Finance for Non-Financial Managers and Executives (Public Training)

Accounting and Finance has always been recognized as a very key function in any organization. It provides the basis for information reports to be generated from these records to help managers to make a more informed and effective decisions to increase their organizational performance.

Accounting and Finance will forever be an extreme asset and vital aspects to one’s career and organization success. It is a “NEED TO KNOW” subject matter.

Hence this training workshop will help all Non Finance Managers to increase their Performance and Communication effectiveness in their daily Accounting Work through new knowledge acquired.

Learning Objectives

1. Know the fundamentals and concept of Accounting and Finance in practice
2. Know the Accounting Standard and Policies requirements in used.
3. Explain the documentation control requirements in transaction processing.
4. Comprehend the various key Accounting and Financial Terms used in the Accounts and Financial Statements.
5. Utilise Financial Statement information for decision making.

Target Participants

• All Non-Financial Managers, Executives, Professionals and Personnel.

Methodology

• Course notes
• Participative and active, group discussions, and
• Group hands on exercises.

As this is a training workshop, participants besides attending lectures are also required to work together in pairs and groups to have hands on exercise to recap the learnings together . Hence a calculator is required and are welcome to bring their own computer. Participants are also encouraged to bring their real working questions for discussions.

Duration:2 Days

Course Outline

Introduction

1. Introduction of Accounting and Finance and its various key terms use daily.
2. The role of Accounting and Finance in business,
3. Difference between Financial & Management Accounting and Financial Management.
4. Accounting Standards and Policies
5. Accounting Concepts and Equations

Financial Accounting Function

1. Accounting Transactions processing and its matching concept for internal control.
2. Difference between Capex and Opex.
3. Classifications of Opex – by Function and by Nature
4. Accruals, Provisions for Payable expenses, Prepayments, Depreciation & Amortization and Impairment adjustments

Reading and Understanding the different components in Financial Statements:

1. Statement of Total Comprehensive Income:
   • Statement of Profit and Loss section
     • Revenue and Other Income
     • Revenue recognition.
     • Composition of Cost of Sales
     • Operating expenses classification
     • Finance or Interest Expenses
   • Statement of Other Comprehensive Income
     • Content of this Statement.
     • Meaning of Other Equity Components

1. Statement of Financial Position:
   • Concept of:
     • Non-current and Current Assets,
     • Non-Current and Current Liabilities
   • Meaning of Property Plant and Equipment and its difference with Investment Properties
   • Intangible Assets, e.g. goodwill creation.
   • Contingent Assets and Contingent Liabilities
   • Meaning of between book value, recoverable value and fair value in assets valuation.
2. Statement of Financial Position – cont:
   • Biological Assets
   • Right of Use Assets
   • Working Capital Components
   • Deferred Tax Assets and Deferred Tax Liabilities.
3. Statement of Cash Flow:
   • Operating Activities Cash Flow
   • Investing Activities Cash Flow
   • Financing Activities Cash Flow
4. Reading Cash Flow statement made easy
5. Statement of Change in Equity.

Management Accounting Function.

1. Purpose of Management Accounting and its usage.
2. Interpret of financial statement using trend and Financial Ratios, testing for:
   • Profitability from sales, Return on assets & equity invested.
   • Liquidity
   • Free Cash Flow
   • Efficiency on Working Capital management.
   • Stability
   • Market analysis.

1. New Capital Expenditure / New Investment proposal evaluation.
   • Time Value for money – Present value and future value determination.
   • Payback Period
   • Internal Rate of Return

Assignment on Capex / investment evaluation

1. Cost Classifications and behavior
2. Budgetary control – variance analysis between actual and budget.
3. Marginal costing – Cost Volume Profit Analysis for decision making.

Assignment on Break-even calculation.