Finance for Non-Financial People (2 Day)
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A general understanding of Finance for Non-Financial Managers is needed in any business environment where individuals have to manage budgets or costs or to take responsibility for revenue or expenditure. With the increasing emphasis on business results it is necessary for every manager to know and understand some of the techniques and actions necessary to ensure that their unit achieves its objectives both in terms of task and also in terms of financial goals. This two-day course is designed to enable individuals, through a series of exercises and inputs, to gain better control over the finances involved in their job.
Pre-requisites
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Managers who have to work with financial information in any organization and for whom finance is not their core skill. Delegates will require a calculator for this course.
Objectives
Upon successful completion of this course, students will be able to:
- understand the importance of accounts.
- manage money.
- practice accounting for business.
- analyze balance sheets.
- analyze profit and loss accounts.
- understand and forecast cash flow.
- identify types of costs.
- analyze and work with budgets.
Course contents
Introduction to the financial system
- The financial system defined
- Savings and investment
- Financial institutions and financial intermediation
- Financial claims issued by households, business and government
- Primary and indirect claims
- Financial markets and intermediation
- Self study questions
Time value of money
- Money and the economy
- The time value of money
- Simple interest
- Variations on simple interest calculations
- Compound interest
- Variations on compound interest calculations
- The real interest rate
- Self study questions
The financial markets
- The Money Market
- The Capital Market
- The Equity Market
- Foreign Exchange and the Foreign Exchange Market
- Economic and financial indicators
- Self study questions
Role of the accountant and basic accounting
- Introduction
- Why does business exist?
- Business organisations
- The accountant and types of accounting
- Self study questions
The Financial Statements
- Building a set of financial statements – Joe’s Catering
- The Balance Sheet
- The Income Statement
- The Cashflow Statement
- Self study questions