2019 Finance for Non-Finance Managers 2 Days (WS8412)
Finance for Non-Finance Managers Training Course
The 2 days can be spread across two non-consecutive dates
Chartered Management Institute Recognised Training Centre for Director & Manager Training Courses. This 2 day training course is a CMI Recognised Training Course.Formal Certificates of Professional Development will be issued to participants who successfully complete this training course. These certificates will be accepted as evidence for CPD purposes by most professional institutes and associations.
Excellent Delegate Comments on the Finance for Non-Finance Managers 2 Day Course
'A very informative two day course on all matters finance. Provided a good knowledge of Finance.' Steven Knowles – Regional Director, Harworth Estates Limited
'Very engaging. Knowledge and experience of Philip very good.' Ashleigh Dinsmore – Sales Director, Aptar UK Limited
'Excellent content. Logical method of instruction. Both relevant and interesting.'
James Ormrod – Chief Legal Officer, International Personal Finance Plc
'An Excellent introductory finance.' Daniel Allen-Baines – Offshore Operations and Performance Manager, E.ON Climate
'Excellent delivery and pace of content.' Leon Elston – Managing Director, Coppice Alupack
'Excellent two days with fantastic depth of information. The information was interesting and relevant.' Geordie Willis – Creative Director, Berry Bros & Rudd Plc
'Very informative and fast paced.' Sonya Russell – Business and Development Manager, Architectural Decorators Limited
'Very well informed instructor and good material.' Dr James Milnes – R&D Manager, Photek Limited
'Good content conveyed in an engaging manner - real examples brought it to life.' Michael Augur – Regional Director, Muse Developments Limited
'Very informative and interactive course .'
Ricky Daniels – Managing Director, Joseph Lamb
'Many thanks, I have enjoyed the course and learnt a lot. The delivery has been really good. The second day has helped a lot in consolidating the concepts.' Carmen Colomina – Practice Director, Social Care Institute for Excellence
'Excellent delivery at a great pace.' Maria Iredale – Executive Director, Petroleum Society of Great Britain
'Philip is engaging, knowledgeable, very good at guiding the delegates and also (very importantly for this topic) encouraging.' William Wainman – Managing Partner, Ecoffins LLP
'Very informative, thoroughly enjoyed the course and took a huge amount out of the two days - thank you.'
Katie Bowden – Group Business Director, Global Media and Entertainment
'Varied in-depth learning, which was informative as well as thought provokinge. I leave more knowledgeable '
Paul Lane – Operations Manager, Harlands Group
'I had no idea how exciting this subject could be.' Christopher Schmidt– Managing Director, Sakura Finetek Germany
'Very informative. Style of presentation very good. Presenter very knowledgeable and helpful'
Peter Lane – IT Operations Director, BMW UK Ltd
'Excellent course. Upon completion more knowledgeable on the subject. Will recommend to colleagues'
Paul Doyle – Operations Director, Bauer Technologies Ltd
'Very interesting and useful course.'
Andrew Naismith - Managing Director, CAE UK Plc and CAE ATS Plc
'Excellent tutor who used appropriate and relevant real life examples.'
Graham McPhail – Head of Education & Training, CITB, Construction & Industry Training Board
'Very good course with a huge amount covered and great insights.'
Adrian Thomas - Director of Broadcast Schedule Operations, Discovery Communications Ltd
'Perfect way to learn about a rather difficult topic, good explanations and examples.'
CEO, large Danish medical equipment company
Really Great Practical Examples to bring the concepts to |life.' Stephen Bowler - Associate Director, BGL Group Ltd
'Excellent course, very knowledgable course leader'
Damian Kerry - Director, Sunray Engineering Limited
'Phil delivered the course in a superb style: engaging and informative.' Steve Doyle - Director, A.D. Construction Group
'An excellent course.' Sukhjit Gill - Managing Director, Inclusive Technology
'A really helpful course for understanding Financial Statements.'
Anne Norris - Director, Gallium Fund Solutions Ltd
'Excellent course.' Thomas Peace - Director, Jonarve
'Fantastic course' Fiona Simons – Director of Content Operations, Discovery Communications Ltd
'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
'Invaluable to any director'
Abigail Lock - Director, Croydon Churches Housing Association
'Superb knowledge and application.' Ben Ward – Commercial Director, Willmott Dixon Energy Services Ltd
'Insightful, Useful, Relevant and Interesting - Thank you'
Ian Mogey - Director, Chemring UK
'Well delivered and the vast knowledge of Philip, combined with down to earth approach makes for easy understanding' Darren Payne – Director, Rhodar Limited
'Very interesting – Superb overview'
Mark Barfield – British Triathlon Federation
Finance for Non-Finance Managers Training Course Overview
This course is assessed as "Excellent" by its delegates.
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 12 attendees.
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.
The course will be 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, especially on day 2 of the training course.
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.
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
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.
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 two 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 structured methodological 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 an 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.
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