Management Centre Europe (MCE)

Fundamentals of Finance and Accounting for Non-Financial Managers

Par Management Centre Europe (MCE)

Objectifs

After taking this programme, you will have develop further your business finance skills and competencies and be able to:

  • Get a better understanding of the numbers side of your job
  • Learn how to “think finance” and translate performance into financial terms
  • Develop proactive working relationships with finance professionals and increase your value to the organization
  • Gain greater confidence with a working knowledge of business financials
  • Understand the business dynamics of cash —and take initiatives that meet your short- and long-term goals
  • Take the guesswork out of your decision making and use financial date to deliver a better bottom line
  • Expand your professional expertise—and your career opportunities

During the programme you will:

  • Network and learn from a diverse group of peers from different functions, industries and countries
  • Develop a personal action plan to implement back at work
  • Learn and practice finance skills using real life examples over 3 interactive days

Programme

The Fundamentals of Finance and Accounting for Non-Financial Managers is a 3-days hands-on training programme, highly interactive with exercises and role plays. The programme will be led by an experienced facilitator with former financial management experience in international companies.

Programme Outline:

Basic Accounting Concepts

  • The Importance of the Accounting Equation
  • The Accrual Process
  • The Difference Between Accounting Profit and Cash Flow

Understanding Financial Statements

  • Understand the Purpose of and Terminology Associated with the Following Financial Statements:
    • Income Statement or Profit and Loss Statement (P&L)
    • Balance Sheet
    • Statement of Retained Earnings
    • Cash Flow Statement
  • Prepare a Set of Simple Financial Statements
  • Understand the Accounting Process, from the Recording of Business Transactions to the Preparation of Financial Statements
  • Understand How Various Business Transactions Affect the Financial Statements

Reviewing an Annual Report

  • Various Components of an Annual Report
  • Importance of Notes in Evaluating Financial Statements
  • External Auditor's Role and the Significance of the Opinion Letter

Evaluating a Company's Financial Statements

  • Calculate the Key Financial Ratios Using the Financial Statements
  • Use Financial Ratios to Evaluate:
    • An Organization's Liquidity, Leverage and Profitability
    • The Performance of an Organization as Compared to Its Competitors'
    • An Organization's Performance Compared with Budgeted Goals
  • Identify Sources of Financial Information Beyond the Financial Statements
  • Use the Dupont Formula to Evaluate Management Performance
  • Use the Concept of Economic Value Added (EVA(R)) and Cash Flow Return on Investment (CFROI) to Determine if a Segment of an Organization Is Adding Value to the Business

Improving Profitability Through Cost Analysis and Profit Planning

  • Differentiate Between Fixed and Variable Costs
  • Help Your Organization Improve Profitability Through the Use of:
    • Break-Even Analysis
    • Contribution Margin Analysis
    • Direct Costing in Appropriate Situations
  • Understand Traditional Cost Accounting and Its Limitations
  • Understand the Relevance of Activity-Based Costing in Today's Business Environment

Capital Expenditure Analysis

  • Distinguish Between Capital Expenditure Budgets and Operating Budgets and Understand the Function of the Capital Budget
  • Understand Why Cash Has a Time Value
  • Recognize and Apply Different Methods of Evaluating Capital Expenditure and Monitoring Project Performance

Budgeting More Effectively

  • Understand the Role of Budgeting and Issues That Budgets Can Solve
  • Understand the Budgeting Process
  • Identify Different Types of Budgeting Systems in Use Today
  • Analyze Budgets for Different Purposes
  • Recognize and Apply Different Methods of Evaluating and Monitoring Operating Performance

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After taking this programme, you will have develop further your business finance skills and competencies and be able to:

  • Get a better understanding of the numbers side of your job
  • Learn how to “think finance” and translate performance into financial terms
  • Develop proactive working relationships with finance professionals and increase your value to the organization
  • Gain greater confidence with a working knowledge of business financials
  • Understand the business dynamics of cash —and take initiatives that meet your short- and long-term goals
  • Take the guesswork out of your decision making and use financial date to deliver a better bottom line
  • Expand your professional expertise—and your career opportunities

During the programme you will:

  • Network and learn from a diverse group of peers from different functions, industries and countries
  • Develop a personal action plan to implement back at work
  • Learn and practice finance skills using real life examples over 3 interactive days
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