Training Course on Finance for Non-finance Managers

Training Course on Finance for Non-finance Managers

Introduction

Understanding financial principles is essential for professionals in all managerial roles, regardless of their primary expertise. Training Course on Finance for Non-finance Managers is designed to empower non-finance professionals with the knowledge and skills to interpret financial data, manage budgets, and make informed business decisions. This course demystifies financial concepts, making them accessible and applicable for managers in diverse fields. Financial literacy enhances decision-making capabilities, enabling managers to contribute more effectively to their organization’s strategic goals. Through this training, participants will learn how to analyze financial reports, understand key performance indicators, and align departmental budgets with organizational objectives. With an emphasis on practical applications, this course bridges the gap between finance and non-finance functions.

Organizations benefit immensely from managers who understand financial impacts, fostering better cross-departmental collaboration and efficiency. This training equips participants with the tools to communicate effectively with finance teams, align strategies with financial goals, and identify opportunities for cost optimization and revenue growth. Whether you're an operations manager, a marketing executive, or a project leader, this training will enhance your professional confidence and competence. By gaining a solid grasp of financial fundamentals, you can lead your teams with greater insight and drive measurable business success.

Course duration

5 days

Course Objectives

1. Understand the fundamentals of financial management and accounting principles.
2. Interpret financial statements such as balance sheets, income statements, and cash flow statements.
3. Analyze key financial performance indicators and ratios.
4. Develop and manage departmental budgets effectively.
5. Understand the basics of cost management and cost allocation.
6. Learn the importance of cash flow management in business operations.
7. Gain insights into capital investment decision-making and ROI analysis.
8. Enhance collaboration and communication with finance teams.
9. Identify financial risks and opportunities in business scenarios.
10. Apply financial knowledge to improve organizational decision-making.

Organizational Benefits

1. Improved financial literacy across managerial levels.
2. Enhanced decision-making capabilities based on financial insights.
3. Better alignment of departmental strategies with financial goals.
4. Strengthened collaboration between finance and non-finance teams.
5. Increased efficiency in budget planning and cost management.
6. Enhanced risk management through informed decision-making.
7. Greater accountability in resource allocation and utilization.
8. Optimized financial performance across the organization.
9. Improved ability to identify growth opportunities and cost-saving measures.
10. Fostered a culture of financial awareness and strategic thinking.

Target Participants

This course is ideal for:

• Non-finance managers across all industries
• Operations and production managers
• Marketing and sales managers
• Project managers and team leaders
• HR professionals involved in budget planning
• Entrepreneurs and small business owners
• Administrative managers handling budgets and expenses
• Supervisors transitioning into managerial roles
• Professionals seeking to enhance financial literacy
• Consultants advising on non-financial aspects of business operations

Course Outline

Module 1: Introduction to Financial Management

• Overview of financial management and its importance
• Key financial terminology for non-finance managers
• Understanding the relationship between finance and strategy
• Basics of accounting principles and financial reporting
• Case Study: Understanding financial impacts of strategic decisions

Module 2: Financial Statements and Analysis

• Components of income statements, balance sheets, and cash flow statements
• Interpreting financial ratios and performance metrics
• Identifying trends and red flags in financial statements
• Connecting financial data to business operations
• Case Study: Analyzing a company’s financial health

Module 3: Budgeting and Cost Management

• The role of budgeting in financial planning
• Developing and managing departmental budgets
• Understanding fixed, variable, and overhead costs
• Strategies for cost reduction and optimization
• Case Study: Effective budget management in a project scenario

Module 4: Cash Flow and Working Capital Management

• Importance of cash flow in sustaining business operations
• Managing receivables, payables, and inventory efficiently
• Identifying and addressing cash flow challenges
• Ensuring liquidity for operational continuity
• Case Study: Resolving cash flow issues in a growing business

Module 5: Investment and Financial Decision-Making

• Basics of capital budgeting and ROI analysis
• Evaluating investment opportunities and risks
• Understanding payback period, NPV, and IRR calculations
• Strategic financial planning for long-term success
• Case Study: Making investment decisions for organizational growth

Module 6: Financial Communication and Collaboration

• Enhancing collaboration between finance and non-finance teams
• Presenting financial data to non-financial audiences
• Aligning financial goals with organizational objectives
• Effective communication of financial impacts to stakeholders
• Case Study: Building trust and transparency in financial reporting

Methodology

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.