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Course Overview
For business professionals without a formal financial background, understanding finance can be a real challenge. Despite this, you will regularly be faced with situations where this knowledge is taken for granted.
This comprehensive course is designed to help all non-finance professionals appreciate the key concepts of finance and how you can use this understanding to not only improve your own performance but driving the business as a whole. It will clarify the subject of finance and leave delegates with a clear understanding of the most common financial terminology used in business enabling you to communicate with your colleagues and stakeholders more effectively.
The course will provide the crucial skills for being able to read and interpret the financial information and reports that are regularly being presented.
This practical course will give delegates an appreciation of finance and what it means to their business which will allow them to be more successful and influential in driving their business forward.
Course Content
The basic principles of finance
Understanding and using financial statements:
- Balance sheet
- Profit and Loss
- Cash Flow
Understanding the linkages between the financial statements
Understanding what the financial statements do not tell you
Recognising the difference between profit and cash
Managing and improving profit
Applying breakeven analysis
Strategies to improve margins and contributions
Assessing organisational financial health
Use of financial ratios
Setting budget to deliver a financial strategy
Benefits
How to understand and interpret organisation’s financial statements
How to identify and make use of the financial information most relevant to individual job roles
The language and terminology to use when communicating with colleagues in financial roles
The difference between profit and cash flow and how it can be managed and improve them both
Understanding the components of financial health
The role delegates can play in setting budgets and developing your organisation's strategy
Prerequisites
None
Course Tutor
David Joel
David Joel is a professionally qualified, Chartered Director. He is a qualified physicist with 20 years in the defence engineering and technology sectors and 10 years in the services and facilities management sector mostly at board level. David’s experience covers public sector, private sector and regulated companies. He has undertaken many board effectiveness reviews and has worked with the Institute of Directors delivering the ‘Finance for non-Financial Directors’ programme and the ‘Leadership’ programme for the certificate in company direction and was a lead facilitator for the Diploma in Company Direction for the Institute of Directors.
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