22 - 26 Sep 2024
Istanbul (Turkey)
Hotel : DoubleTree by Hilton Istanbul Esentepe
Cost : 5250 € Euro
In today’s business world, understanding financial concepts is not just the responsibility of finance professionals. Every department, from operations to marketing, plays a role in the financial health of an organization. This program, "Finance for Non-Finance," is designed specifically for professionals without a financial background, aiming to demystify financial principles and empower participants to make informed business decisions. Through this program, participants will gain a solid grasp of financial statements, budgeting, cost analysis, and financial decision-making, enabling them to contribute more effectively to their organization’s success.
Managers and team leaders from non-financial departments
Professionals in marketing, operations, HR, and IT
Entrepreneurs and small business owners
Anyone interested in gaining a basic understanding of finance to enhance their decision-making capabilities
To provide a clear understanding of basic financial concepts and terminology.
To enable participants to read and interpret financial statements.
To teach budgeting and financial planning techniques relevant to non-financial roles.
To introduce cost analysis methods and their application in everyday business decisions.
To empower participants to make financially informed decisions that contribute to organizational goals.
Day 1:
Introduction to Financial Concepts
Overview of key financial terms and concepts
The importance of finance in business operations
The role of finance in strategic decision-making
Understanding the difference between profit and cash flow
Day 2:
Reading and Understanding Financial Statements
Introduction to the three main financial statements: Income Statement, Balance Sheet, Cash Flow Statement
How to read and interpret each statement
Key financial ratios and what they indicate
Practical exercises: Analyzing sample financial statements
Day 3:
Budgeting and Financial Planning
The importance of budgeting in non-financial roles
Steps in creating an effective budget
Different types of budgets: Operational, Capital, and Cash Flow Budgets
Tools and techniques for budget monitoring and control
Case study: Developing and managing a budget in a non-financial department
Day 4:
Cost Analysis and Control
Understanding costs: Fixed, variable, direct, and indirect costs
Techniques for analyzing costs and identifying cost-saving opportunities
The role of cost control in achieving financial efficiency
Practical exercises: Cost analysis scenarios in non-financial contexts
Day 5:
Financial Decision-Making for Non-Financial Managers
Introduction to financial decision-making processes
Evaluating the financial impact of business decisions
Basic principles of investment analysis: Payback period, ROI, and NPV
Practical application: Making a financially informed decision in your department
Review and Q&A session to consolidate learning