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Finance for Non-Finance Managers

Overview

 
In today's world, for a business manager not to have a basic working knowledge of finance is functionally illiterate.
 
Every business activity has ramifications that affect the financial stability of the organization. As managers, the decisions you make need to be rooted in a comprehensive understanding of how finance works. No, you don't need a degree, but you do need to know when you're accountable.
 
Whether you're a start-up overseeing policies that temporarily accomodate negative cashflow until you break even, or a well-established company where you need to provide a rundown of KPIs based on financial data to ensure shareholder confidence, a working knowledge of finance is a key advantage in managing business growth and expansion. Not to mention being especially useful in a crisis when a company's financial vital signs are in urgent need of clear and concise analysis before deciding on the most optimum course of action forward.
 
This two-day program will equip your core management skills with a keen sense of financial acumen to give a critical advantage in the overall administration of your organization.

Learning Outcomes

By the end of the Finance for Non Finance Managers course, the delegates will be able to:

-INCREASE your financial literacy & financial vocabulary for business and work

-OBTAIN a competitive edge by understanding the basics principles of accounting and fundamentals of finance and accounting

-EXPOSE yourself to budgetary planning and variance analysis so that you think like an accountant too

-MANAGE cost and increase efficiency of your projects/ departments/ divisions / company or organisation.

-ACQUIRE the skills to detect early warning signs of possible projects or business failure so that you can make wiser decisions

-GRASP and UNDERSTAND useful Financial Tools and techniques required for effective decision making.

-STRESS on the importance of business units in achieving corporate business objective

Who Must Attend

  • Entrepreneurs & Business Owners
  • Managers and Executives from non-accounting department
  • Personnel who require accounting knowledge to prepare departmental financial reporting 

Course Details

DAY 1: 9: 00am - 5:00pm
MODULE 1 : ACCOUNTING 101 MADE SIMPLE

  • Business Ecosystem - basis of how financial statements are prepared
  • Accounting Concepts and Principles
  • Easy way to understand Accounting Equation/ Double Entry System/ Accounting Cycle
  • Difference between the Finance and Accounting department
  • Form of Businesses
  • Activity-Group discussion on what accounting seems scary

MODULE 2: HOW BUSINESS UNITS ARE RELATED TO ITS FINANCE ASPECTS
 

  • How to factor in to your department all the financial information and costing to ensure no surprises.
  • Human Resources - leave entitlement, leave carried forward, entertainment, petrol and toll limit, employment contract, staff handbook, retrenchment, retirement, resignation, bonus etc.
  • Sales & Marketing
  • Manufacturing
  • IT, Maintenance & Research and Development
  • Finance

*Group discussion

MODULE 3 : FINANCIAL STATEMENTS I NEED TO KNOW

  • Balance Sheet / Statement of Financial Position
  • Income Statement / Statement of Comprehensive Income
  • Cash Flow Statement / Statement of Cash Flows
  • Hidden Costs

*Activity: Gamification – Play an improvised Monopoly Finance Game to get it once and for all (Competitive, Interactive and Exciting) *Calculator might be required.

MODULE 4 : BREAK-EVEN ANALYSIS – DID I LOSE MONEY?

  • Variable Costs
  • Fixed Costs
  • Direct Costs
  • Indirect Costs
  • Break-even point

MODULE 5: MANAGING CASHFLOW WITH CREDIT CONTROL (WHERE IS MY CASH?)

  • Main Elements of Working Capital 
  • Working Capital Cycle
  • Control of Cash Flow
  • Improving Cash Flow
  • Proactive Credit Management
  • Customer Management
  • Credit Control Policy
  • Cash Flow Planning and Projection

*Activity: No pain No gain – Who ‘moved’ my cash?

MODULE 6 : FINANCING – HOW TO RAISE MORE MONEY FOR BUSINESS?

  • Purpose of Financing
  • Types of Financing
  • Debts vs Equity
  • Categories of Financing  
  • Financing from Bank
  • Documentation Required
  • Cost of Financing

Activity: Case study – To borrow or not to borrow?

