FINANCE FOR NON-FINANCE MANAGERS

In modern times, successful organizations empower all their non-financial executives, directors and managers at all levels with a practical working knowledge of finance.

Our Finance for Non-Finance Managers Training Course in Uganda de-mystifies the language of finance to enable managers to contribute more effectively to organizational or business performance and talk more easily to financial colleagues. The course enables delegates to understand key accounting concepts and improve forecasting and cost management skills.

This practical two-day course will help managers develop their financial understanding, understand how their decisions affect an organization’s financial performance and improve their organization’s financial performance. We will demystify the jargon, explore key ratios, and examine key trends and areas for concern. Then we change the emphasis on identifying the future key issues, and threats and opportunities and how to plan and budget for them.

Get modern practical financial skills to help you balance the books. Learn how money flows in business environments and develop the skills to manage your finances with this accounting and bookkeeping course from Houston Executive Consulting.

You will be able to master common terms, basic math the ability to put your knowledge into practice at your workplace. After this training, you’ll be able to perfectly balance your books and understand how concepts of profit and loss lead to revenue or debt.

By the end of the Finance for the Non-Finance managers course, the participants will:

• understand basic financial documents used in the organization
• interpret the information in these documents, and use it to manage day-to-day organization activity
• support the departments in developing budgets, make informed budgeting decisions and plans in their respective units
• utilize modern methods of cost control, budgeting, and forecasting to help reduce costs for the organization
• effectively communicate financial information to business partners giving their input in analysis and ratios.
• keep records so that they can work effectively and remain compliant.
• understand and analyze Balance Sheets and Income & Expenditure Accounts for key issues and financial Strengths and Weaknesses
• analyze, understand and manage their own Income and Expenditure accounts more effectively
• use internal Management Accounts to monitor and improve performance against Budget
• recognize areas of concern and recommend ideas for improving financial performance and productivity
• feel much more confident about their understanding of financial terms and jargon

The training shall be conducted for two (2) days as follows:

Module 1: An overview of the key financial principles & concepts

Module 2: The Balance Sheet 

• Understanding different Assets and Liabilities
• About Fixed Assets
• Current Assets – what they are and how to improve
• Current Liabilities – what they are and how to improve them

Module 3: How to interpret accounts, profit and loss statements, and balance sheets

• The key components of the Income and Expenditure Account
• Analyzing Key ratios and trends
• Managing different types of Costs and their behavior
• Analyzing income streams
• Improving Profitability and Productivity
• Profit/Surplus and Cash flow are different things!

Module 4: Management Accounts

• What Management Accounts should tell us
• How these figures contribute to the overall performance
• Managing the cash flow as well as the costs
• Managing variances and making any necessary improvement
• Understanding cost management and monitoring.
• Identifying key business drivers.
• Follow up on the revenue expectations of their departments

Module 5: Using ratios to benchmark our performance 

• How to use the key ratios to benchmark our performance
• Recognizing areas where performance is slipping and which need management attention
• Generating ideas to improve financial performance, including people’s productivity
• Identifying and investing more in high performing assets and activities
• Identifying and improving underperforming assets and costs

Module 6: Moving from Analysis to Forecasting (Budget, Forecasting & Control)

• The principles of Forecasting and Budgeting
• Revenue Budgets
• The strengths and problems of traditional budgeting methods
• 2 other approaches which can complement and improve traditional budgeting methods
• Budgeting for Projects – how to do a Cost-Benefit Analysis
• Capital expenditure
• Where budgeting can go wrong and how to avoid the principal problems

Personal Take Out: Each person will have an opportunity to say:

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• What they are taking away from the training
• What specifically they know they will use
• Where they will practice