Award in Finance for Non-Financial Managers

Course Description

The main objective underlying this short programme, is to provide managers who do not have a financial background (especially in SMEs), with an appreciation of the differences between Financial Accounting, Management Accounting and Financial Management.

Participants will be introduced to modern financial tools that are available to help them understand and manage their businesses better. The importance of understanding value measurement is brought to the forefront, so that key values can be identified and managed.

The programme does NOT intend to turn participants into Accountants

The course is targeted for:

• Managers, from various functional areas within a business. Aiming at acquiring the business tools to understand the financial figures in order to help them make better business decisions.

1. How long does the course last?

This is a 40 hr guided learning course. Students need to invest further hours which will include private study and home assignments.

Lessons are held once a week at the Institute of Business and Commerce, Paola between 1730 hrs and 2000 hrs.

2. What will I study?

Learning Outcome 1: Define various technical terms related to accounting and finance

Unit Content

• Understand what drives some of the most common errors in business and how to avoid them
• Breakthrough the language of finance – technical terms

Learning Outcome 2: Interpret financial statements and accounting ratios

Unit Content

• Understand the basic accounting model and its limitations
• Analyse and interpret financial statements within the context of industry analysis and‚   macroeconomic‚   fundamentals
• Apply management accounting tools to business problems

Learning Outcome 3: Generate forecasts and budgets

Unit Content

• Understand the budget process and forecasting techniques
• Link financial objectives to strategy

Learning Outcome 4: Apply cash management and credit control techniques

Unit Content

• Understand the importance of cash Liquidity
• Appreciate credit control and cash management mechanisms
• Identify key value drivers to help manage the value of a business
• Understand different valuation techniques and respective benchmarks

3. Are there any suggested pre-requisites and/or entry requirements for this course?

The following are the suggested pre-requisites and/or entry requirements needed:

Pre-requisites:

• Access to the course is open to managers who do not have a financial background, but who require to be close to accounting work (in-house or outsourced) within their organization (especially SMEs)

Entry requirements:

• Participants are expected to have a working knowledge of English