2019 Finance for Non-Finance Managers 1 Day (WS8308)
Finance for Non-Finance Managers Training Course
Chartered Management Institute Recognised Training Centre for Finance for Non-Finance Managers Training CoursesFormal Certificates of Professional Development will be issued to participants who successfully complete this training course, in print for the 2-day training course and by email for the 1-day training course. These certificates will be accepted as evidence for CPD purposes by most professional institutes and associations, including the Law Society, the CIM, the CMI, the ICAEW, the Institute of Learning and the CIPD.
Delegate Comments on the Finance for Non-Finance Managers Training Course
'Excellent. The course leader delivered the course in such a way that he kept my attention. I learnt such a lot, feeling far more confident in the world of finance.' Christina Hack - Construction Projects Manager, Crocus Contracts Limited
'I got out of the course exactly what I needed. Put across very well. Not as hard to understand as I thought it would be!' Andrew Callaghan - Manufacturing Manager, Alucast Limited
'Lots of good info and examples. Good engagement with the group.' Dr Christopher Dudfield - Chief Technology Officer, Intelligent Energy Limited
'Good coverage- just what I was looking for. Good delivery and subject knowledge.' Dr Ashley Kells - EC Programme Director, Intelligent Energy Limited
'Excellent! Philip's delivery and clarity are excellent.'
Colin Hunter - Partner, Coodes LLP
'Would Highly Recommend this Positive and Worthwhile Course.'
Daniel Altabas – Director, ADS Joinery Design Ltd
'Phil is very knowledgeable; Great Speaker.'
Tomas Laco - General Manager, CCT Venues
'Very informative and all questions were answered well, with good real life examples given.'
Simin Goff – General Manager, Thorne Leggett Funeral Directors
'Brilliant' David Bence - Consultant, Blacknor Consultancy
Really Useful, Very Helpful, Personal Help and attention, thank you.'
Andrew Chalmers - Managing Director, Ballard Chalmers Ltd
Peter Lamble – Chairman, Coodes LLP
'Excellent Tutor who used appropriate and relevant real life examples.'
Graham McPhail – Head of Education & Training, CITB, Construction & Industry Training Board
'Really Great Practical Examples to bring the concepts to life.' Stephen Bowler - Associate Director, BGL Group Ltd
'Explained the concepts in a manner that was understood by all' Daniel Evans - Senior Fleet Superintendent, AW Ship Management
'An Absolutely Brilliant Training Session on finance for non-financial managers. It was the best training course I’ve ever attended.' Charlotte Sansom - Senior PR Manager, DWF LLP
Philip is Very Enthusiastic and Engaging. The course encourages questions and uses real life examples to substantiate answers, very helpful.' Charles Birkett - Director& General Manager, Ardmore Healthcare Ltd
Great Course, Very Informative and In-depth.' Scott Pudney - Operations Manager, Rosti Automotive Stamford Bridge Ltd
'Fantastic Course, Great Course Leader - Philip made it interesting and brought it to life.'
Nancy Artell – Senior Risk & Compliance Partner, Swinton Group Ltd
'Excellent Overview' Paul Broadhurst - Managing Director,Hauser GmbH UK
'Philip was excellent - knows his subject and delivered it with passion'
Jez Alcock - Chief Executive, Healthwatch Nottinghamshire
'Held my attention!' Dallas Pounds - Chief Executive Officer, Royal Trinity Hospice
'Excellent level of detail and knowledge delivered clearly and with great enthusiam.' Chris Wheeler - Key Account Manager, Gulmay Ltd
'Tremendous course. Course leader was extremely impressive and knowledgeable.'
