Accounting and Finance Essentials for Managers

Overview

This course is for anyone needing a basic understanding of business finance and insights into operational decision-making. It will:

• show operrational staff the financial consequences of their activities.
• demonstrate the combination of KPIs and regular management information is vital to an organization’s operational success.
• explain how the finance function contributes to the effective use of resources.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Importance of Financial Management

• The elements of financial management
• Key accounting terms and terminology
• How cash and profit differ
• The two main financial reporting statements: the income statement and the balance sheet

Measuring Financial Success

• Measuring management success
• Measuring risk and return
• The importance of cash flow and working capital
• Budgeting and budgetary control

Managing Financial Resources

• The importance of cost behaviour
• Cost management
• Opex and Capex
• Break-even analysis

Communicating with your Accounting Colleagues

• Defining your need for financial information
• Making communication and feedback systemic and systematic
• The use of two way coaching to improve mutual understanding

Course Review

• Summary and recap of key learning objectives
• Action Planning

Target Audience

This course is suitable for staff who wish to improve their understanding of how accounting and finance can help in their decision-making and how this impacts on the organization’s financial position.

Learning Outcomes

Upon completion of this course, you will understand:

• The relevance of finance to operational decision-making.
• The relationship between operational and financial measures.
• Why a deeper understanding of cost and cost behaviour can help operational staff.
• How to implement an Action Plan at your workplace using the knowledge and skills acquired through the course.