Strategic Finance for Non-Financial Managers

Incorporating strategic financial planning, budgeting and forecasting

The aim of this Strategic Finance for Non-financial Managers course is to provide business managers with the essentials of financial management knowledge and skills. To highlight commercial awareness and to gain an understanding of strategic organisational finance in a profit making or not for profit organisation.

This finance course is provided by IPSO FACTO and delivered by our highly experienced Finance trainer. The course is also ideal for those looking to enhance a project management qualification and improve job prospects.

In addition to covering the full content of the 2-day Introduction to Finance for non-financial managers course about business finance, profitability, cash management and the language of finance, you will learn about strategic financial planning and explore profit planning, pricing, budgeting, forecasting and investment appraisal. The course is specifically for non-financial people and will help you understand business from a financial perspective, give you the confidence and insight to engage with finance and contribute to strategic financial thinking and decisions.

You will learn how to interpret financial statements so that you can think financially and ask the right questions about financial performance.  In addition, you will gain a perspective on strategic financial planning and explore planning for profitability, solvency, long term survival and some of the key drivers behind financial judgements.

Is this Strategic Finance course for you?

The course is designed for Managers planning to work in an executive or management role and is suitable for those who have had no or limited formal financial training.  It will benefit those going into a role where there is an expectation of financial understanding, budget management responsibility and financial acumen so that you can contribute to discussions about finance, financial strategy and decision making.

The content is the same as the 2-day Introduction to finance for non-financial managers course with the additional element of strategic finance for those seeking a more comprehensive understanding of financial planning and strategy.

Additionally, the course can help Managers at interview when financial literacy and a strategic overview and commercial awareness of organisations will be an advantage.

Typically, this course would be of benefit for a non-finance executive role, manager, administrator, project manager or team leader role in any number of specialities including engineering, production, services, operations, supply chain management, account management, human resources, sales and marketing – anyone seeking to be business focused and financially aware.

Strategic Finance course delivery

This course is delivered live online using Microsoft Teams, allowing you to learn from home or work.

Course Includes

• Live Online training
• Course handbook and exercises
• Certificate on completion

Aim

Course Objectives

• Understand fully all the major financial statements
• Fully comprehend how financial statements illustrate business performance
• Recognise the key elements within a balance sheet and a profit and loss account
• Appreciate the vital impact of liquidity, cash flow and working capital
• Analyse financial information to assess business performance
• Identify the key elements in budgeting/forecasting, their importance and their impact
• Distinguish between the different cost systems
• Demonstrate break even analysis
• Apply financial skills to project management to assess viability and potential
• Understand the principles of strategic financial planning and decision making

Course Content

Strategic Finance fundamentals

• Types of organisations, legal entities and limited liability.
• The finance and regulatory framework for business and not for profit organisations.
• Business finance and capital – sources, valuations, Angels and Dragons.
• Finance personnel in an organisation.
• Finance systems and source documents.
• System controls and audit.
• Accounting fundamentals, standards, concepts and conventions.
• Cash versus accruals accounting.

Introduction to financial statements

• The key financial statements: Balance Sheet, Income Statement and Cash Flow Statement.
• Revenue recognition.
• Opex and Capex.
• Tangible assets and depreciation.
• Goodwill, other intangibles and amortisation.

Financial performance and control

• Using ratios to read and interpret financial statements.
• Profitability performance measures.
• Operational gearing, working capital and liquidity management.
• Cash flow.
• Supply chain management and inventory.
• Corporate governance.

Strategic financial planning

• The principles of financial planning and budgets.
• Constraints, budgetary slack and padding.
• Methods of budgeting.

The cost structure and strategic profit management

• Understanding cost: types, behaviours.
• Contribution, breakeven and profit planning.
• Margin analysis and profitable pricing strategy.
• Benchmarking.

Strategic Finance decision making

• Margin analysis.
• The time value of money and discounted cash flows.
• Decision making using the tools of Payback, Net Present Value and Return on Investment.