Working at a managerial level in an organisation requires you to have proficiency in various matters. Whether you are the manager of the technical department or the human resource department of an organisation, a basic training in finance may help you perform your duties in a better manner.
The basic training courses in finance available for non-financial managers provide an understanding of the financial aspect of the organisation. It also provides an understanding of the ways in which your decisions affect the organisation’s financial matters and the ways in which you may enhance the financial performance of your organisation.
Here are a few important details regarding a course focusing on finance for non financial managers.
Who is the course for? Whether you have only joined an organisation as a manager or have years of experience working in this position, this course may be suitable for you, especially if you have a non-finance background. This course is appropriate for managers in public, private and voluntary organisations.
What does the course include? The course is divided into certain modules:
- Identifying and understanding the course objectives
- Interpreting the Balance Sheet
- Understanding the Income and Expenditure Accounts
- Knowing the Management Accounts
- Using ratios for understanding financial performance
- Generating ideas for improving the performance
- Understanding the financial jargon
- Analysing data for forecasting
- Developing an action plan for improving financial performance
The course should clarify financial terms, examine key trends, explore key ratios and analyse areas of concern. This will help you identify the key issues, threats and opportunities. This will also help you create an action plan and fix a budget.
What are the benefits of the course? Understanding the financial principles is necessary for managers, even if you do not work in the finance department. Ability to comprehend concepts, such as Return on Investment, will help you understand the financial matters. It also helps in decision-making and enhancing financial performance of the organisation.
The course will ensure that the candidates have a comprehensive idea about the basics of finance. This also makes it possible for managers to understand financial terms and concepts and contribute to the financial operations of the organisation. This also makes it easy to handle tasks such as management of accounts and analysis of key matters.
What is the cost? Before you enrol in a particular course designed for this purpose, you need to find out the charges from the training institute. Also, make sure the costs cover the study materials.
How much time will it take? Most of the training courses for professionals are available on a part-time basis. Online courses are more suitable for busy managers, as you may learn according to your schedule. You need to check the duration of the course before you enrol.
Various training institutes provide courses for professionals. Whether you want to learn management skills or communication skills, these courses may help you achieve your objectives. Make sure that the certificate you get at the completion of the course is from an authorised body. This will add to your professional qualification.
Rose Hamilton is an IT consultant. She provides a brief overview of the basic course in finance for non-finance managers. Whether you are looking for general courses, such as courses that help you learn effective communication skills, or specialised courses, such as courses that prepare you for VMware jobs, she suggests you visit www.sureskills.com.