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Finance and Accounting for Non-Financial Professionals

₦180,000 ₦150,000
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Please see below an outline for our Finance for Non-Financial and Accounting Professionals course, which is available as an open or in-house training course for your staff. The course will be tailored to your company needs.

Knowing how to finance assets, forecast future cash flows, maintain a budget, determine which operations are profit generators and which are not, and judge the real economic merits of different investment opportunities will help you stay in business and turn a profit.
Being able to calculate and assess the overall financial health of your business is an important part of an owners or managers position. This course provides the fundamentals of financial literacy and gives you the smart advice you need to increase your impact on financial planning, budgeting and forecasting.
The course will explain what you need to know to be an intelligent consumer of financial information, to plan, and to use financial concepts in making better business decisions.

Programme Objectives

Having completed the programme, participants should be able to:
• Explain the functions of financial management
• Use financial language to communicate more effectively with financial professionals
• Understand the key financial statements and their purpose; balance sheet, income and cash flow
• Interpret an organization, or profit centre using ratios and breakeven analysis
• Use of budgeting, forecasting and planning to evaluate and control the business
• How to use financial information to help them manage their business
• Demystify financial information and have confidence and control to make financial decisions.

Method & Approach

The programme is designed to give the managers enhanced learning through use of a variety of activities; case studies, individual and group exercises, question and answers opportunities, presentation to each style of participant learning.
The sessions will be interactive and optimise the experiential learning process. Each delegate will leave with a personal development plan on how they will use the learnings.

Who should attend?
Non financial managers and anyone who wants to develop their knowledge of financial and Accounting practices to improve their managerial skills for the development of an organization to world class standards.
Finance and Accounting for Non-Financial Managers Course content
Day 1

The Need for Financial Intelligence

Understanding the foundation
Understanding the art
Understanding analysis
Understanding the big picture

Finance within the Organization
The makeup of the finance function

Managing Money

Where does money come from?
Where does it go?

Accounting for Business

The three key questions
• How are we doing?
• How did we do?
• What are we going to do?
• Financial Accounting and Management Accounting – the differences

Annual Report
The key elements of published reports and accounts.

Balance Sheet
 Types of assets
 Types of Liabilities
 Working capital

Profit and Loss
 Revenue
 Types of Costs
 Levels of Profit
 Layout

Day 3

Revenue and Costs
Relationship between revenue and costs
Marginal Costs and Marginal Revenue
Opportunity costs
Breakeven analysis
Law of diminishing returns
Profit maximization

Ratio Analysis
Types of ratios

Reasons for budgeting
Variance analysis
Types of budgets
Human side of budgeting
Tips for successful budgeting

The Cost of Capital and Capital Investment Appraisal
Defining the cost of capital
Weighted Average Cost of Capital (WACC)
Capital Asset Pricing Model (CAPM)
The capital investment process
Capital Investment appraisal
Payback period
Accounting Rate of Return
Net Present Value (NPV)
Internal Rate of Return (IRR)
Capital rationing

Strategy and Financing the Business
Financing the business, including short-term versus long term, and debt versus equity
Understanding the drivers in your business
Building your management dashboard
The effect of competitive strategy and how to gain competitive advantage
• The balanced scorecard and critical success factors
• Avoiding paralysis by analysis
• Introduction to economic value added (EVA)

Course format
Practical: This course is heavy on reality and light on theory. Our trainers will introduce the concepts clearly, and then focus on real-world skills that connect the big picture to your job. Courses are updated regularly and trainers are active in the industry so your knowledge will be fresh and relevant.

Active: Training consists of concise briefings on best practice, backed up by interactive learning activities like workshops, role-plays, case study analysis, coaching, brainstorms and structured group discussions. You will not sit passively through long lectures.

Stimulating: This course is interesting, intellectually stimulating and delivered in a relaxed and professional style.

Inspiring: All REMOIK Pinnacle trainers are hands-on communication professionals with years of experience. We don’t employ academic teachers – we insist on good-humoured enthusiasts who will inspire your creativity.

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