Finance for Non-financial Managers

The programme

Programme overview

Finance for Non-Financial Managers (FNFM) is designed to develop financial literacy and create a better understanding of your contribution to strategic decision-making. Ratomac 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 organisation’s bottom line. Not being able to interpret financial statements fuels this lack of understanding. This 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.

Who should attend

Who is this programme for?

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.

• Managers in All Economic Sectors
• Second-Level Managers Such as Heads of Department, Section Heads, or Divisional Heads
• Anyone Who Has More Than One Team Reporting to Them

Learning outcomes

What you will learn

• 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, including how AI tools like Copilot and ChatGPT can help you interpret these more confidently
• 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

Explore the programme

Detailed programme outline

2-Day Essentials — Training Outline

• The accounting cycle, and the role of budgeting and forecasting in strategic planning
• The financial reports published by your entity
• Analysing financial statements using reliable data sources
• Applying ratios to measure profitability, liquidity, working capital, and return
• Using AI tools like Copilot or ChatGPT to help interpret ratios and reports more confidently, and to draft plain-language summaries for your own team
• Types and sources of financial forecasts
• Linking budget plans to your unit's operational objectives
• Monitoring expenditure reports and identifying variances
• Taking corrective action in line with entity policy
• Deciding whether the 5-Day Comprehensive programme is the right next step

5-Day Comprehensive — Training Outline

• 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
• Financial statements analysed, using data sources identified and evaluated for authenticity and accuracy
• Ratios applied to measure the profitability and liquidity of an entity
• Ratios applied to measure the working capital and asset utilisation of an entity
• Ratios applied to measure the return of an entity
• Recommendations made regarding profitability, liquidity, working capital, return, and resource utilisation, including how AI tools like Copilot and ChatGPT can help draft clear, plain-language summaries of these findings for non-financial colleagues
• The types and formats of financial forecasts, identified with examples
• Sources of financial forecasts, identified as per the entity's standard practice
• Factors in preparing financial forecasts, outlined in line with standard operating procedures
• Relevant factors incorporated in the preparation of financial forecasts
• Financial forecasts analysed to determine viability against the entity's requirements, including how AI-assisted forecasting tools now help managers sense-check projections against historical trends
• Budget plans linked to operational objectives
• Operational objectives established in line with the unit's strategic plan
• The budget formulated according to standard operating procedures
• Drafted budget reviewed, reflected on, and modified to ensure alignment to the operational plan
• Monitoring systems agreed and adhered to, according to standard operating procedures
• Expenditure reports monitored for the year for each team within the unit against given criteria
• Corrective actions implemented where necessary, in accordance with entity policies and procedures
• Using AI-powered dashboards and reporting tools to get faster, clearer visibility of expenditure trends without needing deep technical finance skills

Learning approach

How you will learn

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.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.