Finance & Accounts

FA 1 Financial Development for Non-Financial Managers

Financial Development for Non-Financial Managers

Develop your financial skills so that you can understand the financial picture

Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME

Who should attend?

Those for whom finance is not a significant part of their responsibility, but who will benefit from understanding it in more depth. They will be from all sectors, including private, public and not-for-profit including:

  • Those who are new managers or managers wanting a refresher
  • Budget holders who want to create and manage their budgets more effectively
Course Code:F/A.1
Subject:Finance
Course Fee:£295
Duration:3 Days
Venue:American College, Dubai
  • Operations managers who want to know more about cost management and projects
  • Sales and marketing employees who want to understand financial statements
  • Anyone who needs to understand key accounting concepts, and improve forecasting and cost management skills
  • Managers who are about to be promoted into positions which require financial literacy
  • Managers facing financial decisions or expect to make a contribution to a wider planning process.
  • Junior Managers, Fresh Graduates & Final Semester Students to acquire a promising career in a reputable organization.

Learning Objectives

By the end of the course delegates will be able to:

  • Describe fundamental bookkeeping and accounting concepts enabling them to manage the financial aspects of their role more effectively
  • Compare the different approaches taken in the public and private sector
  • Make sense of key financial statements and some key ratios
  • Manage financial aspects of projects more effectively
  • Participate more knowledgeably in the budgeting process

Course Content

Key Financial Concepts and Principles

  • Bookkeeping versus accounting
  • Cash accounting versus accrual accounting and use in private and public sectors
  • Types of accounts in the General Ledger, their purpose and the chart of accounts
  • Double-entry bookkeeping concepts and implications
  • Depreciation and amortisation

Reading Financial Statements, Public and Private Sector

  • International standards in the private and public sectors, IFRS and IPSAS
  • Format and content of the statement of financial position (balance sheet)
  • Format and content of the statement of profit or loss
  • IPSAS principles of financial statements presentation for the public sector
  • Investor ratios

Management Accounting

  • Financial accounting and management accounting compared
  • Types of management information prepared for internal consumption
  • Financial information managers need to manage – the power of comparisons
  • Analysing costs, key ratio calculations for management and variance analysis, including ROE, ROA and liquidity ratios

Managing the Finances and Costs of Projects.

  • Financial aspects of building the business case and getting approval for funding
  • Estimating project costs – different estimating techniques, expert, analogous, parametric, bottom up etc.
  • Project forecasts, cost variances and cost control
  • Project risks and financial implications

Building an Effective Budget

  • Public sector v. Private sector budgeting differences in purpose, processes and motive.
  • Budgetary methodologies, incremental and zero-based
  • Budget and variance analysis
  • End of week quiz to appraise learning achieved.