Learning Method: Instructor-led Classroom Learning Duration: 1.00 Day
*Click here to view upcoming Finance Accounting for Management Classes
Overview:
This course is designed to provide managers and leaders without a financial background with essential financial knowledge and skills. This class helps participants understand financial terminology, interpret key financial statements, and apply financial principles in decision-making processes. The course aims to build financial literacy so that managers can contribute more effectively to organizational financial health, planning, and strategy.
Who Should Attend:
- Department heads, team leaders, or managers without formal financial training
- Professionals responsible for budgets, financial reports, or business planning
- Aspiring managers or employees preparing for leadership roles that involve financial oversight
At Course Completion:
By the end of the course, participants will be able to:
Understand financial terminology, interpret key financial statements, apply financial concepts to decision-making, develop budgeting skills, monitor financial performance, and communicate financial information.
Course Outline:
- Introduction to Financial Concepts
- Why financial literacy matters for managers
- Overview of financial vs. managerial accounting
- The role of finance in business decision-making
- Understanding Financial Statements
- Profit & Loss Statement (P&L): Revenue, costs, and profits explained
- Balance Sheet: Understanding assets, liabilities, and equity
- Cash Flow Statement: Monitoring the inflow and outflow of cash
- How these statements interrelate
- Key Financial Ratios and Metrics
- Gross profit margin, net profit margin, return on assets (ROA)
- Liquidity ratios (current ratio, quick ratio)
- Financial health indicators
- Budgeting and Forecasting
- Basics of budget creation: Setting realistic financial goals
- Monitoring and adjusting budgets over time
- Variance analysis: Identifying and responding to budget deviations
- Cost Control and Optimization
- Fixed vs. variable costs
- Break-even analysis: Determining profitability
- Cost-cutting strategies and improving efficiency
- Making Financially Sound Decisions
- Capital budgeting: Evaluating investments and business opportunities
- Return on investment (ROI) and payback period
- Understanding risks and rewards in financial decisions
- Communicating Financial Information
- Presenting financial data clearly and confidently to non-financial colleagues
- Aligning financial decisions with business strategy and goals
- Case Studies and Practical Exercises
- Real-life financial decision-making scenarios
- Group exercises interpreting financial data and making recommendations
