Finance for non-financial managers
Finance for non-Financial Managers
Private Sector
4 - 6 September 2013
@ The Holiday Inn Sandton, Johannesburg
Book & Pay Before 5 th June 2013 & get 10% off
Finance for Non-Financial Managers is an excellent way to introduce managers to the realities of how decisions are made within the company from a financial perspective.
The Finance for non-financial mana ger’s workshop is designed to achieve two objectives – to improve participants’ financial literacy and to expand their commercial understanding.
This is a three day workshop and is based on unit standards:
117156 – “Interpret basic financial statements” (NQF Level 4, 4 credits)
242810 – “Manage Expenditure against a budget” (NQF Level 4, 6 credits)
The Training Approach
Learning is reinforced by case studies, practical exercises and a concise easy-to-read set of notes which participants will find useful for future reference. In order to allow for maximum participation, attendance at the workshop is limited. No assumptions regarding prior financial exposure are made.
Accounting jargon can be intimidating. Demystifying the terminology sheds new light on the numbers.
We work through:
Analysing financial statements
How accountants calculate profit
The difference between profits and cash
Ratio analysis and its limitations
Profit budgets
Cash flow forecasts
We explain the content of financial statements in terms of the practical implications for the running of the business.
Who will benefit from this workshop?
Managers whose day to day work requires them to make decisions that will impact on the Company’s profits and cash flow such as:
· Sales managers
· Production managers
· Operations managers
· Factory managers
· Project managers
· Engineers
· Plant managers
· Marketing executives
· Planners
· Technical staff
· Purchasing managers
· HR Managers
The qualifying candidate will be able to:
Analyse the basic elements of an income and expenditure statement.
Analyse the basic elements of a balance sheet.
Compile a personal assets and liabilities statement.
Use the evidence in financial statements to make a financial decision.
Explain the concept of budgeting in a business unit.
Analyse the budget needs of a business unit.
Present and justify a proposed budget for a business unit.
Monitor and control actual expenses and revenue against projected expenses and revenue
