Finance for Non-Financial Managers

This course is designed to improve the financial and commercial knowledge of managers and help them meet financial objectives

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A two-day finance course for non financial managers

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Download: Course Outline

Day One

Session 1 – Fundamentals of Financial Reporting

An overview of finance training for non-financial managers and the core objectives
The key components of accounts:
- Income
- Expenses
- Assets
- Liabilities
- Equity
An introduction to the primary financial reporting statements and the key financial performance indicators:
- Net income – measures of profit
- Balance sheet – capital employed and leverage
Fundamental financial management accounting concepts – accruals vs. cash-based accounting

Case Study Exercise: Identify the key measures of strong financial performance

Session 2 – Understanding Profit and Loss/Net Income

The financial reporting period and the importance of cut-off
Reporting revenue and key principles for revenue recognition
The difference between assets and expenses, and borderline issues such as R&D
Expense categories: direct and overheads
Non-recurring exceptional items

Profit and loss appraisal exercise: The calculation of gross, net margins and EBITDA

Session 3 – Cash Flow Vs. Profit and Loss

What is meant by ‘cash’? Plus, the importance of positive operating cash flows
Accruals compared with cash accounting, with examples including credit sales, purchases, accruals and prepayments
Other non-cash items, such as provisions and depreciation

Exercise – Converting cash profit to accruals profit

Session 4 – An Introduction to the Balance Sheet

The purpose of the balance sheet: creditor protection and the impact on reporting assets and liabilities
Non-current assets and depreciation (amortisation)
This finance for non-financial managers training course covers the net current position, working capital and the assessment of liquidity
Management of working capital: the key issues to remember, such as inventory holding periods
Financial leverage and the concept of ‘cost of capital’

Exercise – appraisal of a simple balance sheet – net current position, return on capital and gearing

Final Comments

An introduction to financial project appraisal techniques such as Net Present Value (NPV), Discounted Cash Flow (DCF) and Internal Rate of Return (IRR)
The role and use of Key Performance Indicators (including financial KPIs) and their use in business decision-making

Day Two

Session 5 – Management of Working Capital

Introduction and overview:
- What is meant by the working capital cycle?
Managing inventory:
- Stock holding periods and the concept of effective inventory reordering
Management of receivables:
- The impact of slow or non-payment
Management of supplier payment terms (as part of overall working capital management)

Finance training for non-financial managers case study: The calculation of the stock holding period, debtor and creditor days and the working capital obligation of the business.

Session 6 – Risk Management

Identifying and reacting to key business risks
Currency risk and financial management issues of foreign currency cash flows
Interest rate risk and the importance of considering the impact of delayed payment terms
Credit risk:
- How should this be reflected in the contract pricing?

Exercise: Appraisal of different customer types. Which is the best for the business overall? (This could include issues such as allocation of scarce resources.)

Session 7 – Project Appraisal Techniques

This session of our finance course for non-financial managers introduces fundamental techniques for evaluating investment projects.

An introduction to common appraisal strategies, including:
- Net present value and discounted cash flows (the time value of money impact)
- Return on investment, internal rates of return
- Payback periods
Additional considerations, such as foreign currency cash flows and inflation

Exercise – case study involving basic project appraisal

Session 8 – Finance for Managers Course Concluding Thoughts

This finance for non-financial managers course considers several issues:
- Long-term contracts and service agreements – how revenue, costs and profits are reported
- Leasing agreements – the impact of capital and operating leases on commercial performance
- Provisions and contingencies – when to recognise a liability
Synoptic exercise – review of an example draft contract or commercial agreement with a typical customer or client

Please note - finance training for non-financial managers allows for short breaks of about 15 minutes in both morning and afternoon sessions.

The Finance for Non-Financial Managers course is delivered by a highly experienced Chartered Accountant. He qualified in 1987 with Gilberts, a six-partner accountancy firm, and went on to join the Business Development Group at Binder Hamlyn after completing an accountancy foundation course that same year. His extensive background brings practical insight and relevance to Redcliffe Training courses.

In 1990, he became a trainer with a prominent training company, focusing on financial and management accounting exam programmes. Over the next four years, he taught auditing, financial reporting, and taxation for ACA, ACCA, CIMA, and AAT exams, as well as the ACA multi-disciplinary case study. He primarily taught full-time courses for Deloitte, PWC, and EY, and was responsible for the ACA final-level auditing paper.

Our finance for non-financial managers training is led by an educator of exceptional calibre, who became Director of Post-Examination CPD Training for Accountants in 1993. In this role, he was responsible for developing financial training programmes for non-accountants, with a particular focus on solicitors. Around the same time, he began training in International Accounting Standards, initially for Ernst & Young’s non-UK-based professional staff across Europe. His expertise in these global standards allowed him to guide multinational teams through complex regulatory frameworks, enhancing their understanding and compliance.

Since 1998, he has been training on a freelance basis, concentrating on finance-based subjects for accountants and non-accountants. He also specialises in training on IFRS and US accounting standards and, for the past 20 years, has presented throughout Europe on both of these subjects.

Alongside finance training for non-financial managers, our specialist has considerable experience in the following topics:

Accounting for financial instruments and insurance contracts
IFRS reporting issues for energy and pharmaceutical businesses
Completion accounts and the role of financial standards in corporate finance transactions
Accounting for business combinations – mergers, acquisitions and all joint and special purpose arrangements.

This Finance for Non-Financial Managers training course will enhance the business decision-making capabilities of managers. It equips participants with the financial understanding required to make informed, strategic decisions that contribute to both the financial and broader operational goals of their organisation.
Attendees will communicate more effectively with colleagues in accounts and finance teams.
Non-financial managers will gain a solid understanding of the relevant concepts whilst improving their ability to contribute to the financial health and strategic direction of their organisation.
Course participants will enhance their commercial and financial knowledge by gaining a solid understanding of the fundamentals of finance and accounting.

Finance for non-financial managers training sets the benchmark for developing a clear understanding of your client's financial requirements.
This course is highly practical, using current real-life examples and illustrations and academic exercises.
The tutor is an accountant with over 20 years of experience explaining corporate financial accounting for business managers and financial terms to non-accountants. Even the most technical aspects of the topics covered will be explained clearly.
We encourage attendees to ask questions, no matter how specific. These will be answered and explained throughout.

Redcliffe’s Finance for Non-Financial Managers course will equip you with the essential financial knowledge and skills needed to perform more effectively in a commercial environment

Content will take you through all the key stages in business financial management, from recording information, reporting financial information to management, understanding financial statements (P&L, cash flows, etc.), and project appraisal techniques and risk management.

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