Financial Training for Managers

This In-house programme delivers a deeper understanding of business finance through applied training techniques for up to twelve participants

Course Overview

Finance is called the language of business, this is because many of the measures of success and failure in business are expressed in financial terms. As a result having a working knowledge of this language allows the management team to make solid and effective business decisions.

Managers must be conversant with the terminology and statements that accountants use. Technical expertise in projects, service delivery, production or other areas can only really be harnessed if they understand the accounting and reporting that drives the business.

This In-house programme delivers a deeper understanding through applied training techniques. It will provide your management team with the practical financial skills and techniques to ensure business success and profitability for the business.

Who is this In-house training programme for:

  • Managers, technical managers and all those from non-financial disciplines
  • Newly appointed managers, supervisors and team leaders
  • New members of the management team
  • Senior managers with expertise in areas other than finance

Your next step is to call us now on +44 (0)20 7729 6677 or email us at info@falconbury.co.uk or use our contact form and find out how we can help. There are no commitments, and if we cannot help our advice and recommendations are free of charge.

Sample Programme Day 1

What do accountants do?

  • The finance function, types of accountants, financial v management accounting and the treasury function
  • Understanding the role of the finance function
  • How the information you provide may be used

The basic financial statements

  • Balance sheets and income statements (P&L accounts)
  • What they are
  • What they contain
  • What they can reveal – how to read them

The accounting process

  • Transactions to financial statements
  • What underpins the statements – accounting systems and internal controls

Why be in business – from a financial perspective

  • The driving forces behind financial information
  • Performance measures
    • Profitability
    • Asset utilisation
    • Sales and throughput
    • Managing capital expenditure

Accounting rules – accounting standards

  • Accruals, ‘going concern’ – substance over form and other ‘desirable qualities’
  • Accruals – why the timing of a transaction is so important to the finance function
  • Depreciation and amortisation – the concepts and practice
  • Accounting standards – the role of IFRS’s

Cash

  • The importance of cash flow – working capital management
  • Cash flow statements – monitoring overall cash flows
  • Raising cash – levels of borrowing – gearing
  • Spending cash – an outline of capital expenditure appraisal

Sample Programme Day 2

Budgeting

  • Why budget? – what is good and bad practice
  • Determining why budgets play a key role and should not be simply an annual ritual
  • Justifying your budgets – the link between the strategic plan and day-to-day budgeting – alignment of company culture
  • Budgets as motivators – the importance of the right culture
  • Techniques to improve budgeting – whether day-to-day or capital budgeting

Costing

  • The type and detail of costing very much depend on your business, e.g. manufacturing piston rings is quite different from the construction of a power plant
  • Issues with overhead allocation
  • Accounting for R&D

Reading financial statements

  • Annual financial statements: Why they are produced, contents, what you should look for
  • Learning what a set of accounts reveals about a company’s current situation, profitability and future prospects

Performance measurement – analytical reviews and ratio analysis

  • ROI/ROCE
  • Profitability/margins/cost control
  • Sales – asset turnover
  • Efficiency (asset/stock turnover, debtor/creditor days)
  • ‘City’ measures
  • Investment (interest/dividend cover, earnings per share, dividend yield)

Action planning and close of course

Recommended Trainer

Ralph Tiffin is a chartered accountant and registered auditor – principal of McLachlan+Tiffin. The firm has a wide range of clients and supports clients with audit and advisory work in areas such as an introduction to IFRS, ethics and fraud prevention. As a consultant he acts for many companies in the UK and overseas on subjects ranging from understanding finance and accounting for project appraisal, budgetary control systems through to fraud prevention and how proper accounting can help business.