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.Learning Outcomes
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
Level: Fundamentals
No previous experience necessary
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!
Register Today
Join this training for professionals working within the Public Sector
Additional discounts are available for group registrations of 10 or more. For group or payment enquiries or custom training solutions, please contact [email protected]
Customised in-house options available for teams
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You can also choose to have them delivered in house. We will work closely with our inspiring session facilitators to tailor the content around the key development areas your team are prioritising, shape the learning outcomes around your core departmental challenges and make the most of your L&D and upskilling budget.
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