Finance for Non-Finance Leaders
Tuesday, 3 & Thursday, 5 October 2023 | 10:00 AM – 2:30 PM AEDT | Online
From Numbers to Insights: Unlocking Financial Fluency for Everyone
Finance is the root of how any organisation or business makes money, and numbers are its language! Unfortunately, many key decision-makers and core team members struggle to speak the language of numbers and are making decisions based on assumptions, gut feelings, and a few rules-of-thumb. In addition, they are heavily dependent on the finance department and accountants without understanding the financial implications of their own decisions, as they believe they are non-finance person.
In this course – Finance for Non-Finance Leaders, participants will understand how their decision affects the bottom line of their organisation/department and that they are finance person. As the saying goes, “A chain is as strong as its weakest link.”. Similarly, an organisation is as strong and/or effective as its weakest decision-maker.
The Finance for Non-Finance Leaders course is designed to provide managers and leaders in government who do not have a formal background in finance. The course aims to help participants develop the ability to analyse financial information, make informed decisions, and communicate effectively with finance professionals.
The course will cover topics such as financial statements, budgeting, forecasting, cost analysis, cash flow management, and investment analysis. Participants learn to interpret financial data and use financial analysis tools to make strategic business decisions. They also gain an understanding of financial risk management and the importance of financial controls.
Who Should Attend
This course is designed for:
Program Officers, Project Managers, Public Administrators, Legal Professionals, and Healthcare Professionals
Law Enforcement Professionals, Education Professionals, Social Workers, Policy Analysts, Community Safety Officer, and Administration Officers
HR Managers, Procurement & Contract Specialists, and other non-financial staff and Heads of Departments
Understand critical financial numbers and concepts every professional should know
Analyse the three key financial statements – balance sheet, profit & loss statement, and cash flow statement
Understand financial data and make informed decisions that enable identifying financial opportunities and making better investment decisions
Effectively communicate financial information with ease to non-financial stakeholders
Meet Your Facilitator
CHINMAY ANANDA, B.E, MBA, CMA
Financial Educator – Business Storyteller – International Speaker – Author
Finance Academy Australia
Chinmay has extensive experience in training and consulting for business finance, having worked with over 7,500 business owners and non-financial managers since 2014. He has also taught over 12,000 students across Australia, India, China, and Indonesia. Known for his research on common finance mistakes made in business, Chinmay has presented his findings to reputable organizations such as the Australian Taxation Office, The Institute of Chartered Accountants of India, and Certified Practising Accountants. His training programs are accredited by the Institute of Certified Management Accountants in Australia, and he has developed finance programs taught at prestigious institutions like the Royal Melbourne Institute of Technology, Ducere Global School of Business, and Insight Academy of Entrepreneurship.
In addition to his professional accomplishments, Chinmay has gained insights from his own failures as the owner of six unsuccessful startup ventures. This led him to interview numerous entrepreneurs, CFOs, and financial experts, enabling him to understand the practical challenges they face on a daily basis. Building on this knowledge, he established BeHife Analytics Pvt Ltd, a new venture that offers a unique software tool designed to assist top decision-makers in making informed and profitable business decisions based on factual data.
- Understanding financial jargon and terminologies
- Four types of financial transactions
- Non-finance person is a myth!
- Understanding difference between Finance & Accounting; Credit & Debit; Profit & Money
- Reading, understanding, and analysing financial statements
- Profit & Loss Statement
- Balance Sheet
- Cash-Flow Statement
- Effective financial management
- Performing v/s Non-Performing Assets
- Fixed costs v/s Variable costs
- The crucial performance indicators
- Communicating numbers through stories
- Simple yet effective ways to tell stories around numbers
- Do’s & don’ts whilst storytelling
- The common finance mistakes made in the government
- The four common finance mistakes made in the government
- What not to do with finances in government
- Taking the organisation from HERE to THERE
- The seven levers to drive an organisation
- Why having fewer resources is bad and having more is worse
- Effectively forecasting, budgeting and planning
- Forecasting – Where should we go?
- Budgeting – What is required to go there?
- Planning – How to get there?
- Capital budgeting techniques
- Understanding & calculating Break-Even Point
- The five key capital budgeting techniques
- Doing what-if analysis