Accounting and Finance for Non-Finance Managers (Introductory)


Overview

This is a 2-day course focuses on the application of finance and accounting tools for business decision-making. It is customized to meet the specific training needs of managers with emphasis on user perspective. The 2 main modules are (i) financial accounting and (ii) management accounting. It is intended for non-finance managers with limited prior exposure to accounting and finance training.

Practical application of these concepts to interpreting financial statements, analyzing the financial effects of business transactions, evaluating business performance, strategic use of budgets for planning and control purposes  and risk analysis will be emphasized through various case studies.

 

Topics covered

Day 1 – Financial accounting

  1. Understanding the key elements of financial accounting and reporting: assets, liabilities, equity, revenue, costs, net income.
  2. Understanding financial statements (income statement, balance sheet, statement of cash flow) and notes to accounts.
  3. Analyzing the financial effects of typical business transactions (such as accrued expenses and revenue recognition) on the financial statements and linkages among income statement, balance sheet and the statement of cash flow.
  4. Integrative case study of the annual report of a listed company.
  5. Financial statement analysis and financial ratios
  • Profitability analysis such as return on assets, return on equity, net profit margin.
  • Liquidity analysis such as current ratio, quick ratio, cash flow from operations.
  • Solvency risk analysis such as gearing ratio, debt-to-equity ratio
  • Working capital efficiency analysis such as account receivables turnover, inventory turnover and cash operating cycle.
  1. Practical applications of financial statement analysis such as
  • Interpreting key financial performance indicators such as return on assets, return of equity, debt-to-equity ratios, and economic value added.
  • Evaluating business performance.

 Day 2 – Management accounting

1. Cost-volume-profit analysis

  • Fixed costs versus variable costs
  • contribution margin
  • break-even analysis.

2. Costs analysis and estimation

  • Typical cost components : direct labour, direct material, cost overheads
  • Time horizon and relevant range
  • Cost drivers: Cause and effect analysis.

3. In-sourcing versus out-sourcing decisions

4. Product pricing strategies

  • product cost
  • customers’ requirements
  • cost-plus and market-based pricing methods

5. Strategic role of budgets

  • Overview of budgeting process
  • Variance analysis (comparing actual versus budget)
  • Performance evaluation, feedback process and accountability
  • Pitfalls in budgeting process

 

Who should attend

This programme is valuable for non-financial group leaders, project managers, programme managers, department heads and others who wish to develop a financial toolkit to complement their existing professional or technical skills.

 

Programme Information

Fee: SGD$1,712.00 (inclusive of GST) per participant. The fee is inclusive of tuition, course materials, lunch and tea breaks, and the Certificate of Participation.