Target Audience

Non-financial junior to middle managers from all functions.

Purpose

The purpose of this programme is to provide managers with a solid and practical foundation understanding of business finance. It assumes no previous financial knowledge and will equip participants with an appreciation of the financial aspects of their business and the environment in which it operates.

Programme Contents

• An introduction to remove the myths of financial management
• Using the balanced business scorecard to understand the business and to link individual performance to shareholder value
• Keeping your finger on the pulse - the use of key performance ratios
• Analysing the financial structure of business - understanding the balance sheet
• investing in wealth creating assets
• asset utilisation and capacity considerations
• accounting for depreciation of fixed assets
• stock, debtor and creditor management
• not running out of cash - effective working capital management
• measures of adequate capitalisation
•   shareholders' funds - an investor's perspective
• issued share capital and reserves
• solvency and credit checking
• debt versus equity and the cost of capital
• analysing the financial performance of business - understanding the profit and loss account
  • gross and net sales value
  • managing variable and fixed costs
  • gross profit and gross margin - watching it like a hawk
  • operating profit, pre-tax and retained profit
  • sales are vanity, profit is sanity - avoiding being a busy fool
  • financial performance benchmarks for manufacturers, retailers, wholesalers and service providers
  • optimising price, volume, capacity and margin for maximum profit
  • strategic pricing
  • making better use of resources by using contribution analysis
  • understanding the profitability of brands, channels and key accounts
  • direct product profitability and the product life cycle
  • break even analysis and how to make profit sooner
  • marginal costs

A case study based individual exercise is undertaken on the evening of the first day to allow participants to reinforce and consolidate their learning during the day.

Methodology

Participants will run a business over the two days as a learning vehicle to practice the financial tools, tactics and techniques covered during the programme.

Outcomes

Managers will be able to demonstrate a much better financial understanding and interest in the numbers of not only their own business, but also those of their suppliers, customers and competitors. They will develop the ability be make a clear connection between their day to day operational decisions and how they affect the financial performance of the business. Combined with their existing skills, this workshop will help participants develop into well-rounded and commercially astute managers who think and act like business people.

Venue

The Mill House Hotel, Kingham, Oxfordshire

2007 Dates

14-15 February | 6-7 June | 23-24 October