Managers and business owners often feel frustrated because they do not understand the language of business.
Many managers, who do not have a financial background experience difficulty coming to grips with the financial aspects of a business problem, or in communicating with financial people.
It is difficult for managers to manage costs if they do not understand exactly what costs are, how they behave and how they have been allocated. An understanding of the financial consequences of any managerial decision is vital. So too is sufficient knowledge of the language of business to allow for communication with financial people.
The Financial Skills for Management (Finance for Non-Financial Managers) workshops are ideally suited to non-financial managers and business owners who wish to increase their financial knowledge, with the purpose of analysing their businesses and making informed business decisions.
The key purpose of the programme is to give insights into the following key areas:
- Profitability: the causal relationship between margins, volumes and overheads.
- Cost management: including key cost calculations.
- Cash flow: forecasting and the key elements of working capital management.
- Financial health: how to interpret financial reports such as income statements and balance sheets, and recognise what action is necessary to improve the health of a business.
- Budgeting: an explanation of the need for budgeting and the processes involved in preparing budgets.
The Learning Approach
In order to gain a full understanding of these key areas, programme participants will have explanations reinforced by practical exercises and participation in short case studies. Participants will receive a concise easy-to-read set of notes which they will find useful for future reference.
Participants will gain confidence in dealing with financial matters and interacting with the financial specialists they deal with. As a result, when they attend finance meetings they will know which critical questions to ask, how to evaluate the answers and how to make informed contributions to financial decisions.
Participants from a wide range of industries have already attended this programme in Mozambique, Zimbabwe, Botswana and South Africa, and both the approach and content have proved very useful to businesses in those countries.
4-6 April 2017
R13,250 (excluding VAT)