DAY 2: 9: 00am - 5:00pm
MODULE 7 : BASICS OF BUDGETING  - ALL YOU NEED TO KNOW ABOUT BUDGETING

*Pre-requisite: Laptop & Excel

  • Why Budgeting?
  • Budget – Definition/ Objectives/ Key Components
  • What types of Expenses to be budgeted that I might missed out?
  • Budgeting Types (Rolling Budget or Yearly Budget)
  • Sample Budgeted Income Statement
  • Budgeting Methods/ Principles/ Benefits
  • Budgeting Success Factors

MODULE 8 : BUDGETING PROCESS

  • Budgeting Process, Steps, Collect Data
  • Traditional Budgeting Challenges
  • Tips to Make Budgeting Process Easier

MODULE 9 : GETTING YOUR BUDGET APPROVED

  • Budget Hierarchy With their Roles
  • Annual Budget Approval Process
  • Budget Approval - Common Problems & Solutions

*Group discussion

MODULE 10 : BUDGETING TIPS AND TRICKS

  • Ways to Improve Budgeting
  • Technology & Budgeting
  • BI Dashboards
  • Traditional Budgeting Pitfalls
  • Alternative method of Budgeting
  • Summary of Main Difference

MODULE 11: MONITORING AND MANAGING BUDGETS

  • Budget, Actual, Variance
  • Forecasting
  • Budget vs Forecast
  • Budget vs Actual Report vs Forecast
  • Sample Reports

*Case Study: Rolling Forecast or Yearly Budget?

MODULE 12: FINANCIAL ANALYSIS

  • Types of Variances
  • Vertical/Trend Analysis
  • Benchmarking
  • Financial Ratios – Introduction
  • Liquidity Ratios
  • Solvency Ratios
  • Profitability Ratios
  • Activity Ratios
  • Financial Ratios – Charts
  • Financial Ratios – Benefits

MODULE 13: PUT IT ALL TOGETHER – TEST YOUR SKILLS NOW

  • Quick calculator and paper test to check if you’ve understood all concepts
  • Case Study & Group Presentation
Action plan – discuss how your new skills help you at work

Methodology

This Finance for Non Finance Manager's workshop’s methodology is a combination of expert input, interactive practical exercises, self-assessment, lots of hands-on role-play, group discussions, exercise worksheets, practical projects, presentations & creative music

Course Leader

DANNY LIM
Bachelor of Commerce degree (major in Accounting and Finance)
University of Western Australia


Danny has more than 20 years of corporate working experience in a diverse range of industries from manufacturing, logistics, consulting and trading. His last tenure with Quanterm Logistics is the Head of Finance and Accounts. With more than 20 years of combined professional accounting, auditing and taxation exposure, his expertise covers external audit, financial reporting, accounting, GST, corporate and personal tax compliance.


As an approved GST agent with Ministry of Finance in year 2014, he managed a GST consulting & training business and conducted more than 30 public GST seminars for several chamber of commerce and business associations, magazine publisher, accounting firms as well as providing in-house training workshop for GST-registered businesses.


The training clients that he has served included Klang Chinese Chamber of Commerce, Batu Pahat Chinese Chamber of Commerce, Taiping Chinese Chamber of Commerce, Skudai Chinese Chamber of Commerce, Kluang Chinese Chamber of Commerce, Westport Malaysia, Allied Foodservice Equipment Sdn Bhd, SMR HR Group Sdn Bhd, Nouvelle Hotel KL, KFM Holdings Sdn Bhd, Meca HR Group, Universal Media Publishers (M) Sdn Bhd, YME Engineering Sdn Bhd, Paramount Promenade Sdn Bhd, KSB Malaysia Pumps & Valves, Dynamic Venue Sdn Bhd and Goodman Classic (M) Sdn Bhd.


With his corporate working experiences as an accountant, he can share his accounting and finance knowledge and deliver in a practical, fun and interesting manner. He is now developing a programme using experiential learning method (games based) that allow the participants to have a hand-on experience/activity in learning accounting and finance.    


To contact Danny Lim, please feel free to email us at info@itrainingexpert.com or call +603 8074 9056 | +6012 6869 628

Testimonies

Finance for Non Finance Managers workshop by iTrainingExpert.com Group Phot for 3-4 April 2014

SSM Finance Training Provider Malaysia ITrainingExpert.com“The trainer and his delivery was excellent. I’m much more confident now that I have a better understanding on what accounting is all about; especially pertaining to the costing aspect.” –  SSM.

 

Ansell Limited Training Provider in Malaysia iTrainingExpert.com“This course taught me the basic and most fundamental lessons on financial management and the co-related topics. I feel so much more confident now that I’ve been well-informed on the details of such an essential subject.”–  Regional Manager, Ansell Limited.

 

“I was uncertain of the financial process before attending this course. I’m happy I’ve gained a wealth of knowledge and understanding on the system of financial reporting during this course. The trainer had excellent knowledge in his field.”– Senior Manager

Sapura Industrial Berhad Training Provider iTrainingExpert.com“I had very little knowledge on how to read financial statement before attending this course and am happy to say that I now understand a lot more about finances after attending this course. I felt the trainer gave us a very clear explanation about accounting.” – Manita, Sapura Industrial Bhd.

 

“Before attending the course, I felt that I was not good at interpreting financial statements. I came to the course and is aware about the importance of finance knowledge to manage a company. After attending ITrainingExpert's Finance For Non Finance course, I feel I have better understanding on how to read and interpret the financial statements. I personally like the practical training session and overall it is very good training.”– Account Officer – Leuven Capital Sdn Bhd

 
 “I feel excited to learn more on financial statement before attending the course. During the course, I learnt how to evaluate finance standing of any companies and definitely gained more knowledge on how to read and understand financial statements. Overall, it is very good and commendable workshop by  iTrainingExpert. The finance trainer is well-equipped with knowledge on Finance and Accounting. His clear, step-by-step explanations through story-telling and illustrative examples lit up the workshop very well. Thank you.”– Head of Business Development – Hamid Isa Transport Sdn Bhd
 
 
“It is a good training for people with limited financial knowledge. Through the course, I learnt about the various essential financial terms and practical ways of interpreting financial statements.”– Lim Chia Ni, Sales Manager – Acme Chemicals
 
 
“From this training, I learned about financial terms and definition used in income statements and balance sheets. After the course, I feel myself have better understanding on the importance of ratio analysis which is used to measure the financial performance of a company. The trainer is a very well experienced trainer on Finance and Accounting. He led the training smoothly and efficiently. I liked his explanations and illustrations.”– Carmela, IE Manager - AUO Sunpower
 
“This is a useful course where I learned what is NCL, CL, Equity, ROI, NPV, IRR, CA, NA and able to apply in my work” – Ahmad Firdaus, Engineer, Tenaga Nasional Berhad
 
“I only knew the most basic financial information before attending this course. I’m happy I got to learn the technical financial procedures during this course. After the course, I’m glad I learned that finance is the most important measure to determining a company’s status. I felt that the trainer was very good in his delivery.” – Mohd Nizam Bin Md Gunus, Manager, Setia Corporation Sdn. Bhd,
 
 
“I had very limited understanding about the subject before going for this course. The training taught me how to read financial statements and how to become more knowledgeable on finance as a whole. The trainer is very good. He explained in layman terms that made the subject easier to understand. I particularly liked our exercises.”– Nurliyana Ruzlen, Assistant Manager.
 
“I thought accounting was really too difficult a subject to understand. This training taught me the importance of interpreting a company’s financial statements to determine its health. After it was done, I really felt like I knew a lot more about the world of finance. The trainer is very knowledgeable.”– Choi Pek Koon, Assistant Manager, Administration.
 
“Before this course, I lacked in financial knowledge, but the training taught me how to analyze the financial health of a company from its performance, budgeting and investments. After it was done, I felt I learned would enhance my skills in decision-making and budget projection to determine the financial performance of my company. The trainer was very knowledgeable in his field and made everything simple to understand.”– Norhafiza bt Amran, Executive.

Investment

Normal fee
Sign up 1 pax
Pay before course starts
MYR 2,890.00 + 6% SST 
USD 850.00
Early Bird
Sign up 1 person
Pay 14 days before course starts
MYR 2,290.00 + 6% SST 
USD 670.00
Group Fee
Sign up 3 pax or more
Pay 14 days before course starts
MYR 2,190.00 + 6% SST 
USD 640.00

(Fee inclusive of Buffet Lunch, Refreshment, Welcome Pack, Training Materials & Certificate of Achievement)
Fee is NOT INCLUSIVE of 6% SST

Certificate
Upon successful completion of this program, you will receive a Certificate of Achievement. 
Certificates are distributed on the final day of the program.

Payment mode:

1. ONLINE PAYMENT  by Credit card:  You can opt to register and pay online with our latest payment integration system through our website.

2. BANK IN CHEQUE
Bank in and then scan the Bank-in slip and email to us before the course commence to confirm your seat.
Courier your cheque payment to our Finance HQ.
*Note that we DO NOT take any payments during the event.
3. BANK IN CASH: You can also pay by cash through bank-in our company bank account.
4. Telegraphic Transfer- You can also opt to use GIRO or telegraphic transfer of payment via international banks.

 

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