2020 Finance for Non-Finance Managers Essential Updates 1 Day (WS8426)
Chartered Management Institute Recognised Training Centre for Manager and Director Training Courses
Coronavirus Restrictions - All Booked Courses will be delivered live online on a Virtual Boardroom basis at exactly the same time on the same days as the originally booked course until further notice.
This will allow all delegates to remain at home as requested by Boris Johnson and still benefit from the booked courses. The maximum delegate numbers, breaks, timings and all other course details will remain unchanged.
In addition once the current restrictions are lifted, all Virtual Boardroom delegates will be automatically offered a free place on one of our equivalent standard in person courses.
Delegate Comments on the Finance for Non-Finance Managers Training Course 2020 Essentials Update
'The course has great content and gives a good understanding of business finance. Course will enable me to understand my business accounts better.' Roger Pleasants - Board Director, Project Solver Limited
'Excellent course. Upon completion more knowledgeable on the subject. Will recommend to colleagues.' Paul Doyle – Operations Director, Bauer Technologies Ltd
'Excellent tutor who used appropriate and relevant real life examples.'
Graham McPhail – Head of Education & Training, CITB, Construction & Industry Training Board
' Massively useful - it was like opening a book that I now have a greater understanding of'
Adam Godfrey - Senior Partner, Stiles Harold Williams LLP
'An excellent course.' Sukhjit Gill - Managing Director, Inclusive Technology
'Excellent second day' Graham Batters – Regional Manager, Ball and Young Ltd
'Good number of examples made what I expected to be a dry subject interesting'
David Elsy – Partner, Withers & Rogers LLP
'Second day in particular was helpful to put concepts in place and to discuss issues related to our own organisations - thanks'
Hanneke Lam – Business Manager, Agrinatura EEIG
'Very interesting and useful course.' Andrew Naismith - Managing Director, CAE UK Plc and CAE ATS Plc
Finance for Non-Finance Managers Training Course - 2020 Essentials Update
This training course builds upon your previous knowledge and experience. It will elevate you to the top 2% of any group of Board Directors or Senior Executives, in terms of your analytical financial, decision making and business management skills. This training course is being constantly updated to always contain the latest financial issues and includes information on financial matters that will only come into force in 2020 and therefore first apply to accounting periods starting on or after 1 January 2020.
The day primarily covers: Strategic Business Valuations; The impact of finnacial policy decisons upon the Bottom Line and the Balance Sheet, Costing methods and their very significant impact upon decision making; traditional budgeting versus Zero Based Budgeting; the interaction of ROCE (Return on Capital Employed), Gearing and ROI (Return on Investment) upon the Corporate Risk and Reward profile; Consolidated Accounts and EBITDA, Earnings Before Interest, Taxation, Depreciation and Amortisation; Company Acquisitions and Disposals; Strategic Financial Risk Management; 2019 and 2020 accounting changes and Maximising Shareholder Value.
There will be some foundation topics that will be summarised and reviewed, followed by topics and concepts that will be new to most delegates, including the recent compulsory financial changes effective 1 January 2018 and 2019. All of the learning points will be reinforced through the extensive use of case studies and hands on exercises. There will also be the opportunity to analyse your own financial accounts, or those of a competitor or another company that you are interested in.
You will become supremely confident and capable in all types of financial discussions. You will become more confident in your contributions and abilities, when communicating with financial professionals and other managers, directors, investors, suppliers and key clients.
Compared to our 1 day standard Finance for Non-Finance Managers training course, this training course places a much greater emphasis on recent major financial changes, decision making and hands-on case studies, where attendees get the opportunity to practice and reinforce the skills and knowledge learned and really integrate them into their core knowledge and skill set, so that their use becomes instinctive and automatic.
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 12 attendees
Finance for Non-Finance Managers Training Course Content - 2020 Essentials Update
Summary Financial Overview
- Accounting laws and standards
- UK and EU Financial Reporting Standards, key differences and which is best for you
- Fundamental Accounting Concepts
Forecasts and Budgets
- The purpose of forecasts for the business
- Budget objectives and cascading budget objectives
- Budgetary Control as a management tool
- Historic v Zero Based budgeting methods
- Variance Analysis
- Their purpose and definition
- Goodwill evaluation and its stated value and impact in the accounts
- Amortisation of intangible assets and their impact upon dividends
- Definition and Management of ROCE (Return on Capital Employed), Gearing and ROI (Return on Investment)
- Maximising profits by managing the interactions of ROCE, Gearing and ROI
- Maximising EBITDA, Earnings Before Interest, Taxation, Depreciation and Amortisation
Company Acquisitions and Disposals
- Further Consideration of EBITDA (Earnings Before Interest, Taxation, Depreciation and Amortisation) and PE ratio valuations
- The valuation of target company acquisitions
- The treatment of company acquisitions and disposals
- The impact of company acquisitions and their timing upon your financial results
- The financial pitfalls relating to acquisitions and disposals
- The impact of acquisitions upon the market value of the organisation
Strategic Financial Risk Management
- Identifying and evaluating Strategic Financial Risks
- The financial quantification of Strategic Risks
- Early warning indicators and red flags
- Implementing a Strategic Financial Risk monitoring framework
Financial Operational Management
- 2019 Lease Changes and their major impact upon the Balance Sheet and EBITDA
- 2018 Changes to the recognition of sales and profits in the P/L, arising from long term projects
- Financial Pension Issues
- Financial Sales Funnel Management
- Financing of Organic Growth & Acquisitions
Enhancing Company Value and Return to Shareholders
- The importance of Company Valuation
- Maximising Shareholder Value
- Acquisitions as a tool to enhance shareholder value
- Management of Shareholder Value and Growing the value of the Company
Other Financial Factors and their Influence on Decision Making
- The interaction of the different forms of taxation and business planning
- Accounting policies as significant drivers of operational business decisions
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.
The course tutor is a very well qualified and highly experienced individual. 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, based upon the average across all of the delegate evaluations.
Training Course Learning Objectives
This 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
- 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
- Understand the basics of budgets and the implementation of budgeting processes
- Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
- Evaluate potential company acquisitions in terms of their market price and the likely impact upon the market value and key financial numbers of your own business
- Communicate more effectively and easily with Finance Managers, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.
- Evaluate and identify the financial impact of Strategic Risks and understand the concept of a Strategic Risk early warning indicator framework
- Understand the purpose of consolidated accounts and recognise the hidden red flags within the numbers
- Select the most appropriate legal structure for a business and understand the principal legal and financial duties of the Board.
Who will benefit from attending this training course?
General Managers, Board Directors, Trustees, Company Directors, 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.
Delegate Comments on the Finance for Non-Finance Managers Training Courses run by this Course Leader
'Excellent course.' Thomas Peace - Director, Jonarve
'Fantastic course' Fiona Simons – Director of Content Operations, Discovery Communications Ltd
'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
'Very good course and good supporting documentation' Alex Low – Contracts Manager, Seajacks UK Limited
'Good examples (cases), which made presentation very good and easy to understand'
Azra Loncarevic-Srmic –Director of Screening & Research, Cardiac Risk in the Young
'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
'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
'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
'I would recommend this course'
Ben Rowles – CSE Education Systems
'Comprehensive look at accounts, budgets and cash flows.'
Commercial Manager, Signpost Ltd
'Good information for an overall view on finance'
Manpreet Bhella – Care Training East Midlands Limited
'Very interesting – Superb overview'
Mark Barfield – British Triathlon Federation
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