Finance for Non-Finance Directors - In Person (1 Day)

2024 Finance for Non-Finance Directors - In Person (1 Day)

Chartered Management Institute Recognised Training Centre for Director Training Courses.

This course is assessed as “Excellent” by its delegates.  To ensure that the Company Directors attending this training course will continue to get the maximum possible benefit, the delegate numbers will be limited to a maximum of 8.

The Course Certificate Evidences 6 CPD Hours.

Company law requires all Board Directors to understand their own accounts and holds the Directors collectively responsible for the validity of the annual financial accounts. The law demands a good knowledge of finance from all directors. Business success also requires strong financial capabilities, which this Finance for Non-Finance Directors course will give you.

This Finance for Non-Finance Directors course will enable you to satisfy all of your legal financial duties and, without any previous knowledge, to analyse and interpret any Balance Sheet, Profit & Loss Account or Cash Flow statement, using Fundamental Accounting Concepts and Generally Accepted Accounting Principles, GAAP. You will learn to use P/E Ratios, ROCE, ROI, Gearing, Current Ratio, Quick Ratio, Stock Days, Debtor Days, Creditor Days, Enterprise Values, EBITDA, Company Valuations, Acquisitions. You will become familiar with Break Even analysis, Contribution Analysis, Zero Based Budgeting, Cash Management, Cash Forecasting, Net Present Value and Discounted Cashflows.

Costing methods based upon break even analysis and contribution analysis will be contrasted with overhead cost allocation approaches to identify their relative strengths and weaknesses. It will provide a good understanding of cash management and forecasting.  You will be able to manage the relationship between ROCE, ROI and Gearing.  The theoretical knowledge will be reinforced by very practical hands on case studies.

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period In preparing these financial statements, the directors are required to:

• Select suitable accounting policies and then apply them consistently,
• Make judgments and estimates that are reasonable and prudent,
• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Formal Certificates of Professional Development will be issued to all Director delegates. These certificates will be accepted as evidence for CPD purposes by most professional institutes and associations, including the Law Society, the CIM, the CMI, the ICAEW, the Institute of Learning and the CIPD.