European Institute of Management and Finance | Finance and Accounting for Non-Financial Professionals
43415
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Finance and Accounting for Non-Financial Professionals

Finance and Accounting for Non-Financial Professionals

 

To remain competitive and provide a truly top-quality service, all professionals, and especially managers, legal and other professionals serving the international business and finance markets, need to be in a position to read and understand financial information and statements, for both the efficiency of their own departments and business, as well as to be able to develop a stronger understanding of their clients’ requirements.

 

This highly interactive seminar provides participants with a thorough understanding of financial statements, offering the opportunity to learn the key financial concepts and use this information in their everyday work, such as to propose and manage budgets and track initiatives’ financial performance.  It integrates team exercises that will allow participants to practice their new skills in real-life scenarios.

 

 

Training Objectives

 

By the end of the programme, participants will be able to:

 

  • Understand the language associated with finance
  • Know how and when to use financial terms and analysis techniques
  • Read and assess company performance using financial statements
  • Recognize the link between organizational strategy and financial objectives
  • Use “the numbers” to their best advantage to make more informed and sound decisions

 

 

Training Outline

 

Introduction

  • Introductions and course objectives
  • Participants’ own needs and wants from the course

 

The Balance Sheet

  • Understanding different Assets and Liabilities
  • About Fixed Assets
  • Current Assets – what they are and how to improve
  • Current Liabilities – what they are and how to improve them
  • Benchmarking and comparators
  • Key Ratios and trends
  • About Gearing

 

The Income and Expenditure Account (or Profit and Loss Account)

  • The key components of the Income and Expenditure Account
  • Analysing Key ratios and trends
  • Managing different types of Costs and their behaviour
  • Analysing income streams
  • Improving Profitability and Productivity
  • The Power of 1%
  • Profit/Surplus and Cashflow are different things!

 

Management Accounts

  • What Management Accounts should tell us
  • How these figures contribute to overall performance
  • Managing the cashflow as well as the costs
  • Managing variances and making any necessary improvement

 

Using ratios to benchmark our performance

  • How to use the key ratios to benchmark our performance
  • Recognising areas where performance is slipping, and which need management attention

 

Generating ideas to improve financial performance, including people’s productivity

  • Identifying and investing more in high performing assets and activities
  • Identifying and improving underperforming assets and costs

 

Moving from Analysis to Forecasting

  • The principles of Forecasting and Budgeting
  • Revenue Budgets
  • The strengths and problems of traditional budgeting methods
  • 2 other approaches which can complement and improve traditional budgeting methods
  • Budgeting for Projects – how to do a Cost-Benefit Analysis
  • Capital expenditure
  • Cost of Capital issues and the time value of money
  • Where budgeting can go wrong and how to avoid the principal problems

 

Understanding the jargon

  • A free discussion clarifying any remaining questions about terminology and jargonBenchmarking and comparators

 

 

Training Style

 

The programme is designed to deliver knowledge and enhance participants’ skills via presentations, case-studies, practical examples, real-life simulations. Participants will also benefit from customised feedback at the end of the programme and take away the knowledge gained to be transferred to their workplace. Most of the training’s time will be invested in analysing a real-life case study that will help participants understand how to solve problems in similar situations.

 

 

Who Should Attend

 

The programme will provide valuable insight to all professionals with a non-finance background, and will be of particular benefit to:

  • Manager and Departmental Heads
  • Partners
  • Non-financial executives and Directors
  • Senior and junior lawyers.
  • In-House lawyers.
  • Corporate lawyers
  • Legal experts in the financial services industry
  • Legal consultants