However, understanding the core concepts of finance is crucial for effective decision-making and business growth. With this in mind, InPD has developed a Finance for Non-Finance Managers Course, which helps professionals to gain a solid understanding of financial strategy, and learn how to analyse, interpret, and evaluate key financial data, models and reports. In this blog, we will explore what managers can expect from such courses and how they can gain confidence in dealing with financial matters.
Build Foundational Knowledge
The first module of the course is focused on building foundational financial knowledge. The course explains the main features which characterise the structure and content of organisational financial information. Understanding the basics helps managers make sense of financial information and how it impacts their role. With a solid foundation in place, the chances of misinterpreting financial data are minimised, and a more confident, informed approach to financial proposals can be taken.
Measure Financial Performance
Performance indicators are used to measure how well an organisation is doing. Managers who understand how to use and assess these indicators are better equipped to make informed business decisions. The course teaches delegates how to use performance indicators and measure the financial performance of an organisation. They will learn how to identify strengths and weaknesses and use this information to make decisions that will contribute to the overall success of the business.
Management Accounting Tools
Management accounting is an essential function for making business decisions. The course teaches delegates how to analyse and apply appropriate management accounting tools. By understanding the tools at their disposal, managers will be able to make informed decisions based on financial data.
Reflecting on Financial Decision Making
One of the most important modules of the course is the ability to think critically about financial management within an organisational setting. By reflecting on their use of financial information, managers can identify areas of improvement and make informed decisions.
Finance Training for Non-Finance Managers
Gaining confidence in business accounting and finance is a valuable skill for any non-finance manager. Courses that offer such training enable professionals to communicate effectively with colleagues and senior management on financial matters. By building foundational knowledge, measuring financial performance, using management accounting tools, and reflecting on financial decision-making, managers will feel more empowered and better equipped to make informed business decisions.
Gain new skills and take an active role in the financial health of your organisation with InPD’s Finance for Non-Finance Managers training programmes. This 2-day virtual professional development training programme is perfect for managers of all levels of experience. Enrol today.
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Information correct as of 06 July 2023