Course Outline
Day 1
Chapter 1 – Review of the Basics
1.1 Basic terminology to the accounting function.
1.2 The double entry system.
1.3 The Balance Sheet Equation
1.4 Income Statements
1.5 Cash Flow Statement
1.6 Statement of Retained Earnings
Chapter 2 – Asset Management
2.1 Management of Current Assets
2.2 Managing Receivables Policy
2.3 Inventory Valuation Methods
2.4 Depreciation
Chapter 3 - How to Read an Annual Report
3.1 Start at the Back
3.2 Footnotes
3.3 Financial Statements
3.4 CEO’S letter
3.5 Explanations and Analysis
3.6 Checklist
Day 2
Chapter 4 - Rationale for Budgeting and Budget Control
4.1 Financial Tools for Business Decision Making
4.1.1 Choosing New Projects and Capital Budgeting
4.1.2 Project Execution and Monitoring
4.2 The Basics of Accounting for the Project Manager
4.3 Cash Flow
Chapter 5 – Budgeting
5.1 What is a Budget?
5.1.1 The Planning Process
5.2 The Budgeting Process
5.3 Limiting factors
5.4 Types of budget
5.5 The advantages of budgeting
5.6 The disadvantages of budgeting
5.7 The Incremental Budget
5.8 Zero- Based Budgets
Chapter 6 - How to Prepare Budget Forecasts
6.1 Gathering information
6.2 Anticipating revenues
6.3 Estimating expenditure
6.4 Impact of Inflation on Financial Decisions
6.4.1 Calculating the Inflation Rate
6.4.2 Real Versus Nominal Rates Of Return
6.4.3 Real Versus Nominal Interest Rates
6.4.4 Real Versus Nominal Cash Flows
6.4.5 Net Present Value Analysis in an Inflationary Environment
Day 3
Chapter 7 - Planning
7.1 Effective Implementation of Integrated Development Planning Process
7.2 Purpose of Performance Budgeting
7.3 Benefits of Performance Budgeting
7.4 Performance Measures in the Strategic Planning and Performance Budgeting System
7.5 Strategic Planning Phase
7.6 Performance Budget Development Phase
7.7 Performance Budget Implementation Phase
7.8 Performance Monitoring Phase
7.9 Foster Internal/External Involvement and Communication
Chapter 8 - Capital Structure and Financing Decisions
8.1 First Principles
8.2 Objective in Decision Making
8.3 Debt: The Basic Trade-Off
8.4 Analysing External Financing Methods
8.5 Impact on shareholder income
8.6 EBIT – EPS Analysis
8.6.1 Financial Leverage
8.7 Impact on shareholder risk
Chapter 9 - The Time Value of Money
9.1 Present Value and Future Value
9.2 After – Tax Interest Rates
9.3 Five-Step Procedure for Solving TVOM Problems
9.4 End-of- Period Convention
Chapter 10 - Net Present Value
10.1 The Key to Creating Wealth
10.2 The Net Present Value Decision Rule
10.3 Choosing from among Alternative Projects Using The NPV Rule
10.4 Selecting a Discount Rate
7.5 Weighted Average Cost of Capital
Chapter 11 - Alternative Project Decision Rules and Their Failings
11.1 Introduction
11.2 The Payback Period Rule
11.3 The Discounted Payback Period Rule
11.4 The Internal Rate of Return Rule
11.5 Flaws in the IRR Rule
Chapter 12 - How to Project Cash Flows and Calculate Net Present Value
12.1 Introduction
12.2 Principle 1: Focus on Cash Flows
12.3 Principle 2: Use Expected Values
12.4 Principle 3: Focus on the Incremental
12.5 The Input Data Needed for NPV Analysis
12.6 An Example of NPV Analysis: The Case of Master Chef Pizza Company
About your Facilitator
Vincent Mazibuko (B.Com: MBA)
Vincent started his career as a teacher in Economics. Later in his career he was part of the team that wrote the new curriculum in Economics for schools. He also has experience in financial management in the public sector, project management, accounting, public relations, research and consulting, occupational health and safety, business communications, and supervisory management.
During 2006 he was part of the team who trained Local Economic Development practitioners throughout South Africa as part of the Department of Trade and Industry and the Small Enterprise Development Agency initiative to present a basic business skills course.
He presented Finance for non Financial Managers for the Department of Science and Technology, as well as the Department of Education in the North West Province, and the Department of Water Affairs in Gauteng and the Eastern Cape.
During 2007 his company won a tender from the Mining Qualifications Authority to deliver supervisory management in all 9 provinces of South Africa.
He has worked with different spheres of government for the past seven years in the fields of finance, project management, monitoring and evaluation, management and leadership development as well as economic development.
EARLY BIRD DISCOUNT
Book & Pay Before 5 th June 2013 & get 10% off
REGISTRATION DETAILS:
NORMAL REGISTRATION FEE:
Ø Single delegate: R 5,999 excl. VAT
Ø Registration cost does not include transport and accommodation
TO REGISTER:
Contact: Kate Malcom on Tel: 011 450 3477. Fax: 086 245 7901 or Email: kate.malcom@premierknowledge.co.za
In-House Training
Do you have 8 or more staff members that need training
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Do you want to save up to 40% on public course training costs
If you answered yes to any of these questions, then Premier Knowledge In House Training is the solution for your training needs.
With in-house training, you choose the timing and location of the seminar, and can customize the course content to meet your organization's own particular training needs. In house ensures that only your team is present at the course, ensuring privacy which facilitates open and frank discussions when training.
We can even create a bespoke one or two day course on a training issue of your choice.
The 3 Benefits Of In-House Training
Complete confidentiality in discussing your organisation's sensitive issues
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No travel or Accommodation costs to pay for your staff
For a free quote on In-House Training: You can contact Florence Roberts on 011 450 3477 or florence.roberts@premierknowledge.co.za