Lydia Fairfax - Vice President, Legal, Discovery Communications
This is a fantastic course that has given me real confidence to take more of an active role in my businesses' financial operations, Thank you.' Director of a large communications company
'Excellent course. Knowledgeable course leader provided us with all the essential details that a non-finance manager needs to approach financial analysis, backed up with insightful comments and examples, resulting in delegates taking away practical and readily applicable skills.' Operations Manager of a large logistics and storage company
'An excellent course.' Catherine Lewis - Vice Principal, Corporate Services, NPTC Group
'Perfect, best investment I ever made' Michael Waller - Chief Executive, WYP
'An excellent course.' Owen Davies – Business Development Manager, Severn Trent
'Informative and well paced, perfect.' Martin Randall – Sales Director, Vision Plc
'Very interesting, very comprehensive and flexible' Bryony Lester – Superstat Limited
'Tutor was extremely knowledgeable' Lorraine Nicholson – Access Training
'Very good, many thanks' Robert Leach – Mosdorfor CCL Systems Limited
'Philip has an excellent clear and approachable style.' Catherine Gallagher – HR Manager, Crown Prosecution Service
'A great course …... I’ve recommended this internally.'Director of a large practice of chartered surveyors
'I found the analysis of real companies particularly helpful.' Alison Biegel, Operations Manager, Anglia Tours Limited
'I would recommend this course – Enjoyed the course' Peter Crosby – Briton Price Limited
'Phil is simply superb. So knowledgeable and experienced. An excellent course.' Rupert Tate – Chief Executive Officer, Bear Grylls Ventures
Finance for Non-Finance Managers Training Course Overview
Being successful within an increasingly complex and fast moving world with very flat management structures, requires a firm grasp and an in depth understanding of a whole range of financial concepts and skills. This training course is constantly updated to always contain the latest financial issues; it includes information on current financial matters that only came into force in 2019. This two day Finance for Non-Finance Managers training course places great emphasis on hands-on case studies and discussions, where attendees get the opportunity to practice their newly acquired skills and knowledge, to reinforce the learning process and to really integrate them into their core knowledge and skill set. To ensure that the delegates attending this training course will get the maximum possible benefit from their time and that the discussions will be at their most effective; the maximum delegate numbers are normally limited to a maximum of 12.
This Finance for Non-Finance Managers training course will provide the essential knowledge of those key financial management issues and concepts that are needed by successful Managers, Senior Executives, Directors and Consultants in order to remain ahead of their competition. This training course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial management skills. The theoretical knowledge will be reinforced by hands-on case studies.
Attendees of this training course will become highly skilled at reading and understanding Balance Sheets and Profit & Loss Accounts. You will be able to tell the story of the real world operations by looking at the financial accounts. You will become more involved with all types of financial discussions within your organisation. You will be much more confident and comfortable when communicating with financial managers, directors, investors, suppliers and key clients.
The course is ideal for those executives and directors who have had limited direct experience of numerically based business management and analytical techniques. They may therefore wish to take a measured approach to the assimilation and absorption of the new financial knowledge and skills. This objective is easily achieved through a very effective and relaxed approach to learning, which is significantly enhanced by the detailed discussions and extensive case studies. The content of this course is the same as the first day of the 2 day Finance for Non-Finance Managers training course.
You will be able to value possible company acquisitions and disposals, as well as to evaluate the likely change in the market value of your own organisation, as a result of a potential acquisition or disposal. You will understand the purpose of consolidated accounts and the key information hidden within those accounts. The options and selection of the most appropriate legal structure for any business will also be explained.
Finance for Non-Finance Managers Training Course Content
Accounting and the Law
- Accounting principles & policies (GAAP)
- Terminology & Jargon
- The different legal structures under which organisations can operate and their advantages and disadvantages
- The two different sets of accounting rules available and how to choose between them at a senior level
The Three Key Financial Statements
- Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
- Profit & Loss Account, Types of profit, and the layout & use of the profit & loss account. The relationship between profits and dividends
- Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
Using Key Ratios to Analyse Accounts and to Support Investment Decisions
- Return on Capital Employed (ROCE)
- Current Ratios and Quick Ratios
- Debtor Days and Creditor Days
- Stock days and Stock Turn
- Net Present Value (NPV) and Discounted Cash Flow (DCF)
- Investment decisions and Return on Investment (ROI)
- Return on Capital Employed (ROCE) and Gearing
- Return on Investment (ROI) and Cost of capital
- Gearing and its impact upon risk and returns; is the level of borrowing too risky?
- Liquidity, could the company be hit by cash flow problems?
- Profitability, short term and long term; how well is the company really doing?
