FINANCE FOR NON-FINANCE MANAGERS

Live-Online Training: N250,000
Classroom Training: N350,000
3 - 4 participants: 5% discount
5 or more participants: 10% discount

(Available also for Customised Training by Duration, Venue & Fee)

 Programme Description 

Exposure of managers to important financial concepts in day-to-day business transactions. It will help them take better decisions on the basis of financial implications on the business. It will also make managers know how to strengthen the internal control mechanisms.

Broad Competencies Addressed 

• Awareness, understanding and interpretation of the company’s Accounting and Financial statements. 
• Effectiveness on the use of finance and accounting information. 
• Ability to process and screen financial transactions. 
• Comfortable decisions based on Accounting and Financial information. 
• Ability to manage company performance strategically. 

Functional Competencies to Observe 

At the end of the course, participants will display competence in the following eight areas: 

1. Interpret and apply basic accounting terminologies 
2. Judiciously spend and account for funds entrusted in their care 
3. Can generate reports on their financial dealings in their various responsibility areas 
4. Continually follow guidelines and due process in handling the organization’s funds 
5. Desist from fund mismanagement in its entirety  
6. Be in control and responsible for resources put at their disposal 
7. Be  able to keep basic books of accounts to enhance transparency and accountability 
8. Be able to identify and check fraud through internal control procedures. 

Course Contents 

DAY ONE 

• Debit and Credit Explained 
• An Introduction to Profit & Loss (Income) Statement 
• • Revenue 
  • Cost 
  • Gross surplus 
  • Expenses 
  • Overheads 
  • Accruals 
  • Prepayments 
  • Debt management 
  • Depreciation. 
• Financial prudence. 

DAY TWO 

• Understand the Balance Sheets and Published Accounts 
• Define Balance Sheet 
• • The funding side 
  • The investment side 
• Format of the Balance Sheet 
• • Assets 
• Fixed 
• Current  
• Capital employed 
• • Liabilities 
• Working capital management 
• Cash Operating Cycle 

DAY THREE 

• Bank Balances and Cash Management 
• Distinctions Between Profit and Cash 
• Cash flow and its Forecast 
• Management of Working Capital 
• Debtors and Creditors 
• Stock and Inventory Turnover 
• Petty Cash Management 
• • Tracking small cash expenses 
  • The float or imprest 
  • Petty Cash Book and its entries 
  • Minimising fraud. 
• Reconciliation 
• • How the organisation’s statements can vary from cash book balances 
  • Unpresented cheques 
  • Uncredited cheques 
  • Errors and omissions. 

DAY FOUR 

• Accounting Ratios and Investment Decisions 
• How Ratios are Employed 
• • Liquidity ratios 
  • Current ratios 
  • Acid ratio 
  • Current assets and liabilities 
  • Improving liquidity ratios. 
• Interpreting Ratios 
• Profit to Turnover 
• Return on Capital Employed 
• Stock Turn 
• Days Sales Outstanding 
• Gearing. 

DAY FIVE 

• Control of Costs 
• • Overhead costs 
  • Variable costs 
• Pricing Decisions 
• Budgeting 
• • Sales Budget 
  • Profit Budget 
  • Capital Expenditure Budget 
• Taxation 
• • Principles of taxation 
  • What tax means 
  • Types of taxes 
  • Incidence of tax 
  • Tax Avoidance and Tax Evasion 
  • Who benefits from tax 
  • Tax Planning. 
• Accounts and Finance Knowledge for Management Effectiveness: 
• • Judiciously spending and accounting for entrusted funds 
  • Generating reports on simple financial dealings 
  • Following guidelines and due process in handling business funds 
  • Identifying and checking fraud through internal control procedures 
  • Reading the progress of the organization to develop the right strategies.