Finance for Non-Financial Managers – 3 DAYS
This course is accredited by the Services Seta and the material covers unit standard 242810 at NQF L4 worth 6 credits and unit standard 114738 at NQF L4 worth 6 credits.
COURSE OBJECTIVES
Upon completion of this course, the participants should be able to:
-
Describe financial management terminology, concepts and principles
- Apply various financial planning techniques such as budgeting, cash-flow projections, cost benefit analysis, variance analysis and cost management
- Analyse and interpret financial management statements and reports such as the balance sheet, income and expenditure statement, budget, cash flow projection, variance analysis and assets register
-
Describe valuations and credit management principles and processes
-
Explain how financial decisions are arrived at
-
Give the basic principles of sound business investment decisions
-
Appreciate financial principles of accountability, cost effectiveness, cost efficiency and value for money
-
Apply ratio analysis of financial statements and appreciate the advantages and limitations of ratio analysis
-
Describe financial management success and failure factors
COURSE OUTLINE
The role of management
-
The financial management cycle
-
Your Role in the Company Finances
Accounting Terminology
-
The Balance Sheet
-
Liabilities and Equity
-
Profit and Loss Statement (Income Statement)
-
Cash Flow statement
-
Financial management failure and success factors
-
Centralised vs decentralised financial management
-
Analysing various accounting ratios
Budget planning and management
-
Aligning budgets with management plans
-
Format of the budget submission
-
Preparing a budget
-
Budget and budgeting cycle
-
Different budgeting processes
-
Strengths and weaknesses of various budgeting techniques
-
Cash flow projections
-
Forecasting
Asset management
-
Revenue management
-
Tracking Business Expenses
-
Using Accounting Software
-
Ethical issues surrounding accounting
-
Managing Profit Performance
-
Comparing Investment Opportunities
-
Credits vs. Debits
-
Bookkeeping
Monitoring financial processes and procedures
-
Variance analysis early warning system
-
Analysis and interpretation of financial statements
-
Analysing income statements and balance sheets
-
Apply ratio analysis and percentage of financial statements
-
Advantages and limitations of ratio analysis
Financial reporting and auditing
-
Overview of the auditing function
-
The external audit process
COURSE CONTENT
-
Session One: Introduction and Course Overview
-
Session Two: Balancing self, team & society
-
Session Three: Ethics
-
Session Four: Introduction to financial management and strategic planning
-
Session Five: Time Value of Money
-
Session Six: What is finance?
-
Session Seven: Your role and the role of financial players
-
Session Eight: Budgeting
-
Session Nine: Procurement
-
Session Ten: Accounting and Bookkeeping
-
Session Eleven: Expenditure Control, Early Warning Systems & Variance Analysis
-
Session Twelve: The balance sheet
-
Session Thirteen: Liabilities and equity
-
Session Fourteen: Income Statement
-
Session Fifteen: Cash flow statement
-
Session Sixteen: VAT
-
Session Seventeen: Disposal of tangible assets
-
Session Eighteen: Analysing financial statements
-
Session Nineteen: Managing Profit Performance
-
Session Twenty: Comparing Investment Opportunities
-
Session Twenty one: The Human Aspect
-
Session Twenty two: Auditing and Corporate Governance