Details
About the workshop
Financial management skills and knowledge are not only valued in high performing organisations, increasingly they are a required core competency in any senior manager. Finance leaders and chief executives place a high value on managers who can speak their language and provide a clear picture of financial reality in their plans and reports.
This interactive workshop provides practical insights into accounting and financial management tools necessary to successfully manage a business, division, department, program or project. It will enable participants to understand key accounting terminology, underlying concepts and tools as well as be able to understand the importance and role of major financial statements and reports. It also explores the typical finance and accounting cycles that organisations operate within, and how raw accounting data translates into a set of financial statements.
The course has been designed to provide a much needed toolkit for managers and professionals in a variety of organisations. It focuses on the key skills and tools that can provide an immediate measurable impact upon performance of business units or divisions. The course also provides a valuable and transferrable framework that finance leaders can use to translate key financial tools and concepts to non-financial managers within their organisation.
Agenda
Understanding accounting and finance terminology and theory
- Understanding the difference between management and financial accounting
- Cash versus accrual accounting
Financial statement analysis
- What is financial statement analysis and why it is an essential tool for any senior manager
- Understand and analyse the 3 major financial statements:
- Income statement (statement of financial performance)
- Balance sheet (statement of financial position)
- Cash flow statements (financial analysis of a business)
- Ratio analysis, including consideration of a range of profitability, liquidity and long-term stability ratios
Budgeting, planning and cost management essentials
- Understanding the source (direct and indirect) and behaviour (fixed/variable) of costs
- Reviewing planning cycles and how budgeting fits in
- The key steps in budget preparation
- Forecasting techniques, performance reporting and variance analysis
- Monitoring and control processes
Overview of capital investment decision making
- How owners and managers financially analyse capital expenditure including return on investment
- Payback period, discounted cash flow – DCF; NPV, IRR; time value of money
- Important factors to take into account in a lease versus buy decision
Bringing it all together - Embedding financial acumen
- Financial management in the workplace
- Implementing lessons learned in the day to day operation of the organisation
- Improving the financial awareness of others
Tailor Your Training Experience
To make sure you get the learning solution that’s right for you, we offer different levels of tailoring to suit your needs. Choose from three levels of customisation:
1.Off the Shelf
Love what you see? Great! Choose this option to take one of our most popular courses and bring it in-house for your team. Includes a pre-course consult session with our facilitator to make sure we hit the mark, and deliver the right learning experience for you.
2.Customised
Make sure you get the most from the course you choose, by tailoring the content to get the right fit for you. Speak to our team, who will work with you to pick and mix from a curated bank of training modules to help customise your learning experience.
3.Premium
Not on the list? Let us know what you’re looking for and we will find the right solution. Our team of learning specialists will work with you to develop a unique training course for your business. Through an in-depth consultation process, we will work with you to profile your learning needs and build a bespoke program from the ground up.
Speak with one of our team today to find which option is right for you.
Who Will Attend
Managers and professionals from a variety of organisations in roles spanning:
- Executives / Senior
- Management
- Divisional Management
- Operations Management
- Business improvement
- Strategy / Planning
- commercial Business Units
- Project Managers
- Asset Managers
- Finance and Accounting
- Professionals