Course description
Financial Awareness for Non-Finance - In House training course
This training course for non-financial staff covers the essentials of finance, explaining basic financial terminology and concepts and exemplifies the main financial statements produced by a business.
The course is organised in seven training steps that will give delegates enhanced financial awareness and a clear understanding of effective cash management, profit, and business performance measurement. For this bespoke training program, specialists at Financial Fluency will select the most relevant content and tailor it to your business, so that your staff gains relevant knowledge and skills.
Upcoming start dates
Suitability - Who should attend?
This training course is aimed at non-financial managers and is also suitable for anyone who requires introduction to finance and accounting, general financial awareness or wishes to enhance their existing financial understanding.
Training Course Content
This In House training course is designed to cover the following modules:
1. Understand the financial consequences of running a business
Discover where a business gets its money from
Find out what a business does with its money
Appreciate the need to record, analyse and summarise business transactions
Figure out what the finance department does
Identify essential business financial systems
Check financial controls are in place
Know the difference between financial and management accounting
Produce quality management information
2. Get to grips with accounting fundamentals
Make sense of accounting jargon
Discover why not to use ‘cash accounting’ and why timing is essential
Watch out for hidden accounting costs
The basics of debits and credits
Discover what all the accounting books are used for
Understand balance sheets
Understand profit and loss accounts
Understand cash flow statements
Know who uses the financial statements and why
Be aware of accounting regulation and law
3. Know what makes a profit
Know the importance of price and its relationship to volume & revenue
Realise that not all costs are the same
Understand how gross margins work
Appreciate the difference between gross and net margins
Work out the breakeven point and margin of safety
Be aware of tax consequences
4. Manage the cash
Understand why cash is king
Find out where all the cash has gone
Know how to generate cash from stock management
Know how to generate cash from customers
Know how to generate cash from suppliers
Be able to prepare and use a cash flow forecast
5. Prepare and use a financial budget as part of your planning
Know the basics of budgeting
Find the principle budget factor
Chose the best way to budget
Use forecasting techniques to form the budget
Watch out for issues when setting budgets
Watch out for issues when monitoring budgets
Calculate variances from budget
Explore alternatives to budgeting
6. Evaluate opportunities financially
Only consider the relevant costs for decision making
Work out if a business opportunity pays back
Calculate return on the investment
Understand the time value of money
Use established ‘Investment Appraisal’ techniques
Build a financially sound business plan
7. Measure the performance of the business
Understand what constitutes success
Analyse return on investment
Analyse short term solvency
Analyse gearing ratios
Analyse measures investor ratios
Expenses
Financial Fluency deliver this course as in house training for your company staff anywhere in the UK. Experienced instructors at Financial Fluency will deliver tailored and focused courses, spending time getting to know your team, developing your key competencies and offering you a cost-effective solution.
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Financial Fluency: Experienced providers of tailored financial and non-financial training courses
Financial Fluency are a team of highly motivated and experienced trainers who are passionate about helping others learn. Financial Fluency specialise in designing and delivering a wide range of financial and non-financial training courses in a number of highly successful...