Online Training

Financial Fluency for Non-Finance Professionals

From Numbers to Insights: Unlocking Financial Fluency for Everyone

July 24 & 31, 2024

10:00 AM to 2:30 PM EST

Next intake: July 24 & 31, 2024 | 10:00 AM to 2:30 PM EST

Overview

Finance is the root of how any organization 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 persons.

In this course – Financial Fluency for Non-Finance Professionals, participants will understand how their decisions affect the bottom line of their organization/department and that they are finance persons. As the saying goes, “A chain is as strong as its weakest link.” Similarly, an organization is as strong and/or effective as its weakest decision-maker.

The course will cover topics such as financial statements, budgeting, forecasting, cost analysis, cash flow management, and investment analysis. Participants will learn to interpret financial data and use financial analysis tools to make strategic business decisions. They will also gain an understanding of financial risk management and the importance of financial controls.

After the end of the course, the participants will have the ability to analyze financial reports irrespective of the size of the data, as they will learn to extract relevant information by processing any financial data with simple, proven steps. This will boost their confidence not only to interact with financial experts but also to make informed and profitable decisions based on facts and not mere assumptions.

This interactive course will be delivered using industry case studies, practical examples, and real-life experiences, and above all, it is intentionally designed to make the subject of finance fun to learn.

Remember, good financial management may not always guarantee success, but ineffective financial management can single-handedly bring down any organization!

Who Should Attend?

The Financial Fluency for Non-Finance Professionals 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 analyze financial information, make informed decisions, and communicate effectively with finance professionals.
Program Officers | Project Managers | Public Administrators
Legal Professionals | Healthcare Professionals | Law Enforcement Professionals
Education Professionals | Social Workers | Policy Analysts | Community Safety Officers
Administration Officers | HR Managers | Procurement & Contract Specialists | Other non-financial staff and Heads

Learning Outcomes

Understand critical financial numbers and concepts every professional should know and make informed decisions that enable identifying financial opportunities and making better investment decisions
Develop financial strategies that align with the organization’s overall goals and KPIs
Analyze the three key financial statements – balance sheet, profit & loss statement, and cash flow statement
Effectively communicate financial information with ease to non-financial stakeholders and report, budget, forecast, and communicate numbers in form of stories

Online Training

Financial Fluency for Non-Finance Professionals


Session details

  • Understand budgeting and financial planning in order to manage public funds responsibly and effectively
  • Speak the language of finance, enhance your ability to make informed decisions and effectively contribute to financial discussions
  • Have the ability to assess financial performance, identify cost-saving opportunities, and optimize resource allocation to achieve organizational goals
View course modules

Level: Fundamentals

No previous experience necessary

or

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This course requires 1 credit.

Key Sessions

This course provides participants with vital financial knowledge and decision-making abilities. It introduces participants to the fundamental financial terms, establishing a basis for understanding financial language. It will also cover effective financial management, including concepts like fixed and variable costs and key performance indicators. This course also aims to provide guidance on reading financial statements and communicating numbers through storytelling.

• Importance of accounting financial literacy
• Understanding difference between Finance & Accounting
• Accounting and financial terminologies

 

Reading, Understanding, and Analyzing Financial Statements

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

• Fixed costs v/s Variable costs
• Understanding & calculating Break-Even Point
• The crucial performance indicators

 

Communicating Numbers Through Stories

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

• Time value of money
• PESTEL Analysis & Uses in Finance
• How Economic Factors Affect Businesses

 

Effectively Forecasting, Budgeting, And Planning

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

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

 

Taking The Organization from HERE to THERE

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

Meet Your Facilitator

Chinmay Ananda, B.E., MBA, CMA

Financial Educator, Business Storyteller, Speaker, Author & Investor

Since 2014, Chinmay has trained and consulted over 8,000 business owners and non-financial managers on the subject of business finance, and over 12,000 students in Australia, India, China, and Indonesia. Chinmay is known for his research on hundreds of failed businesses to discover the ‘Common Finance Mistakes made in Business’ that he has presented to the Australian Taxation Office (ATO), The Institute of Chartered Accountants of India (ICAI), Certified Practising Accountants (CPA), and various Industry Associations and Councils.

He has developed finance programs that are taught to MBA students in Australia. He teaches the same at the Royal Melbourne Institute of Technology (RMIT), Ducere Global School of Business, and Insight Academy of Entrepreneurship. He served as a ‘National Treasurer’ of Professional Speakers Australia between 2018-21, and is an active Rotarian.

He is the proud owner of six failed startup ventures. He is proud to have failed so many times, as it prompted him to find out the reasons why. This made him interview hundreds of entrepreneurs, CFOs, and financial gurus which made him understand the practical challenges faced by them on a daily basis.

He actively invests and raises funds for startups and businesses along with providing strategic consulting services while dealing with selling, buying, merger & acquisition of companies. Chinmay has authored two books – “FUNdamentals of Financial Statements” and “The Bottomline”. The content in these books has been researched, tested, and presented over eight years to make the subject of business finance FUN to learn!

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Ends 17 May

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Ends 23 Jul

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