What is a Finance for non-financial people training course?
A Finance for non-financial people course is aimed at people who do not have a formal financial background. This type of course aims to provide the student with a good grasp of the principles of finance, business and thereby gain related commercial awareness.
This knowledge can be used by employees to perform better on a wide range of jobs and use their improved commercial awareness to open a range of new fields to them. At a personal level this commercial awareness can be used to establish an understanding of how the business world works.
Areas covered:
The start of the course will generally focus on useful financial terminologies and provide an explanation of the various components of financial accounts. It will provide an overview of how accounts are prepared and how they are used.
¢ The profit and loss account (income statement) and the balance sheet
¢ How to stop abuses of established accounting policy.
¢ The use of creative accounting methods
¢ Key financial ratios
¢ Ratio analysis to real company accounts in practical terms
¢ Management of working capital
¢ The importance of liquidity and cash-flow control
¢ Cost control and management; categorisation of costs
¢ Trading margin and revenue generation improvements
¢ What is break even analysis
¢ How your business plans capital investment; assessment methods.
Taking one of these courses will enable you to achieve business targets through deployment of financial data. You will be able to decipher the real meaning behind financial accounts of summaries.
Financial accounts are numerical representations of an entity which are organised in a set manner. The main aim of financial accounts is to show the amount of profit a company is making, what it owns and what it owes to third parties and thereby have insight into the overall financial health of the company.
Accountants will normally prepare financial statements by conforming to set standards and legal regulations; for example, UK companies submit financial accounts on a yearly basis in accordance with the 2006 Companies Act.
Accounting
There are, in addition, set accounting practices and protocols which determine how financial accounts are recorded and are recognised by the broader accountancy profession. Most developed countries have their own accepted accounting principles; they are referred to as GAAP (generally accepted accounting principles). Hence, there is US GAAP, UK GAAP etc.
It can be hard to understand the financial accounts of a multinational company for people who are not familiar with the GAAP practices in its country of domicile, therefore the IAS (International Accounting Standards) or US GAAP have been adopted by many multinationals to overcome this issue.
Finance for non-financial managers Courses
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