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Financial Management for Non Financial Professionals

Rating:
4.8
English
Intermediate
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Course Overview

Financial Management for Non Financial Professionals is a comprehensive four-day program designed to equip participants with essential knowledge and skills in finance.
Through interactive learning experiences and practical exercises, participants will gain a deep understanding of financial accounting, analysis, forecasting, budgeting, valuation  and project evaluation. The course aims to enhance participants' financial acumen, enabling them to make informed financial decisions and contribute to organizational success.
By the end of the course, participants will have developed the ability to read financial statements, perform financial analysis, forecast and budget effectively, evaluate investment projects, and determine the value of investments and companies.
 

Key Takeaways

1
Understand financial terminology: Have the ability to read and understand financial statements, and use the correct terminology in their discussions with finance professionals and management.
2
Analyze financial statements: Apply financial analysis techniques to interpret financial statements and evaluate a company's financial performance and health using appropriate key performance indicators (KPIs) with relevant focus on profitability, efficiency, liquidity and solvency.
3
Forecast and budget: Employ forecasting techniques and budgeting processes to predict future financial outcomes, develop budgets, and analyze variances between actual and projected figures.
4
Make better business decisions: Use the knowledge gained from a better understanding of finance and forecasting to improve their decision making with a full knowledge of the impact on various aspects of the business.
5
Determine the value of investments: Assess the feasibility of investment projects using various capital budgeting techniques including net present value (NPV) and internal rate of return (IRR), to improve strategic investment decisions.

Babson College
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Founded in 1919, Babson College is the top-ranked college for entrepreneurship education. We believe that entrepreneurship is the most positive force on the planet for generating sustainable economic and social value, and Babson is a dynamic living and learning laboratory where more than 3,000 students from over 70 countries work together with faculty and staff to address the problems of business and society. In our collaborative community, students gain the fundamental business skills and liberal arts knowledge necessary to cultivate an entrepreneurial mindset. They then use that mindset to put what they learn into practice, making an impact on campus and around the world.

Course Outline

Module 1: Introduction to Financial Accounting and the Income Statement
LEORON covered part

•Overview of financial accounting and its role in providing information to internal and external stakeholders.
•Understanding the purpose and components of financial statements, including the Income Statement, Balance Sheet, and Cash Flow Statement.
•Review of financial statements for large publicly traded multinational corporations, and guidance on where to find relevant information.
•Detailed exploration of the Income Statement, including revenue recognition principles, expense classification, and presentation formats.
•Practical application exercises to reinforce concepts and enhance understanding.

edX covered part

Supplementing the module with knowledge checks from the “Financial Accounting Made Fun“ course on edX

Module 2: The Balance Sheet and Cash Flow Statement
LEORON covered part

•Comprehensive examination of the key elements of the Balance Sheet, and the classification and presentation of assets, liabilities, and equity.
•In-depth understanding of the Cash Flow Statement, including the three main sections: operating activities, investing activities, and financing activities.
•Interpreting the relationship between the Income Statement and the Balance Sheet, and how changes in one statement affect the other.
•Hands-on exercises and case studies to reinforce learning and develop analytical skills.

edX covered part

Supplementing the module with knowledge checks from the “Financial Accounting Made Fun“ course on edX

Module 3: Financial Analysis and Understanding the Company's Costs
LEORON covered part

•Significance of financial analysis in decision making and evaluating a company's financial performance.
•Analysis of financial ratios (e.g., net income margin, return on assets) to evaluate a company's profitability and efficiency.
•Examination of further ratios (e.g., current ratio, debt ratio) to assess a company's short-term liquidity and long-term solvency.
•Understanding cost behavior and classifications, such as direct vs indirect costs, and fixed vs variable costs.
•Application of cost-volume-profit (CVP) analysis to understand the relationship between costs, volume, and profits.
•Real-world case studies and practical examples to apply financial analysis techniques and cost concepts.

edX covered part

Supplementing the module with knowledge checks from the “Financial Accounting Made Fun“ course on edX

Module 4: Forecasting and Budgeting
LEORON covered part

•Introduction to forecasting techniques and their relevance in budgeting and planning.
•Discussions of various approaches to budgeting, and comparison between these approaches.
•Comprehensive understanding of budgeting, including the budgeting process, components of a budget, and its role in controlling and planning.
•Discussion of various approaches to forecasting revenues and expenses.
•Review of approaches for forecasting working capital, and other operational assets.
•Linking the forecasted asset requirement to the funding sources in the budgets.
•Practical exercises, group discussions, and case studies to develop forecasting and budgeting skills.

edX covered part

Supplementing the module with knowledge checks from the “Financial Accounting Made Fun“ course on edX

MODULE 5: Analysing Budgets and Project Budgeting
LEORON covered part

•Understanding of the need for budget control and the relevance of responsibility centers.
•Creating a performance report to highlight any variances from budgets.
•Analysing the variances between budgets and actual results, and techniques for understanding the causes for these variances.
•Discussion of the key differences between creating corporate budgets and project budgets.
•Project budgeting considerations, including estimating project costs, revenue projections, and risk assessment.
•Interactive case studies and group activities to analyze budget variances and develop project budgeting skills.

edX covered part

Supplementing the module with knowledge checks from the “Financial Accounting Made Fun“ course on edX

MODULE 6: Valuation and Project Budget Evaluation
LEORON covered part

•Overview of valuation approaches, including relative valuation and fundamental (intrinsic) valuation.
•In-depth review of techniques for the initial screening and evaluation of investment projects based on the payback period and accounting-based rate of return.
•Detailed review of DCF techniques and the time value of money for valuing projects, financial instruments and companies, including determining the appropriate discount rate.
•Using DCF techniques to assess the feasibility of investment projects, including the calculation of the project’s net present value (NPV) and inherent rate of return (IRR).
•Real-life examples and interactive exercises to reinforce valuation concepts.

edX covered part

Supplementing the module with knowledge checks from the “Financial Accounting Made Fun“ course on edX

Who Should Attend?

This highly practical and interactive course has been specifically designed for
→ Non-finance staff in departments such as HR, Supply chain, IT, Sales, Marketing, Operations
→ Managers of non-finance functions such as HR, Supply chain, IT, Sales, Marketing, Operations
→ Senior Directors of Non-finance divisions
→ Any finance staff who would like a refresher on the financial concepts covered

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FAQ

What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected].
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.

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