Many people have been asking what is Finance for non-Finance training. In essense, Finance for Non-Finance training courses are designed to assist non-finance professional in gaining an understanding of key financial concepts and terminologies. This is because higher level managers tend to increasingly, be exposed to Financial information.
Why are non-Financial Managers keen to learn more about Finance?
- The higher you are in an organisation or company the more likely that you will have responsibility for a budget and meeting targets. You are most likely to interact with targets (KPIs) or be purely based on Finance.
- Business and Finance are increasingly integrated. This means that the Financial department of the company is increasingly interacting with different areas of the business. However, this also means non-financial managers are increasingly interacting with Finance and need to enhance their skills and knowledge in this area
- Technology is improving and it is increasingly the case that more sophisticated financial analysis and reports are available to a wide range of managers. Therefore, there are more requirements for all management to up their financial skills.
What do I need to learn on a Finance for non-Finance Managers Course?
The most important aspects of Finance for non-Finance Managers training courses are to gain the ability to read and understand Financial Reports.
Here is a list of key items the majority of non-financial managers aim to learn:
- How to understand the Balance Sheet
- How to understand the P&L
- How to understand Cash Flow Statement
- How do we interpret financial health from the Financial Report
- What is Debt, Equity, Liquidity, CAPEX, Working Capital and other key financial terms
- What are Budgets and Forecasts – how do we create and interpret them
- How can I make business decisions with financial information.
The most important of all is the ability to be able to grasp how finance connects to the business reality. This will empower you to make decisions and present the outcome in a manner that will suit Finance.
Finance for non-Finance Skills
Gaining the Finance skills is vital to management and it will enable you to confidently make the business decisions that are required to be a success. This is the weakness that many managers complain about and this can impede career progression.
You can find out more about Finance for non-Finance training with Souters via this link: CLICK HERE. All training is accredited by CPD Standards and we have an impressive list of qualifications.