Finance for Non-Finance Professionals
Are colleagues from your finance and non-finance departments communicating well with each other? If not, it may be time for non-finance professionals to attend this course. Why is effective communication important for the business? Non-finance managers rely on financial information to make business decisions, with the ultimate aim of improving business performance.
Unfortunately, financial reports, and even finance colleagues, are often misunderstood. This course will explain the “mysterious” basis on which financial statements are prepared and show how the information can be used as a tool for business decision-making. Through this course, participants will come to understand common financial terms and issues – being on the same wavelength goes a long way in lending credibility to proposals which, more often than not, need to be screened by finance department. Participants will also come to realise the impact their actions and decisions have on the financial & business performance of the organisation.
This course will benefit you and your organisation in the following ways:
1. Reduce the risk of making wrong decisions
When relying on financial reports to make business decisions, someone without accounting & finance
background may not be able to harness the right information from the reports. An understanding of the
“mysterious” basis on which financial reports are prepared is vital.
2. Increase the chance of getting finance department’s endorsement on proposals
Understanding common financial terms & issues go a long way in lending credibility to proposals which,
more often than not, need to be screened by finance colleagues.
3. Knowledge acquired in this course can be applied to any type of business or set-up, including
not-for-profit organisations
Detail
| Date: |
04 Jun 2012 - 05 Jun 2012 |
| Duration: |
2, day(s) 9:00AM - 5:00PM |
| Fee: | $780.00 |
| Venue: | 51 Anson Road, #03-53 Anson Centre Singapore 079904 |
Fees are subjected to prevailing GST of 7%
For more information, please contact JobsDB Learning at 65788111 or email to learning@jobsdb.com.sg
Payment must be made before the commencement of the workshop. No cancellation is allowed 7 days prior to workshop.
Outline
Introduction
· Relevance of value creation
· What is “finance”?
Impact of transactions on financial statements
· What information do the following convey – Balance Sheet, Profit & Loss Statement
· Why is accounting profit different from cash flow?
Evaluating & improving performance of organisation
· Measuring & managing profit drivers
· Relevance of WACC (Weighted Average Cost of Capital)
· Measuring & improving efficiency
· Use of value-chain approach in business development & cost management
· Application in not-for-profit organisations
· Relevance of solvency indicators
· Awareness of common investment terms
Budgeting
· Overview of planning process
· Inter-relationship of budgets
· Use of budgets
· Methods of budgeting
· Key considerations in building assumptions
· Checklist for budget preparation
Costing & Cost Management
· Breakeven analysis (including relevance of cost behaviour – fixed and variable)
· Awareness of differing costing methods on cost management, pricing & product profitability
Working capital & cash flow management
· Sources and uses of cash
· Use of Cash Flow Forecast
· Ways of improving cash flow
Evaluating capital investment decisions
· Characteristics of capital expenditure
· Evaluation techniques: Payback period, Net present value, Internal rate of return
Facilitators
Grace Chow runs a company specialising in customised financial training and business consulting service.
She has over 20 years of working experience in public accounting, banking, fund management, and
corporate training. She is highly experienced in training participants with no financial background,
especially sales & marketing professionals and engineers, and at different levels from top management to
executives. Grace has conducted regional financial management & related programs for a wide range of
clients in the Asia-Pacific region, and has worked closely with many in developing and assessing business
plans which cover strategic marketing to process improvement.
Grace holds a Bachelor of Business degree and is a member of the Institute of Certified Public
Accountants of Singapore, CPA Australia and the Malaysian Institute of Accountants.
She is the author of a book titled “Accounting Made Simple – A Layperson’s Perspective” and has also
contributed a chapter to another book titled “The Essence of Financial Accounting”.
Grace’s past & present clients include Asia Pacific Breweries, Barnes Group, Bosch, Cable & Wireless,
Carrier, Caterpillar, Citibank, Clifford Chance, Dumex, General Electric, Health Sciences Authority of
Singapore, Honeywell, Hulhumale Development Corporation of Maldives, ICI, IE Singapore, Keppel Land,
Maersk, Merck/MSD, Mitsubishi, National Semiconductors, Novellus, NTUC Club, OCBC, Osram, Pfizer,
Raffles Medical Group, Rhode & Schwarz, Roche, SAFRA, SATS, SCORE, Shearman & Sterling, Shell,
Singapore Business Federation, Singapore General Hospital, Singapore Mass Rapid Transit, Singapore
National Printers, Singapore Power, ST Aerospace, Telekoms Malaysia, WDA, amongst many others.
Who Should Attend
The course is suitable for the management or staff from any functional area including sales and marketing,
business development and operations. Participants may be in product, project, manufacturing or service
businesses, as well as not-for-profit organisations.
It will also be a good idea for finance colleagues to nominate the appropriate non-finance colleagues to
attend this course.
Objectives
· Interpret financial information correctly for decision-making
· Understand the impact of your decisions and actions (or non-action) on the “bottom-line” performance
of your organisation
· Bridge your communication gap with colleagues from the finance department
· Understand the common yardsticks used in performance evaluation
· Remove any “fear” over finance and the accompanying jargon