The role of managers is to get work done through the effective and efficient use of the employees they manage and to make responsible decisions regarding their business unit. Based upon these decisions and their business unit’s success, their performance is evaluated and judged by senior managers, according to the financial benefits provided to the organization. Today’s manager needs to be acutely aware of how their decisions and their business unit’s performance impacts the financial strength of their company. For this reason, finance and accounting training for non-financial managers is imperative.
Participants of this course will learn the how to apply financial management principles within their organisation. It includes: planning and monitoring budgets, using financial information to make the most of available resources, achieving sustainability, managing finance to maximise organisational and programme impact. And also how to communicate effectively about financial management with colleagues across the world and across the office.
Who should attend
This course is for non-finance people with an appreciation of finance skills: directors and managers, project leaders, board members, professionals involved in financial and budget control activities.
By the end of this training course, participants will:
• use financial management skills to build strong organizational capacity
• manage budget processes and cash flow and develop the building blocks for financial systems
• evaluate financial information to help an organization become more sustainable
• apply basic financial controls to minimize the risk of errors and theft
• advise a partner on appropriate financial systems and practices and to build its capacity
• recognize cultural differences between ‘finance’ and ‘non-finance’ people, and communicate more effectively when working across cultures
Financial management and planning:
• Financial management needs of organisations
• Financial and management accounting
• Budgeting preparation case study
• ‘Results-based budgeting’
Finance planning and budgeting
• Budgeting ground rules and costing principles
• Budgeting monitoring case study
• Managing ‘cash flow’
• Making budgets easier to understand
• Basic rules of accounting and finance
Financial statements and evaluation
• Building blocks of financial records and systems
• Financial statements: what do they mean and how are they used
• Reviewing financial statements and using them to build capacity
• Working with audits and auditors
• Communication with stakeholder
Strategic financial management and building financial capacity
• Sustainably managing ‘reserves’ and strategies for allocating overheads
• Implementing financial controls and being aware of potential ‘fraud’
• Financial capacity case study
• Calculating the ‘true cost’ of activities
• Improving financial management and programme effectiveness
Financial management communication between finance and non-finance people
• Challenges and benefits of communicating finance
• Identifying work cultures and understanding each other better
• Practical solutions to communicating finance effectively between ‘finance’ and ‘non-finance’ cultures, and internationally
• Strategies for improving relationships
To enhance learning effectiveness, hand on experience will be emphasised in this programme through role-plays in class presentation, group facilitation and class critique.
Case studies, group discussions and video support will also be used to enhance learning experience. Fun quizzes will be injected to provide formative assessment and a fun learning environment.