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Finance for Non-Financial Managers

"Finding where we are" in relation to where we were and where we want to go "will enable improvement, sustainable growth and development."

Who is the workshop intended for?

The workshop is aimed towards:
a) owners and managers who wish to familiarize themselves about the basics of accounting and finance,
b) top and middle management of profit and not-for-profit organizations,
c) the management of non-financial departments (sales, marketing, purchasing, etc.) who wish to acquire basic knowledge in the fields of accounting and finance.

Training objectives

In modern business environment which is characterized by significant recessionary pressures and intense competitor activity, the importance of effective financial management is crucial for the companies' survival and continued development.In order to appropriately manage the business, it is necessary to understand the business processes within the company. One of these elementary processes, without which it is not possible to start and maintain the operations, is the process of finance.Managers have long used the term "accounting language of business" - understanding of accounting and financial concepts is the foundation for holistic thinking and business management.Participants will learn about the basics of accounting and finance, the financial reports, the way of financial planning, analysis and evaluation is done.

Workshop content

  • Finance – an integral element of the business processes
  • The role of finance in the company
  • The relationship and differences between accounting and finance
  • Basic financial reports
  • Practical exercise: Correlation of financial reports
  • The term accounts and chart of accounts
  • The process of posting to the accounts of profit and loss account
  • The process of posting of account balances
  • Practical exercise: Case records of business events

Basic Financial Statements: Profit and Loss (P & L)

  • The main elements: income and expenses
  • The basic structure and profitability levels
  • Accounting rules and standards that affect the profit and loss
  • Practical exercise: Example of the impact of business events on the P & L

 

Basic Financial Statements: Balance Sheet

  • The main elements: assets, liabilities and equity
  • Assets and its sources
  • Financial accounting balance correction
  • Practical exercise: Example of the impact of business events on the Company’s balance sheet

 

Basic Financial Reports: Cash Flow

  • The main elements: inflows and outflows of cash
  • Business, investment and financial flows of money
  • Methods of the cash flow
  • Practical exercise: Development of a simple statement of cash flows

 

Financial Planning

  • Sources and use of funds
  • Cash Cycle
  • Elements of financial plan
  • Practical exercise: Development of a financial plan

Financial Analysis

  • Introduction to Analysis
  • Basic methods of analysis
  • Analysis of financial ratios
  • Practical exercise: An example of analysis of financial statements

Evaluating financial feasibilty

  • Present and future value of money
  • Nett Present Value
  • Internal Rate of Return
  • Practical exercise: Example assessment of financial feasibility of the project