Essentials of Finance & Management Accounting for Non-Finance Professionals

Why You Should Attend This Course

Businesses, like your organisation, exist primarily to generate wealth for stakeholders. Wealth is, more often than not, expressed in financial terms. It is vital that you possess a sufficient level of financial literacy to better understand and perform your role in meeting your organisation's objectives or, what we call, creating value for your organisation.

This course uses the financial statements of a real-life SME company. This course will enable you to engage and communicate more effectively and constructively with your superiors, subordinates and peers, thus elevating your contribution, relevance and potential in your organisation.

Learning Outcomes

• Understand the terms in the financial statements

• Understand the relationships among the financial statements

• Analyse and interpret the financial performance of the company

• Know the concepts and principles underlying the preparation of financial statements

• Equip yourself with the financial tools for assessing the financial performance of a company

• Appreciate the relevance of the Cash Flow Forecast to effective cash flow management

• Distinguish the different types of budgets and apply budget variances to controlling costs

• Apply capital budgeting techniques to assess the viability of capital investment projects

Course Outline

1) The Financial Statements

• Balance Sheet

• Profit or Loss Statement

• Statement of Changes in Equity

• How Transactions Flow to the Financial Statements

• End-of-Period Adjustments

2) Analysis and Interpretation of Financial Statements

• Profitability Ratios

• Efficiency Ratios

• Solvency Ratios

• Weighted Average Cost of Capital

3) Cash Flow Management

• Cash Flow Statement

• Why Hold Cash

• How Much Cash to Hold

• Cash Flow Forecast

4) Budgeting and Budgetary Control

• Why Prepare Budgets

• Interdependency of Budgets

• Comparing Actual Performance with Budgets

• Budget Variances

• Budgeting for Fixed Costs

5) Capital Budgeting

• Characteristics of Investment Appraisal Projects

• Time Value of Money

• Discounted Cash Flows

• Capital Budgeting Techniques

  • Net Present Value

  • Internal Rate of Return

  • Payback Period

Target Audience:

This two-day course will benefit department and business unit managers, executives, budget holders and mid-career professionals who may not have the relevant financial experience or qualification.

Trainer Profile:

Chow Chan Kwan

Mr Chow has more than 15 years of industrial experience as General Manager of various manufacturing and retail subsidiaries of a multinational company in Singapore and China.

He has delivered accounting and finance lectures to students pursuing the Certificate in Management (CIM) at the Singapore Institute of Management (SIM), and conducted in-house financial training during the initial stage of his career as a statistics and research officer at a Malaysian bank.

Chow holds a Master of Business Administration (MBA) degree in Accounting and Finance from Ohio University in the USA. While pursuing his MBA degree, he delivered accounting lectures to freshmen students, a provision under the university's Graduate Assistant Scholarship Scheme.

Mr Chow is currently a professional trainer and consultant, specialising in Accounting, Finance, Strategic and Supply Chain Management.

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