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."

Trener

Nikola Nikšić, CMC

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Who is the workshop intended for?

The training program “Finance for Non-Financial Managers” 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 the 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 a 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 an analysis of financial statements

Evaluating financial feasibility

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

DURATION: TWO-DAY TRAINING PROGRAM

Finance and Controlling