Finance For Non-Finance Professional
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INTRODUCTION
The Finance for Non-Finance Managers program is specifically designed for business owners and professionals with little or no accounting/financial or technical knowledge who need to understand the fundamentals of financial management and the tools and techniques used to make financial decisions in the corporate context.
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COURSE OBJECTIVES
At the end of this course you will be able to:
- Understand the fundamentals of corporate finance and financial accounting
- Explain the different types of financial accounts
- Classify the main areas of financial ratio analysis
- Identify the main variables affecting the cost structures in the corporate contextual framework
- Prepare an operating budget and relate it to the organization’s strategic objectives
- Apply capital budgeting techniques to evaluate long-term decisions in projects and capital expenditures
- Use cost behavior concepts to calculate breakeven point and enhance short-term decision making
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COURSE AUDIENCE
This course is made for:
- senior managers
- Unit directors from non-finance-based functions, such as engineering, marketing, sales, planning, design, logistics, manufacturing, and IT. Participants should have at least five years of work experience.
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COURSE OUTLINE
Day One:
- Understanding the accounting cycle
- The five main accounts in financial statements
- Income statement: A tool for performance measurement
- Accrual basis versus cash basis
Day Two:
- Why ratios are useful
- Horizontal and trend analysis
- Vertical analysis: Common size statements
- Building blocks analysis and reading through the numbers:
- Liquidity ratios: Ability to settle short-term dues
- Solvency ratios: Ability to settle long-term dues
Day Three:
- The meaning of an operating budget
- Steps to budget development
- Master budget components
- Sales forecasting
Day Four;
- Time value of money: A prerequisite for investing decisions
- Required rate of return for investments (RRRI)
- Examples of cash outflows for capital projects
- Examples of cash inflows for projects
- Net Present Value (NPV) calculation
Day Five:
- Defining fixed costs
- Defining variable costs
- Contribution margin
- Computing breakeven point
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