnyWare)
Reserve Your Seat
19 - 21 Aug
(
3 Days)
9:00 AM - 4:30 PM BST
London
Reserve Your Seat
18 - 20 Nov
(
3 Days)
9:00 AM - 4:30 PM GMT
London
Reserve Your Seat
17 - 19 Feb
(
3 Days)
9:00 AM - 4:30 PM GMT
London
Reserve Your Seat
Guaranteed to Run
When you see the "Guaranteed to Run" icon next to a course event, you can rest assured that your course event — date, time — will run. Guaranteed.Private Team Training
Enrolling at least 3 people in this course? Consider bringing this (or any course that can be custom designed) to your preferred location as a private team training.
For details, call 0800 282 353 or Click here »
Tuition Fee
Course Tuition Fee Includes:
Training Hours
Standard class hours:
9:00 a.m. - 4:30 p.m.
Last day class hours:
9:00 a.m. - 3:30 p.m.
Free Course Exam – Last Day:
3:30 p.m. - 4:30 p.m.
Each class day:
Informal discussion with instructor about your projects or areas of special interest:
4:30 p.m. - 5:30 p.m.
AFTERNOON START class hours:
2:00 p.m. - 9:30 p.m.
Last day class hours:
2:00 p.m. - 8:30 p.m.
Free Course Exam – Last Day:
8:30 p.m. - 9:30 p.m.
Each class day:
Informal discussion with instructor about your projects or areas of special interest
9:30 p.m. - 10:30 p.m.
Enhance Your Credentials with Professional Certification
Learning Tree's comprehensive training and exam preparation guarantees that you will gain the knowledge and confidence to achieve professional certification and advance your career.
Earn 17 PDUs
PMI, the Registered Education Provider logo, PMP, CAPM, PMI-ACP,
and PMBOK are marks of the Project Management Institute, Inc.