Finance For Non-Finance Professionals – Ilm Endorsed

Category: Finance For Non-Finance Professionals – Ilm Endorsed

Course Objectives

Participants play all the major roles in an operating company – production, R&D, sales and marketing, management and finance – to get first-hand experience with:

 

  • Team decision-making in each area
  • Generating financial statements
  • Preparing budgets and forecasting cash flow
  • Calculating basic ratios
  • Comparing operating income and ratios to that of competitors
  • Implementing change and measuring results
  • Using ratios and other measurements to identify the ‘buttons’ which drive company performance and behaviour
  • Taking initiative in everyday activities leading to reductions in costs, inventories and working capital
  • Working creatively with customers and suppliers
  • Interpreting operating reports and financial reports
  • Prioritising and controlling costs
  • Targeting profit opportunities
  • Using historical and competitive bench-marking to improve your bottom line
  • How to better serve internal and external customers
  • Seeing how actions impact other areas of the company.

Who Should Attend

  • This 100% practical programme requires a minimum of 12 participants.
  • Managers, Supervisors and Team Leaders who analyse, forecast and plan
  • Sales Managers who make decisions that impact sales and operations
  • Team Members

Benefit of Attending

By the end of this course you will be able to explain:

 

  • Basic financial statements and their management uses: Income Statement (P&L) and Balance Sheet
  • How market conditions impact business decisions
  • The difference between cash and profit
  • Fixed and variable costs
  • Cost structure and capacity utilisation
  • Budgets and cash flow forecasts
  • The impact of inventory build-up
  • The need to control working capital
  • Ratios as metrics for management (ROA, ROI)
  • The specific financial metrics used by your company to gauge performance, and why they are used
  • Effects of strategy changes.

Course Outline

The content is based on a team competition consisting of six business cycles in which teams have full decision-making power and are accountable for the results. In each cycle, teams develop and implement a business strategy for their company, which incorporates real-world dynamics, such as production capacity, customers, prices and financing.

 

Each cycle includes the following activities:

  • Competitor and market analysis
  • Setting prices in a competitive market
  • Monitoring cash flow
  • Preparing an Income Statement, Cash Flow Statement and Balance Sheet
  • Posting, comparing and discussion of results

Teams have opportunities to improve their companies with real-world business solutions including expansion, quality initiatives and niche marketing

 

Finance learning is integrated within the simulation activity include cash flow forecasting, budgets and unit cost analysis.