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EncartaLabs

Finance and Accounting for Nonfinancial Managers

( Duration: 3 Days )

This Finance and Accounting for Non-financial Managers training course transforms financial and accounting concepts into decision-making tools that can be used successfully every day. You will learn to apply the fundamentals of finance to improve budget management, increase potential profits and assess the financial viability of projects.

By attending Finance and Accounting for Non-financial Managers workshop, delegates will learn to:

  • Integrate financial concepts and policies into the management decision and budgeting process
  • Evaluate the financial viability of projects
  • Employ cash flow to analyze business status
  • Calculate the cost of business activities
  • Control business operations through effective budget management

This Finance and Accounting for Non-financial Managers class is ideal for Non-financial managers and anyone who wants to develop their knowledge of financial practices to improve their managerial skills and operational performance.

COURSE AGENDA

1

Why Finance Matters

  • Demystifying financial jargon
  • Generally Accepted Accounting Principles (GAAP)
  • Public vs. private financial methodologies
  • Accountability and responsibility
2

The Key Building Blocks of Financial Control

  • Decoding the income statement
    • Differentiating income, operating and capital expense items
    • Putting the pieces together to measure profit and business success
    • When a sale becomes a sale: sales recognition
  • Analyzing the balance sheet
    • Evaluating the worth of an established business
    • Distinguishing between fixed and current assets and liabilities
    • Defining depreciation and amortization
    • Linking the income statement to the balance sheet
    • Shareholder equity
3

Cash Flow: The Lifeblood of Organizations

  • Making the key connection between business activity and cash flow
    • Differentiating between cash flow, profit and net worth
    • Connecting cash management to line management
    • Credit and cash flow
    • How much cash is enough?
  • The importance of depreciation and amortization
    • How depreciation impacts your budget over time
    • Methods for calculating depreciation
    • Advantages and disadvantages of various key methods
    • Impacting the management budget
4

Managing a Profit or Cost Center

  • Selecting the best costing method for your situation
    • Absorption, marginal, activity-based costing
    • Determining costs in service businesses
    • Avoiding costing traps
  • The unique features of project costing
    • Estimating project duration and future costs
    • Leveraging debt to your advantage
    • Anticipating problems using cost control
    • Making estimates based on incomplete information
  • Choosing projects that optimize shareholders' interests
    • Making the financial case using ROI
    • Advantages and disadvantages of ROI, payback, discounted cash flow (DCF) and NPV techniques
    • Selecting viable projects
5

A Manager's Guide to Budgeting

  • Recognizing that budgets are more than numbers
    • Budgeting as sociology, not accounting
    • The politics of getting a budget approved
    • The relationship between a well-designed budget and how others measure your performance
    • Managing effectively within budgeting constraints
  • Comparing budget approaches
    • Top-down
    • Bottom-up
  • Types of budgets
    • Incremental
    • Zero-based
    • Rolling
    • Others
    • Developing the budget numbers
  • Budgeting as a planning and control tool
    • Using the budget to control the business
    • Limiting factors
    • Budget process and coordination
    • Forecasting sales revenues and expenses
    • Adjusting the budget to reality
6

Pulling It All Together

  • Applying financial tools and concepts in the real world
  • Evaluating a company's health through its annual report
  • Comparing public and private sector practices
  • Recognizing potential traps in creative accounting

Encarta Labs Advantage

  • One Stop Corporate Training Solution Providers for over 6,000 various courses on a variety of subjects
  • All courses are delivered by Industry Veterans
  • Get jumpstarted from newbie to production ready in a matter of few days
  • Trained more than 50,000 Corporate executives across the Globe
  • All our trainings are conducted in workshop mode with more focus on hands-on sessions

View our other course offerings by visiting https://www.encartalabs.com/course-catalogue-all.php

Contact us for delivering this course as a public/open-house workshop/online training for a group of 10+ candidates.

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