FA.1: Financial Development for Non-Financial Managers
Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME
|Title||Financial Development for Non-Financial Managers|
|Course Dates||16th-19th October 2023|
|Early-Bird Course Fee||GBP 695 Book the Course|
|Regular Course Fee||GBP 795 Book the Course|
|Early-Bird Registration Deadline||1st December 2022|
|Regular Registration Deadline||1st January 2023|
|Venue||University of Oxford, UK|
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
- 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.
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
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
- 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.