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Opening Hours : Monday to Friday - 10am to 6pm

Address: 1st floor, 35-B, Block A, HBFC
Faisal Town, Lahore, Pakistan

Finance for non-Finance Managers

The success or failure of every business lies in the fundamentals of its financial performance, and the choices made by people at all levels of an organization directly impact the bottom line. Making informed decisions grounded in a solid financial understanding is crucial for every business to remain viable and grow.

Finance for Non-Finance Managers is designed for those outside of the Finance function with budget influence and responsibility. This short course provides a practical guide to analyzing financial data and a solid understanding of financial performance. Make better informed fiscal decisions by learning all aspects of financial management from planning through to budget review and reporting on financial outcomes.

Learning Outcomes

Upon completion of this workshop you will be able to:

- Analyze financial statements to understand performance

- Implement cash management practices

- Understand capital investment decision making

- Plan, develop, implement and control budgets

Workshop Duration

Two Day Workshop

Workshop Overview

  • Welcome and introductions

Course overview, learning outcomes and icebreaker

  • What Do We Mean by “Finance”?

Defines the term finance and explains what it means to be financially literate

  • Language of Finance

Introduces a glossary of financial terms

  • Financial Management Cycle

Introduces the Financial Management Cycle and explains each stage

  • Financial Statements

Explains what a complete set of financial statements entails according to the Pakistan, Indian and British Accounting Standards

  • Assumptions, Estimates, and Disclosures

Examines the inherent assumptions and estimates that are made when statements are compiled

  • Statement of Financial Position

Discusses the elements of a Statement of Financial Position, including the difference between current and non-current assets and liabilities, and how they may differ between organizations

  • Statement of Profit and Loss and Other Comprehensive Income

Discusses the elements of a Statement of Profit and Loss and Other Comprehensive Income, including the difference between cost of goods sold and operating expenses, and how they may differ between organizations

  • Statement of Changes in Equity

Introduces the Statement of Changes in Equity and its purpose

  • Statement of Cash Flows

Discusses the elements of a Statement of Cash Flows and how they may differ between organizations

  • Relationship Between Statements

Explains why managers must look at these reports as collection from a whole-of-organization perspective

  • Impact of Transactions on Financial Statements

Examines how daily transactions impact on financial statements and how this affects the ability to create financial plans

  • Financial Analysis and Tools

Explains the purpose of financial analysis and defines the different types of profitability ratios calculated by organizations

  • Reviewing Financial Performance

Provides an opportunity for participants to put into practice the use of financial ratios to analyse financial performance

  • Revenue and Cost Behaviour

Emphasises that understanding revenue and cost behaviour is key to understanding an organization’s financial position and performance

  • Contribution Margin

Demonstrates the effect of volume on pricing decisions

  • Breakeven Analysis

Explains the process of breakeven analysis, when you calculate the point at which all fixed and variable costs are recovered, with no profit

  • Managing Costs

Introduces and explains the differences between absorption costing and activity-based costing

  • Discussion: Worked Example

Provides participants with the opportunity to put into practice the skills and tools they have acquired through the day with a statement analysis

  • Welcome Back and Review

Recap of key learning from Day 1

  • Establish Budgets

Explores the budgeting process, demonstrating how it typically results in the development of three major budgets

  • Capital Expenditure Budget

Explains the purpose of a Capital Expenditure Budget and provides a six-step process for their creation

  • Present Value

Defines the concept of present value and how it relates to capital expenditure decisions

  • Net Present Value

Defines the concept of net present value and how it relates to capital expenditure decisions

  • Profit and Loss Budget

Explains the purpose of a Profit and Loss Budget and demonstrates how to project revenue for budget purposes

  • Cash Flow Budget

Explains the purpose of a Cash Flow Budget and details the cycle of how cash comes in and out of a business

  • Financing Options

Details three options for financing and the advantages and disadvantages of each

  • Implement and Monitor the Budget

Discusses method for effective budget implementation, from the original communication of the plan to monitoring its performance and taking necessary action to ensure continuing financial viability

  • Using Budgets to Monitor Performance

Explains the importance of an effective information management system

  • Managing Cash Flow Against the Budget

Explores a six-step process to effectively and reliably manage cash flow

  • Managing Accounts Receivable

Highlights the need to manage accounts receivable

  • Budget Variances

Examines the different types of variance that commonly occur in budgets

  • Internal Controls

Explains the concept of internal controls and the role that management play in preventing and detecting fraud and costly financial errors

  • Review Financial Performance

Discusses the methodology for reviewing financial performance, and the ways this process differs between organizations

  • Reporting Requirements

Explains the concept of a manager needing to exercise due diligence and ensure they understand the legislation around reporting requirements

  • Continuous Improvement

Highlights the idea that the best practice for financial management is one of continually seeking out more effective and efficient ways of working

  • Summary, Learning Journal and Close

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1st floor, 35-B, Block A, HBFC Faisal Town, Lahore, Pakistan

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