Finance for the Non-Financial Manager  Short Courses

This Finance short course is aimed at middle to senior managers from disciplines other than finance who wish to understand financial management principles and concepts and how they are put to use in businesses of all sizes.

The course explains the fundamentals of finance with the assumption of basic numeracy skills and provides a good understanding of standard financial statements and operational messages that can be derived from them. It then examines financial and performance ratios, the applications of sales pricing, costing, interest and borrowings, taxation, investment, performance measurements, risk mitigation and hedge fund operations.

Emphasis on this Finance short course is placed on getting students to use the knowledge and skills gained in class immediately in their work and personal life. For successful completion of the course, business knowledge and experience are more important than the size of the organisation; owners of SMEs will find it equally suitable as senior managers of very large multinationals or consultants to large businesses.

Why Choose a City Short Course?

Our Finance for the Non-Financial Manager short course is delivered over 10 weekly evenings and is ideal for anyone looking for maximum flexibility combined with expert tuition.

Course Information

Dates and Fees to be confirmed

Tutor Info

Kulan Mills FCA, FCMA is a Chartered and Chartered Management Accountant with Ernst & Young and KPMG background with over 35 years hands-on business finance and senior management roles in large multinational PLCs covering a wide variety of sectors including manufacturing, engineering, trading, chemicals, shipping, hotels, leisure, public sector, charities and hedge funds. He has been a director of an international consultancy and uses his experience in team working with and training non-financial management colleagues to make the technically complex issues easy to understand, down to earth, practical and immediately useful. His SME (Small and Medium-Sized Enterprise) clients include business start-ups and family businesses. He enjoys providing business development support for growth and profitability as well as for survival in tough times.

Eligibility

Keenness to learn new concepts and how they are used in business is an essential requirement. The  knowledge of simple calculations such as percentages and ratios at a level not more than GCSE maths is needed. Knowledge of Microsoft Excel at a basic level is useful. Classroom exercises require only simple calculations using a calculator. Those with 10+ years working experience will already be exposed to many of the concepts and will find that they gain a lot of usable knowledge.

English Requirements

Good written and spoken English.

What will I learn?

  • Understand the basic principles, terminology and building blocks of financial control;
  • Understand the main financial statements, how they relate to one another and how they can be manipulated as useful management data;
  • Appreciate budgeting as a planning and control too;
  • Recognise different types of cost and how costs can be controlled;
  • Differentiate between cash flow, profit and net worth;
  • Appreciate the financial implications of plans and decisions.

Topics Covered:

CLASS 1

Finance Function:
What, Why and How

Control needs;
Competitive Advantage needs;
Performance & Outlook health check;
Easyjet - (Home work).

CLASS 2Profit and Loss, Balance Sheet, Cash FlowThe contents and what, why, how and when;
How they link up (Trace example in classroom).
CLASS 3Profit and Loss, Balance Sheet, Cash Flow

Understanding messages from figures;
Influencing operations;
Jeanette's Café (Exercise - Home work);
An Excel Model is given to participants to keep and use.

CLASS 4

Sales
Costs and types
Costing Systems
VAT

Pricing, quantity, margins and mix;
Fixed and variable costs; Break even (Classroom Exercise);
Use of different costing systems ABC/ABM, Kanban/Kaizan/Six Sigma
What, why and how;
Fill in a return (Classroom Exercise).

CLASS 5Interest - APR / AER
Managing Capital and Gearing
Funding
What, why and how;
Use of Excel Model (Classroom Exercise) and a model given to keep and use;
Efficient capital management;
Risk, inflation and reward factors;
Sources of finance and Factors influencing cost of finance (WACC).
CLASS 6Investment Returns and Risk
Errors and Fraud
DCF/IRR/Payback/Risk (Classroom Exercise) and an Excel model given to keep and use;
Types, prevention and detection;
Internal control; Internal/external audit.
CLASS 7Budgets and Plans
Personal Tax
The processes; Effectiveness;
Perspectives;
Target setting and rewarding;
Calculate tax (Classroom Exercise);
Check your own tax (Home work)
CLASS 8Business Valuation
Project Evaluation
Basis of valuation;
Use in buying and selling businesses;
Due diligence
aspects and use of a more complex Excel Model (Home work) and a model to keep and use.
CLASS 9Performance Measurement
Personal Investment Portfolio
Financial and non-financial; Balancing scorecard;
Ratios and their relative importance;
Construction and risk balancing;
Hedging and hedge fund operations.
CLASS 10RevisionRevise all topics covered before;
How to keep knowledge warm and add to learning in future.
Classroom discussion and feedback.

Teaching and Assessment

As the course is gradually built up from foundation knowledge in early sessions to applications in later classes students should ensure that they do not miss a class. At least 70% attendance is needed as a minimum. Classroom exercises and home work should be attempted as it reinforces learning when it is checked against answers provided later.

Recommended Reading

Dyson, J.R. (2003) 6th Ed. Accounting for Non-Accounting Students, Pearson

Harrison, J. (1989) Finance for the Non-financial Manager, HarperCollins

Siciliano, G. (2002) Finance for the Non-financial Manager, McGraw Hill Education

Those who wish to learn or brush up on business maths may find the workbook: 'Understanding Business Maths', Kaplan Publishing, ISBN978-1-84710-706-0 a useful aid.

Leads To...

The knowledge gained and useful models given are for use in workplaces and home. As the course attendees come from a wide variety of functional backgrounds and disciplines further learning may lead them to take on an MBA course. It is designed as a cross-learning course; it is not set out as a stepping stone course for those who wish to become accountants or financial analysts.

Career Outcome

Those who are progressed to a middle management level in a medium to large organisation will find that they have a better understanding of corporate finance and can express views on performance and question and challenge financial presentations in team meetings with confidence, address planning and budgeting issues and risk/reward balancing of decisions. Those managing smaller organisations and own/family businesses will learn what is most important to keep an eye on and how to manage growth in size and profit/efficiency in a more informed way. All will find personal finance topics useful for everyday life applications.

Application Deadline: