If you are a non-financial manager, you can benefit from taking a seminar to develop your financial skills. Doing so will assist you in performing better at your job and speaking with managers who are regularly involved in matters that concern budgeting.
Who Will Benefit from this Course?
This type of course is typically offered for a week and is recommended for managers who do not deal with finance as a substantial part of their roles. Managers may come from all types of sectors, including not-for-profit organisations and public and private companies.
Therefore, the people who will receive the most benefit from a financial development course include the following:
- Managers who are new or managers who would like to take a refresher course in finance.
- Budget holders who wish to oversee their budgets with more efficiency.
- Managers who are being promoted to jobs where financial literacy is a requirement.
- Operations managers who need to know more about cost management.
- Sales and marketing professionals who want to read financial statements.
- Managers who wish to make more of a contribution to the activities in their compan
Better Decision-Making on the Job
This course is also recommended for anyone who wishes to glean a better understanding of key accounting concepts and improve their cost management and forecasting abilities. Therefore, as you can see, these are financial management courses that will lead to better decision-making on the job.
What Managers Will Learn by Taking the Course
By the end of a financial development course, participants are able to do the following:
- Better understand bookkeeping and accounting.
- Participate in the budgeting process.
- Oversee financial aspects of projects with more proficiency.
- Understand key financial statements.
The Subject Areas that Are Covered
The course content of this type of programme includes the following subject areas:
- Key financial principles
- Reading and understanding financial statements in the public and private sectors
- Understanding several facets of management accounting
- Overseeing the costs of projects
- Building and managing an effective budget
The Key Principles That Are Learned and Covered
The key financial principles that are covered in a financial development course include the following:
- How bookkeeping differs from accounting
- Knowing the difference between cash accounting and accrual accounting
- General ledger accounts and their purpose, including an overview of the chart of accounts
- How double-entry bookkeeping works
- Learning the concepts of depreciation and amortisation
When management accounting is reviewed, participants compare financial accounting with management accounting and review the kinds of management data that are prepared for internal use. Students also learn more about the financial information that managers must oversee. Key ratio calculations for variance analysis are also covered in this part of the course.
When students learn how to build a budget, they review the budgeting differences in the public and private sectors. A quiz is given to appraise the level of learning achieved.