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5 - FNB - Finance and Banking
AFBI 117 - Finance for Non-Financial Officers Advanced
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Course Description
This course provides participants with a basic understanding of financial management. It demonstrates how to read and understand key elements of financial statements and reports, such as balance sheets, income statements and cash flow statements. They also learn how to apply basic financial and accounting principles to budget preparation and analysis
Course Objectives
- Understanding the goals of financial management
- Defining key accounting concepts
- Recognizing the use and characteristics of a balance sheet
- Recognizing the use and characteristics of an income statement
- Identifying a cash flow statement and how to use it
- Identifying the importance and characteristics of an audit and that of its primary documentation
- Defining double entry bookkeeping concepts in relation to the accounting equation
- Comparing the functions and contents of a ledger and a journal
- Identifying the different types of budgets
- Describing the elements necessary to prepare a basic budget
- Identifying specific tools for analyzing and benchmarking financial information
- Discussing the time value of money
Who Should Attend?
- Managers
- Project officers
- Team leaders
- Human Resources officials
- Those who aspire to be more financially aware
Course Details/Schedule
Day 1
- What is Financial Management?
- Goals of Financial Management
- Definition of Profitability and Viability
- Definitions of Key Accounting Terms
Day 2
- Generally accepted accounting principles
- The audit, including the management letter and auditor's report
- Elements of a budget
- Using a budget to set goals, evaluate results and improve decision-making effectiveness, communication and coordination
Day 3
- Preparing a budget
- Break-even analysis
- Reading, understanding, organizing and using departmental budgets
- Balance sheet
- Income statement
Day 4
- Statement of cash flows
- Notes to financial statements
- Key concepts
- Recording financial events in journals and ledgers
- Using financial information to improve decision making, budget planning, proposals and communication of information
Day 5
- Application of concepts and formulas
- Basic financial ratio analysis
- Time value of money
- Summary of total process
- Practice application of learnt theory through case studies
