PROGRAMME OVERVIEW
An understanding of finance is a crucial skill required by many managers. Calculated business decisions require analysis of financial data. A basic understanding of finance will enable the assessment of the profitability and financial position of an organisation or department. This program, known as Finance for Non-Finance Managers Course Singapore, is aimed at helping managers with little or no knowledge of finance grasp the basics, and learn and remember fundamental financial concepts well.
TARGET AUDIENCE
Team Leaders, Supervisors & Managers
LEARNING OBJECTIVES
- Learn to make sense of financial statements
- Learn how to prepare and present an Annual Report
- Understand differences between financial and management accounting
- Understand credit management
- Learn cost accounting and budgeting techniques
- Learn how to make decisions based on financial data
- Learn how to evaluate a capital project
DURATION
2 days
CONTENT
I. Introduction to Financial Statements
- Profit and Loss accounts, Balance Sheet and Cash Flow Statement
- Difference between profit and cash flow
- Accounting concepts and conventions
II. Analysing & interpreting financial statements
- Judging financial health
- Different bases of comparison
- Profitability, liquidity, efficiency, gearing
III. Financial & Management Accounting
- Key differences
- External reporting vs. internal analysis
IV. Credit management
- Credit policy – needs and contents
- Credit review, approval, control
- Monitoring accounts receivables and follow-up actions
V. Cost accounting
- Product cost, target cost, target profit and target selling price
- Cost classification, treatment of overhead costs
VI. Budgeting techniques
- Planning and control process
- Master budget and flexible budget, financial and operating budgets
VII. Decision making
- Cost-volume-profit analysis
- Retain or abort, make or buy, accept or reject new orders
- Limited resources – the best strategy
VIII. Capital project evaluation
- Importance of capital budgeting
- Discounted cash flow
- Various techniques – payback, internal rate of return and net present value
