Finance for Non-Finance Professionals
September 01– September 05 \ 2024 : Istanbul
Introduction
Finance for non-financial professionals is aimed at providing participants with the basic financial principles. In this course participants will learn to transform financial and accounting concepts into decision making tools which can be used successfully every day. Participants will learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial performance of business activities. They will also understand the terminology used by accounting and finance staff and will feel more confident when being involved with them or using them so that they can do a better job and get prepared for senior management positions where financial awareness is crucial.
Objectives
By the end of the course, participants will be able to:
Þ Enable participants to define the key financial statements: balance sheet, income statement, cash flow and changes in owner equity as well as key financial terms such as profit, margins and leverage used in organizations.
Þ Enable participants to interpret the financial health and condition of a company, division or responsibility center and using financial information for management and evaluation.
Þ Learn how to distinguish between accounting and finance and explaining the finance role in running businesses.
Þ Enable participants to prepare a company's operating budget and relating it to the organization's strategic objectives.
Þ Learn how to apply capital budgeting techniques and cost-volume-profit analysis to enhance decision making.
Who Should Attend?
Þ Managers and supervisors
Þ Staff from any function, including finance, need to improve their understanding and usage of financial information.
Course Methodology
The course uses self-assessments and a wide mix of business cases that promote healthy discussions around the importance of managing multiple tasks, deadlines and priorities. Participants will benefit from role plays covering workplace challenges related to handling tasks, deadlines and priorities. They will learn how to deal with conflicts that may arise as a result. Interactive team exercises are also used with each team presenting their findings and comments.
Each module covers different aspects of using Game-Based Learning and Gamification in education. Coursework will incorporate
your existing knowledge and experience and provide helpful learning environment with a good mix of theoretical and practical knowledge. On all outlines will apply Skills for Game-Based Learning and Gamification and practiced in hands-on, collaborative way within an international group setting.
This interactive training course includes the following training methodologies as a percentage of the total tuition hours:
- 30% Lectures, Concepts, Role Play
- 30% Workshops & Work Presentations, Techniques
- 20% Based on Case Studies & Practical Exercises
- 20% Videos, Software & General Discussions
Pre and Post Test
Outline
DAY 1:
The Key Financial Statements
Þ Understanding the accounting cycle
Þ The five main accounts in financial statements
Þ Income statement: A tool for performance measurement
Accrual basis versus cash basis
Þ Balance sheet
Þ Statement of owners’ equity
Þ Statement of cash flows
Þ Wrapping-up: The cycle of financial statements
Þ External and internal auditors’ responsibilities
DAY 2:
Analysis of Financial Statements
Þ Why ratios are useful
Þ Horizontal and trend analysis
Building blocks, analysis, and reading through the numbers:
Þ Liquidity ratios: Ability to settle short-term dues
Þ Solvency ratios: Ability to settle long-term dues
Þ Activity ratios: Ability to manage assets efficiently
Þ Profitability ratios
Þ Limitations of financial ratio analysis
Working capital management
Þ Definition of working capital and working capital management
Þ Various working capital management strategies
DAY 3 :
Operating Budget Processes and Techniques
Þ The meaning of the operating budget
Þ Steps to budget development
Þ Master budget components
Þ Sales forecasting
Þ Approaches to budgeting
Þ Incremental budgeting
Þ Zero-based budgeting
Þ Budgetary control and correction
DAY 4 :
Capital Budgeting: The Investing Decisions
Þ Examples of decisions involving capital budgeting exercise
Þ Time value of money: A prerequisite for investing decisions
Þ The required rate of return for investments
Þ Examples of cash outflows for capital projects
Þ Examples of cash inflows for capital projects
Þ Net Present Value (NPV) calculation
Þ Internal rate of return (IRR)
DAY 5 :
Cost Behavior Concepts and Breakeven Analysis
Þ Defining fixed costs
Þ Defining variable costs
Þ Contribution margin
Þ Computing breakeven point
Þ Sensitivity analysis: changing assumptions
Fees:
The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is:
4.250 USD $
Schedule:
08:30 – 10:15 First Session
10:15 – 10:30 Coffee Break
10:30 – 12:15 Second Session
12:15 – 12:30 Coffee Break
12:30 – 14:00 Third Session