详情

Finance for Non-Finance Personnel

Course Duration: 2 Days

Introduction

In today's changing business conditions and intense competition, there is a need for all functional or business heads to grasp, understand and apply fundamentals of financial accounting knowledge in respective areas or business units to be all rounded professional managers. Moving forward, most functional and business managers are expected are deemed 'owners' of the profit and loss numbers.

Course Objectives

Upon completion of this program, the participants will be able to:

Master the interpretation of financial statements
Identify key financial concerns via variance analysis
Know how to analyze and evaluate key financial indicators in view to contribute towards improving organization's performance
Understand the concepts, language and basic rules of accounting and finance and types of ratios for decision making
Equip oneself with knowledge in order to effectively manage a business organization

Key Content

Module 1: Introduction to Finance Accounting & Finance Analysis

Building Financial Knowledge
- Financial terminology
- Practical understanding of finance and accounting concepts
Understanding financial statements
Types of financial statements: Profit & Loss, Cash Flows, Balance Sheet and its importance
Evaluate business performance and visibility through:
- Profit margins and trends
- Return of Investment (ROI), gearing and liquidity ratios
Application of techniques to evaluate company's financial health via Profit and Loss account, Balance Sheet and Cashflow Staement
Golden rules of financial management for Companies and Personal Finance
- 10 tips for managing cash flow for companies
- Understanding operating cash flow by work capital management
- Working capital management and its importance in cash flow management
- Differentiate profit versus cash

Module 2: Understanding Cost

Introduction
- Cost element classification
- How cost is estimated
- Cost method and structure
- Cost drivers and impact on budget setting and reporting variances
Management reporting: Variance Analysis
- Understanding essentials of variance analysis and how variances are calculated
- What causes budget variances?

Module 3: Budgeting, Planning & Forecasting

Explore budgeting, planning and forecasting process and its importance
Bases of annual operating plan (budget)
Types of budget preparation
Capital expenditure and revenue expenditure concepts
Understanding of fixed cost and variable cost for cost driver analysis
Budget format and development process
Accountability: explore budgetary slack and goal congruence concept
Examples of budget format prepartion
Top down vs bottoms up concept

Module 4: Evaluate Project Investment

Apply key ratio analysis on project financials
Accepting and rejecting projects
Activity: case study interpretation

Target Audience

This program is suitable for sales and marketing, production and engineering, human resources and finance and accounting, purchasing and procurement, R&D/ production development and anyone who is determined to be sucessful in his/ her career.