Finance for Non-Financial Managers Course

Overview

Empirical studies validate the connection between sales and marketing skills to successful business performance and growth. Sales and marketing skills are a prerequisite for business growth and personal career progression in the field.

This course imparts these critical competencies for innovative business ideation, effective application of marketing principles in the sales and marketing functions and excelling at customer service satisfaction.

Completing this course will help in:

Who is the course for?

Individuals in the sales, marketing and customer services field of business require the skills, values and knowledge imparted by this course. The course participants will be able to employ the sales and marketing techniques during the course of their work in a sales and marketing role, customer service and customer care position from entry to middle levels within an organisation.

Training Outcomes

  • Demonstrating an understanding of the key concepts of managerial finance.

  • The accounting cycle is explained by means of a diagram.

  • The role of budgeting and forecasting in the strategic planning process is explained with reference to the manager’s specific organisational context.

  • The accounting conventions applied in the financial management of a unit are explained with examples.

  • The accounting conventions include consistency, going concern, prudence, realisation, disclosure, objectivity and matching.

  • The financial reports published by the manager’s entity are explained with examples.

  • The financial reports include audit reports, income statement, cash flow statement and balance sheet.

  • Interpret financial statements.

  • Financial statements are analysed, using data sources identified and evaluated for authenticity and accuracy.

  • The ratios are applied to measure the profitability and liquidity of an entity.

  • The ratios are applied to measure the working capital and asset utilisation of an entity.

  • The ratios are applied to measure the return of an entity.

  • Return ratios include return on equity, return on investment and debt ratio.

  • Recommendations are made regarding the profitability of, liquidity, working capital, return and resource utilisation by the entity using the results obtained from the application of the ratios. 

  • Describe and prepare financial forecasts.

  • The types and formats of financial forecasts are identified with examples.

  • Sources of financial forecasts are identified as per the entity’s standard practice.

  • Factors in preparing financial forecasts are outlined in line with the entity’s standard operating procedures.

  • Relevant factors are incorporated in the preparation of financial forecasts.

  • Financial forecasts are analysed to determine viability against the entity’s requirements.

  • Draft budgets according to the operational plan of the unit.

  • Budget plans are linked to operational objectives.

  • Operational objectives are established in line with the unit’s strategic plan.

  • The budget is formulated according to standard operating procedures.

  • Drafted budget is reviewed, reflected on and modified to ensure alignment to the operational plan of the unit.

  • Supervise financial management of a unit against given requirements.

  • Monitoring systems are agreed upon and adhered to, according to standard operating procedures.

  • Expenditure reports are monitored for the year for each team within the unit against given criteria.

  • Corrective actions are implemented where necessary in accordance with the entity’s policies and procedures.

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