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Finance for Decision Making (for Non - Finance Executives)

Program Objective :

Almost everything in business eventually boils down to the money sign. Hence, irrespective of the primary area of work every manager needs a basic grounding in finance and accounting. As the managers from non-finance domains move up and assume responsibilities to make decisions impacting top-line, margins, bottom-line, credible budgeting, cost-benefit evaluations and capital allocation, inability to understand and apply finance ideas in the decision making will impair the competitive capabilities of organizations and hence its financial performance.

This 3-Day program seeks to enable non-finance professionals to use financial numbers with greater understanding, efficiency and confidence by exposing them to essentials in understanding and interpreting financial statements, managing costs, evaluating short and long term investment decisions and budgeting.

Since the idea of ‘cost’ is appealing to common sense, this program commences with building a foundation in measuring and analysing costs. This is followed by a discussion on how financial statements are prepared and analysed, in the process showing how costs impact the overall financial performance of a firm.

Having prepared the ground to deal with number crunching, the participants are introduced to the ideas of capital expenditure planning and working capital management. Finally, the program winds up by linking all these ideas to controlling financial performance through a system of budgeting and variance analysis.

By the end of the program, participants will be able to:
Who Should Attend?
Program Outline
Module 1: Cost Measurement and Cost Analysis

This module seeks to familiarize the participants with various ways of measuring costs and using certain tools of cost analysis.

Module 2: Understanding Financial Statements

This module firstly familiarizes the participants with the three basic financial statements. Thereafter it builds on this platform a super structure of tools for analysis and interpretation by considering the cases of several MNC’s.

Understanding Financial Statements:

Module 3: Analysing and Interpreting Financial Statements.
Module 4: Introduction to Evaluating Long Term and Short Term Business Investments

How financial resources available to a firm should be allocated to the many possible investment alternatives available is a major issue that corporate executives grapple with often. Should a new plant be built? Equipment replaced? More inventories held? Higher credit extended? The purpose of this module is to look at the solution of an economist in the language of the business manager.

Module 5: Cost Control – Budgeting and Variance Analysis

This module emphasizes on understanding the purpose and value of establishing budgets; types of budgeting; importance of evaluating budgets; understanding variances and completing a variance analysis.