Finance for Non-Finance Managers will give you the confidence and skills to successfully participate in financial management. You will understand critical financial terms, be able to read financial statements, see emerging trends in financial performance and use that knowledge to achieve success. Increase your effective contribution to your faculty/school and boost your career.
Key Learning Objectives
- Understand the key business pressures driving your University and how it impacts your faculty/school
- Increase your knowledge of key financial terms
- Understand key elements of your University’s accounting framework
- Become familiar with the format and purpose of the major fianancial statements
- Analyse and interpret financial statement information accurately
- Appreciate the importance of budgeting and learn how to prepare and manage a budget
- Apply simple budgeting, cost management and reporting processes
- Improve your budgeting ability for key items such as revenues and expenses
- Appreciate how costs behave to manage them more effectively
- Understand mainstream capital budgeting techniques and tools.
About the Course
The tertiary education sector has undergone rapid and major change and changes in priorities to survive in a global marketplace for education. Management and professionals need a sound knowledge of business acumen to succeed and thrive.
Faculty and finance leaders place increasing focus on managers who are financially literate and financially realistic in their business plans.
This workshop interactively shares accounting knowledge and financial management tools needed to steer faculties, schools, departments or projects through uncertain financial times. Participants will learn university accounting concepts and practices, the role and purpose of major financial statements, budgeting processes and cost behaviours as a foundation for better management.
Who Will Benefit
Non financial managers and professionals in a variety of higher education and TAFE institutions, including but not limited to:
- Faculty/school/administration management
- Faculty Business Managers
- Research professionals
- Corporate services functions including HR, IT, Marketing
- Operations and project staff
- Asset management/Facilities staff
- Divisional management
The changing finance environment within Higher Education
- Towards strategic awareness and understanding of the changing business model of Higher Education
- The impact of funding reform and competition on University finance
Understanding the major financial statements and financial terminology
- Income statement
- Balance sheet
- Cash flow statements
- Profit ratios
- Liquidity ratios
- Financial structure ratios
- What ratios tell us
An introduction to planning and budgeting
- An introduction to strategic and operational planning.
- The place of budgeting within planning
- The role of the budget as the primary financial management instrument
- An introduction to operational expense budgeting
- Key questions to ask when budgeting for expenses.
Capital Budgeting And Investment Analysis
- Capital expenditure “time value of money” analysis tools
- Discounted Cash Flows, Net Present Value (NPV), Internal Rate of Return (IRR)
- Hurdle rates, cost of capital and required rates of return
- Secondary analysis technique: Payback period
when & where
16 Mar 2018
15 Jun 2018
On-site & in-house training
Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?
Talk to us about an on-site/in-house & customised solution.