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Finance for Non-Finance Managers Course

INTRODUCTION

Many managers are promoted through skills in their own field - which may not include much financial exposure. Having the responsibility of submitting and working to tighter budgets, reducing costs and coming up with ideas for improving profits may have many non-financial managers feeling out of their comfort zone. The programme is not designed to turn non-financial managers into financial experts – but rather to introduce them to finance and accounts. Key topics include the role of the finance function, understanding and interpreting the financial statements and preparing and managing budgets.

5 Days

WHO SHOULD ATTEND

  • Attend this course if you would like to be able to read and understand financial reports, create better budgets, and monitor your financial department or organization’s performance.

 LEARNING OBJECTIVES

At the end of this IRES training course, you will learn:

  • Gain a better understanding of Financial Principles and Terminology
  • Understand how information provided by the finance department can assist you in improving profits for the company
  • Be able to read and understand financial reports and what they are telling you about your business or division
  • Identify how to spot cost trends and overspending so that these can be focused on and controlled
  • Calculate the estimated profit that will be added by a Sale, Promotion, Marketing Plan or Divisional Initiative.
  • Conduct your own Break Even Analysis to be able to set your own targets and budgets
  • Understand the actual effect of discounts and price increases
  • Use an easy to use framework to prepare your budgets, and justify them so that they are quickly approved
  • Understand and avoid the dangers and pitfalls that are commonly made during budget preparation
  • Implement budgetary control systems such as variance reports and future projections to highlight budget problems as early as possible.

TOPICS TO BE COVERED                  

Module 1

Who is Responsible for Finance?

  • What is Financial Management?
  • The role of the accounting division to the aim of making a profit for the business.
  • The role of operational management in finance The Key Elements of Finance and Accounts

 What are weekly, monthly and annual statements?

  • The 5 key accounting principles
  • The functions and responsibilities of auditors

Module 2

 Accounting Jargon and Terminology

  • Why accountants group things into assets, liabilities, costs and revenues
  • The meaning and use of terms such as accruals, provisions, depreciation etc.
  • Methods of depreciating assets, and providing for bad debts explained

 The Costing Process

  • The accounting method of measuring and attributing costs
  • Methods of costing services vs. products
  • Differentiating between direct costs, indirect costs, fixed costs and variable costs
  • Relating costs to gross profit and net profit

 Module 3

Understanding and Analyzing the Income Statement

  • Identifying different elements in the income statement
  • Spotting problem areas and trends
  • Variable vs. fixed costs and how these influence decisions

Working with the Balance Sheet

  • Identifying different elements in the balance sheet
  • Understanding the meaning of provisions, accruals and prepaid accounts
  • Spotting problem areas and trends

Module 4

 Investigating Cash flow and Working Capital

  • The importance of managing cash flow
  • Calculating and analyzing cash flow
  • Working with cash flow statements

Using Financial Information

  • How to tell how well you are doing
  • Checking information with some basic ratios
  • Spotting problem trends before they become unmanageable
  • Using future projections

Module 5

Painlessly Preparing Budgets

  • Setting the objectives for your budget
  • Top-down and bottom-up budgeting
  • The budgeting process outlined
  • Justifying your budget

Managing and Staying within a Budget

  • Compiling a budget variance report
  • Updating your actual spend / achievements

 

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Services (IRES) certificate.

TRAINING VENUE

The training is residential and will be held at IRES training Centre. The course fee covers the course tuition, training materials, two break refreshments, lunch, and study visits.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION

Accommodation is arranged upon request. For reservations contact the Training Officer.

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.   

Mob: +254 715 077 817

Tel: 020 211 3814

TAILOR- MADE

This training can also be customized for your institution upon request to a minimum of 4 participants. You can have it delivered in our training centre or at a convenient location.

For further inquiries, please contact us on Tel: +254715077817,+254 (020) 211 3814 or mail This email address is being protected from spambots. You need JavaScript enabled to view it.

PAYMENT

Payment should be transferred to IRES account through bank on or before C.O.B 30th September 2019.

Send proof of payment to This email address is being protected from spambots. You need JavaScript enabled to view it.

CANCELLATION POLICY

Payment for all courses includes a registration fee, which is non-refundable and equals 15% of the total sum of the course fee.

1.    Participants may cancel attendance 14 days or more prior to the training commencement date.

2.    No refunds will be made 14 days or less to the training commencement date. However, participants who are unable to attend may opt to attend a similar training at a later date, or send a substitute participant provided the participation criteria have been met.

Please Note: The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

Event Properties

Event Duration 5 Days
Event Date 07-10-2019
Event End Date 11-10-2019
Cut off date 30-09-2019
Individual Price(Kenyan) KES 69,000
Individual Price (International) EUR 790
Individual Price(International in Dollars) USD 920
Location Nairobi, Kenya
We are no longer accepting registration for this event
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