Course Overview

Did you know that 70% of SMEs in Ghana with managers trained in financial literacy saw improved access to finance and a 25% increase in profitability? This reality underscores the critical importance of financial literacy for non-finance managers in driving business success and operational efficiency.

Our comprehensive Finance for Non-Finance Managers Course equips professionals with the skills needed to interpret financial statements, manage budgets, and make informed decisions that align with organizational goals, transforming financial data into actionable insights for measurable business impact.

Why This Course Is Required?

Financial literacy for non-finance managers is critical to bridging the gap between operational decisions and organizational financial health. Research shows that 70% of SMEs in Ghana with managers trained in financial literacy saw improved access to finance and a 25% increase in profitability, underscoring the direct link between financial acumen and business success.

In public sectors, municipalities without budget management training face inefficiencies, with 40% of projects failing due to misaligned resource allocation. Without financial knowledge, managers risk making decisions that lead to budget overruns, missed opportunities, and reduced organizational performance. 

This course is essential for organizations aiming to enhance decision-making, control costs, and align departmental goals with corporate strategy. By mastering financial concepts, non-finance managers can contribute to profitability, ensure compliance, and foster investor confidence, driving sustainable growth.

Course Objectives

By the end of this Finance for Non-Finance Managers Course, participants will be able to:

• Use financial information to manage and assess your company or department operations
• Manage and reduce costs (fixed versus variable costs)
• Control working capital and manage the impact of inventory build-up
• Practice and use a range of accounting methods, tools, and techniques available to manage financial risks in your organization
• Interpret the language of accounts and break down barriers of understanding
• Get confidence to prepare budgets and read Management Information

Transform your financial acumen and drive business success-enroll today for immediate impact!

Training Methodology

This collaborative Finance for Non-Finance Managers Course delivers a powerful, immersive learning experience through carefully selected methodologies that balance theoretical knowledge with practical application. We’ve designed each element to ensure participants not only understand financial principles but can confidently apply them in real-world situations, creating immediate impact within their organizations.

• Classroom sessions with presentations
• Group discussions
• Problem-solving exercises
• Group activities
• Projects

Zoe Talent Solutions customizes each training program to meet the learning expectations of the participants and relate it to their professional backgrounds and experience. Participants are encouraged to share their experiences, issues, hesitations, and best practices from their respective organizations, which are discussed in detail by the course facilitator. We follow the Do-Review-Learn-Apply Model, ensuring a structured, participatory approach for maximum retention and application.

Who Should Attend?

This course would be suitable for:

• Those in managerial positions (junior up to top-level) in an organization who need a contextual understanding and practical hands-on experience in the principles of corporate finance

Organizational Benefits

Organizations who nominate their employees to participate in this Finance for Non-Finance Managers Course can benefit in the following ways:

• Use common financial language to communicate effectively with finance professionals within the organization
• Interpret the financial health and state of a company, division, or responsibility center
• Compute and understand widely used financial KPIs
• Apply management accounting techniques & procedures of ‘product costing, cost-volume-profit analysis, budgeting, & variance analysis’
• Know the link between corporate and financial strategy
• Cost Control: South African municipalities reduced budget overruns by 22% post-training, enabling better prioritization of public projects 
• Strategic Alignment: SMEs in Ghana increased compliance with financial regulations by 35%, reducing audit discrepancies and fostering investor confidence

Additionally, organizations investing in financial literacy for non-finance managers see improved operational efficiency and decision-making. Research indicates that trained managers contribute to a more financially aware culture, leading to better resource allocation and a stronger bottom line, as evidenced by SMEs in Ghana achieving a 40% improvement in loan approval rates due to enhanced financial reporting practices. 

Empower your organization with financially savvy managers-enroll your team today and see the transformation in business performance!

Personal Benefits

Individuals who participate in this Finance for Non-Finance Managers Course can gain from it in the following ways:

• Understand the functions of financial management and its role in running the business
• Identify the significance of accounting choice and its impact on the financial statements
• Apply capital budgeting techniques and cost-volume-profit analysis for better decision making
• Know the purpose of the three significant financial statements: ‘Income Statement, Statement of Financial Position, and Cash Flow Statement’

Course Outline

Module 1 – Basic Accounting Concepts

• The Accounting Process
• Cash Vs. Mercantile Accounting
• Accrual Concept
• Stock Valuation – FIFO Vs. LIFO
• Types of Accounting
• Revenue Recognition
• Cap-ex. vs. Op-ex.
• Understanding of Depreciation/Amortization
• Tangible vs. Intangible vs. Capital W-I-P
• Current vs. Non-current

Module 2 – Introduction to Financial Statements

• Profit & Loss Account including OCI
• Balance Sheet and SOCIE
• Cash Flow Statement
• Notes to Accounts

Module 3 – Financial Statement Analysis

• P&L Statement Analysis
• Balance Sheet Analysis
• Funds Flow Analysis
• Ratio Analysis
• Trend Analysis
• Common Size Analysis

Module 4 – Working Capital Management

• Concept of Working Capital
• Managing Inventory and Trade Receivables
• Managing Trade Payables
• Budgeting and Working Capital Management

Module 5 – Capital Budgeting

• Capital Expenditure Evaluation
• NPV Technique
• IRR Technique
• Pay Back Method
• Risk Analysis

Module 6 – Cost Management and Costing Techniques

• Cost Concepts
• Various Costing Methods
• Breakeven Analysis
• Costing Vs. Budgeting
• Strategic cost management

Module 7 – Revenue Management

• Revenue Recognition and possible revenue leakages
• Revenue Vs. Trade Receivables
• Revenue Vs. Trade Payables
• Revenue Vs. Foreign Exchange Management

Module 8 – Introduction to IFRS

• Introduction to the concept of Accounting Standards
• Generally applicable IFRS
• Discussion on Specific IFRS

General Notes

• All our courses can be facilitated as Customized In-House Training course.
• Course duration is flexible and the contents can be modified to fit any number of days.
• As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
• The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
• FREE Consultation and Coaching provided during and after the course.

Real World Examples

The impact of finance training for non-finance managers is evident in leading organizations:

• Selected Municipalities in South Africa
  Implementation: Introduced budget management training for non-finance managers to address project delays and resource misallocation.
  Results: Achieved a 22% reduction in budget overruns and improved transparency in public fund utilization, enhancing service delivery. 
• SMEs in Ghana
  Implementation: Financial literacy programs for SME managers focused on interpreting balance sheets and cash flow statements.
  Results: Saw a 25% increase in profitability and a 40% improvement in loan approval rates due to better financial reporting practices. 
• Non-Finance Firms in Nigeria
  Implementation: Training on structural capital efficiency and human resource budgeting for managers in manufacturing and retail sectors.
  Results: Achieved 30% higher operational efficiency and a 15% reduction in wasteful expenditure within six months. 

Be inspired by real-world success-register now to build the financial skills your organization needs for enhanced performance!