Working Capital Management and Cash Flows
- Converting operating profits into cash flow
- Cash forecasts
- Cash Management and Liquidity
Revenue and Capital Expenditure
- Capital Expenditure and Revenue Expenditure
- Phasing of capital spend and its implications for budget holders
Depreciation and Amortisation of Assets and liabilities
- What is Depreciation
- What is Amortisation
- Goodwill; its purpose, calculation and impact
Costing and the Impact of Costing Assumptions on Business Decisions
- Cost types & behaviours and their Impact on decisions
- Break-even and Contribution Analysis
- How costs are determined
- Direct and Indirect Costs: Fixed, Mixed and Variable costs
- Activity Based Costing (ABC) and Activity Based Management (ABM)
- Standard Costing, Marginal Costing, Absorption Costing and Activity Based Costing (ABC)
- How frequently used cost allocation methods and calculated profitability by product can cause incorrect key strategic decision making
- Predicting and maximising profits
- How the chosen costing methodology can affect the planning and decision making process
- EBITDA (Earnings Before Interest, Taxation, Depreciation and Amortisation) and PE ratio valuations
- What is your company worth?
- What are other companies worth?
- Goodwill; its purpose, calculation and impact on profits
Training Course Leader
The Course Leader is a Fellow of the Institute of Chartered Accountants of England and Wales, an FCA, and a Chartered Director; the Board Director qualification awarded by the Institute of Directors. He is also a Fellow of the Institute of Consulting and a Fellow of the Institute of Directors. He serves on the Thames Valley Board of the Chartered Management Institute and was the lead Finance for Non-Finance Directors tutor for many years for the Chartered Management Institute. He has just completed 12 years on the Chartered Director and Standards Committees of the Institute of Directors. The Chartered Director Committee of the Institute of Directors was the body that advised the Institute of Directors for more than 12 years, as to what UK Board Directors should know in order to properly fulfil the role of a company director. This committee helped to shape the Institute of Directors examination syllabus in the UK. He has been closely involved at a senior level for more than 20 years, in all aspects of the professional development of company directors and managers; he has also served on a Plc audit committee and a remuneration committee.
In addition to professional executive and director development services, he is actively involved in company acquisitions and disposals, as well as providing board level financial consulting services. He has practical experience of funding new start ups and investments, including raising new Equity Share Capital.
He has over 30 years of successful UK and International experience, including 7 years as the Finance Director, Company Secretary and then the Chief Executive of a Plc, as well as 14 years with KPMG Management Consulting, IBM and Arthur Andersen.
His delivery style is dynamic, approachable and highly engaging, enabling him to deliver a workshop that you will remember and enjoy. His courses are always assessed as "Excellent" by the delegates.
Training Course Learning Objectives
This one day training course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.
By the end of this training course participants will be better able to:
- Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
- Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
- Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
- Understand the key differences between statutory published accounts and the internal monthly management accounts
- Select the most appropriate method of costing for your organisation and to explain the impact of your choice
- Understand the potential impact of costing methodologies upon financial planning and decisions
- Analyse and make sound investment decisions based upon break even analysis and contribution analysis, with a good understanding of their relative strengths and weaknesses
- Identify and discuss the key financial issues facing an organisation
- Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
- Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
- Communicate more effectively and easily with Finance Managers, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.
Who will benefit from attending this training course?
General Managers, Board Directors, Trustees, Company Directors, Principals, Department Heads, Sales Managers, Marketing Managers, Administration Managers, Human Resources Managers, Purchasing Managers, IT Managers, Budget Holders, Production Managers, Technical Managers, Facilities Managers, Site Managers, Property Managers, Advertising Managers, Media Managers, Medical Managers, Charity Heads, Charity Managers, Medical Services Managers, Communications Managers, Logistics Managers, and any other Managers or Executives interested in improving their financial skills and knowledge for the benefit of their organisation and their personal career development.
Internal Staff Training and Development
This training workshop, along with most of our other best practice training workshops, can be delivered as an internal training course at your premises. Even with groups as small as 6-8 delegates, the course fees per person for internal training workshops can be lower than for open events. The potential savings are even greater, if the travel time and the travel costs of the delegates are included.
Running training workshops internally is very convenient and it allows the participants to explore how key issues will impact on them and their organization. Then as a team they can begin to agree upon a development action plan, with priorities. This approach is favoured by many of our clients as it combines a high quality service with excellent value for money and is a highly effective route for staff development.
Certificates of Professional Development.
This course is recognised for CPD purposes by most professional institutes and associations including the Law Society, the CIM, the CMI, the ICAEW, the Institute of Learning and the CIPD. Formal Certificates of Professional Development will be issued by email to participants who successfully complete this course. These certificates will enable participants to evidence the update of their CPD records. The workshop will consider how to best apply the knowledge gained by the delegates upon their return to the workplace. This element of the programme is designed to maximise the benefits of attending and enable participants to make valued judgments when recording CPD activities