Online Training

Finance for Non-Finance Leaders

From Numbers to Insights: Unlocking Financial Fluency for Everyone

7 & 14 May 2024

11:00 AM to 3:30 PM

Next intake: 7 & 14 May 2024 | 11:00 AM to 3:30 PM

Overview

The Finance for Non-Finance Leaders course aims to help managers and leaders in government who lack a formal background in finance understand the importance of financial analysis and decision-making. The course covers topics such as financial statements, budgeting, forecasting, cost analysis, cash flow management, and investment analysis. Participants learn to interpret financial data, use financial analysis tools, and understand financial risk management. The course is designed to make finance fun and engaging, using industry case studies, practical examples, and real-life experiences. Ineffective financial management can lead to the downfall of any organisation, so it’s crucial for leaders to understand the financial implications of their decisions.

Who Should Attend?

Program Officers, Project Managers, Public Administrators, Legal Professionals and Healthcare Professionals
Law Enforcement Professionals, Education Professionals, Social Workers, Policy Analysts and Community Sales Officer
Administration Officers, HR Managers, Procurement and Contract Specialists and Other Non-Financial Staff and Heads of Departments

Learning Outcomes

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
Effectively report, budget, forecast, and communicate numbers in form of stories
Develop financial strategies that align with the organisation’s overall goals and KPIs

Online Training

Finance for Non-Finance Leaders


Session details

  • Enables non-finance leaders to communicate effectively with finance teams
  • Speak the language of finance, enhance your ability to make informed decisions
  • Have the ability to assess financial performance, identify cost-saving opportunities, and optimise resource allocation
View course modules

Level: Fundamentals

No previous experience necessary

or

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This course requires 1 credit.

Key Sessions

The reason many people find the subject of finance complicated is simply that they lack the basics and have many misconceptions about it. Primarily this session answers the question – Why should I learn finance when there are accountants and financial experts?

All misconceptions are clarified, and the basics are explained in simple terms using stories that will create a solid foundation to speak the language of business/organisation – Numbers!

• 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

In any sport, one cannot tell if a team is winning or losing without having the ability to read and understand the scoreboard. Similarly, in an organisation, financial reports are like a scoreboard that tells if it is making more money than spending.

In this session, participants will learn why financial statements are prepared – how they are prepared – and what numbers to look for so that they can make informed profitable business decisions with ease and clarity.

• Profit & Loss Statement
• Balance Sheet
• Cash-Flow Statement

One of the prime objectives of any organisation is to make more money than it spends. However, the challenge is – do non-finance persons know the financial position of the organisation? If not, are they making decisions based on facts or mere assumptions without knowing how their decision impacts the bottom line?

• Performing v/s Non-Performing Assets
• Fixed costs v/s Variable costs
• The crucial performance indicators

 

Communicating numbers through stories

Adults are kids who have grown up. As kids we first learn by touching – seeing colours – then language – and then numbers. If you do not include some element of fun and story, then the kid in them will not be interested. They might have learnt to read and understand numbers, however, many struggles when it comes to communicating it in simple laymen language.

In the session, insights on how to effectively communicate numbers (data) using a simple model and process will be shared. Remember, data is like crude oil, it needs to be filtered and processed!

• Simple yet effective ways to tell stories around numbers
• Do’s & don’ts whilst storytelling

After interacting with several government professionals on how financial decisions are made and how they go about budgeting, forecasting, and executing the strategies; common finance mistakes were found out.

In this session, the common mistakes will be explained with case studies for participants to learn what NOT to do in their respective departments. It will make them understand even though finance is a common-sense subject why it is still not very common.

• The four common finance mistakes made in the government
• What not to do with finances in government

 

Taking the organisation from HERE to THERE

Many people think by having more resources is safe but on the contrary, it is worse as they might end up being non-performing. This becomes a burden on the performing assets.

In this session, one will learn how to maintain the optimum level with regard to managing resources.

• The seven levers to drive an organisation
• Why having fewer resources is bad and having more is worse

Every organisation is constantly trying to work within the budget. In order to achieve this, core team members need to know the common goal (from a finance perspective) and effectively utilise the resources
at their disposal.

In this session, participants will learn how to forecast and budget for their own department so that it resonates with the common goal of the organisation instead of operating in isolation or feeling left-out.

• Forecasting – Where should we go?
• Budgeting – What is required to go there?
• Planning – How to get there?

Capital budgeting techniques

This session is designed to bring cost-consciousness and will make the non-finance person responsible and accountable for their decisions.

It will give insights on investments to be made with pros & cons by doing the what-if analysis.

• Understanding & calculating Break-Even Point
• The five key capital budgeting techniques
• Doing what-if analysis

Meet Your Facilitator

Chinmay Ananda

Financial Educator, Business Storyteller, International Speaker, Author | Finance Academy Australia

Chinmay, a renowned business finance expert, has trained and consulted over 7,500 business owners and managers since 2014. He has presented research on common finance mistakes in business to various organisations, including the Australian Taxation Office, ICAI, CPA, and various industry associations. Chinmay has developed finance programs for MBA students in Australia and has served as a National Treasurer of Professional Speakers Australia.

Chinmay has authored two books – “FUNdamentals of Financial Statements” and “The Bottomline”.

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