Introduction:

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.

Target Audience:

• 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

Objectives:

• 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.

Outlines:

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