Finance and Budgets for Non Finance Managers

• Get a firm grasp of the numbers side of your job
• Gain greater confidence with a working knowledge of business  financials
• Learn how to “think finance” and translate performance into financial terms
• Cultivate proactive working relationships with finance professionals and enhance your value to the organization
• Understand the business dynamics of dollars and cents—and take initiatives that meet your short- and long-term goals
• Take the guesswork out of your decision making and deliver a better bottom line
• Expand your professional expertise—and your career opportunities

• Middle managers (non financial)
• Bookkeepers
• Budget preparers
• Responsibility centre managers (cost centre, profit centre, department, division, branch)
• Senior executives (non finance)
• Finance department staff
• Entrepreneurs and business owners

Basic Accounting Concepts

• The Importance of the Accounting Equation
• The Significance of Generally Accepted Accounting Principles (GAAP)
• The Accrual Process
• The Difference Between Accounting Profit and Cash Flow

Understanding Financial Statements

• Understand the Purpose of and Terminology Associated with the Following Financial Statements:
  • Income Statement or Profit and Loss Statement (P&L)
  • Balance Sheet
  • Statement of Retained Earnings
  • Cash Flow Statement
• Prepare a Set of Simple Financial Statements
• Understand the Accounting Process, from the Recording of Business Transactions to the Preparation of Financial Statements
• Understand How Various Business Transactions Affect the Financial Statements

Reviewing an Annual Report

• Various Components of an Annual Report
• Importance of Notes in Evaluating Financial Statements
• External Auditor's Role and the Significance of the Opinion Letter

Evaluating a Company's Financial Statements

• Calculate the Key Financial Ratios Using the Financial Statements
• Use Financial Ratios to Evaluate:
  • An Organization's Liquidity, Leverage and Profitability
  • The Performance of an Organization as Compared to Its Competitors'
  • An Organization's Performance Compared with Budgeted Goals
• Identify Sources of Financial Information Beyond the Financial Statements
• Use the Dupont Formula to Evaluate Management Performance
• Use the Concept of Economic Value Added (EVA(R)) and Cash Flow Return on Investment (CFROI) to Determine if a Segment of an Organization Is Adding Value to the Business

Improving Profitability Through Cost Analysis and Profit Planning

• Differentiate Between Fixed and Variable Costs
• Help Your Organization Improve Profitability Through the Use of:
  • Break-Even Analysis
  • Contribution Margin Analysis
  • Direct Costing in Appropriate Situations
• Understand Traditional Cost Accounting and Its Limitations
• Understand the Relevance of Activity-Based Costing in Today's Business Environment

Capital Expenditure Analysis

• Distinguish Between Capital Expenditure Budgets and Operating Budgets and Understand the Function of the Capital Budget
• Understand Why Cash Has a Time Value
• Recognize and Apply Different Methods of Evaluating Capital Expenditure and Monitoring Project Performance

Budgeting More Effectively

• Understand the Role of Budgeting and Issues That Budgets Can Solve
• Understand the Budgeting Process
• Identify Different Types of Budgeting Systems in Use Today
• Analyze Budgets for Different Purposes
• Recognize and Apply Different Methods of Evaluating and Monitoring Operating Performance