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ProspenAfrica | Training and Consulting Services Provider

Finance for Non-Financial Managers

3 Day Training

Unit Standard: 252040, NQF Level 5 with 8 credits

Dates: 27 – 29 May | 22 – 24 July 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on Request

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Course Introduction

Finance for Non-Financial Managers (FNFM) is designed to develop financial literacy and create a better understanding of your contribution to strategic decision making. Prospen Africa will provide you with this programme which aims to unscramble the conundrums of reading financial statements, capital budgeting and the importance of cash flow.

 

Decisions employees make daily in business often have a notable impact on the organisation’s financial standing. However, many people do not understand the importance of assessing how their decisions impact the organisations’ bottom-line. Not being able to interpret financial statements fuels this lack of understanding. This three-day programme is for those who want to improve their understanding of the financial ramifications of their decisions – whether these relate to an impact on the income statement, balance sheet or cash-flow statement. Through a mixture of classroom lectures, practical exercises and interpretation of financial statements, this course will help delegates to ‘lift the veil’ surrounding financial data.

Course Objectives

Upon completion of this Finance for Non-Financial Managers 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.

Who should attend?

This course is intended for managers in all economic sectors. These managers would typically be second level managers such as heads of department, section heads or divisional heads, who may have more than one team reporting to them.

Training methodology

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

MODULE 1 – Demonstrating an understanding of the key concepts of managerial finance.

  • The accounting cycle.

  • The role of budgeting and forecasting in the strategic planning process.

  • The accounting conventions applied in the financial management of a unit

  • The financial reports published by the manager’s entity.

MODULE 2 – Interpret financial statements.

  • Financial statements are analysed, using data sources identified and evaluated for authenticity and accuracy.

  • The ratios are applied to measure the profitability and liquidity of an entity.

  • The ratios are applied to measure the working capital and asset utilisation of an entity.

  • The ratios are applied to measure the return of an entity.

  • Recommendations are made regarding the profitability of, liquidity, working capital, return and resource utilisation by the entity using the results obtained from the application of the ratios.

MODULE 3 – Describe and prepare financial forecasts.

  • The types and formats of financial forecasts are identified with examples.

  • Sources of financial forecasts are identified as per the entity’s standard practice.

  • Factors in preparing financial forecasts are outlined in line with entity’s standard operating procedures.

  • Relevant factors are incorporated in the preparation of financial forecasts.

  • Financial forecasts are analysed to determine viability against the entity’s requirements.

MODULE 4 – Draft budgets according to the operational plan of the unit.

  • Budget plans are linked to operational objectives.

  • Operational objectives are established in line with the unit’s strategic plan.

  • The budget is formulated according to standard operating procedures.

  • Drafted budget is reviewed, reflected on, and modified to ensure alignment to the operational plan of the unit.

MODULE 5 – Supervise financial management of a unit against given requirements.

  • Monitoring systems are agreed and adhered to, according to standard operating procedures.

  • Expenditure reports are monitored for the year for each team within the unit against given criteria.

  • Corrective actions are implemented where necessary in accordance with the entity’s policies and procedures.

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