Finance for Non-Finance Managers
In the not-too-distant past, managers were basically accountable for managing a team and ensuring that their department’s goals were met, While they had a budget, they weren't required to have a solid knowledge of budgeting, and they certainly didn't need to have a basic knowledge of accounting and finance. After all, that was up to the Finance department!
It was typically very difficult to communicate with the Finance department, because they would resort to jargon and explanations that nobody else really understood. Words like General Ledger, depreciation, double-entry accounting, ledger entries, etc. didn‘t make any real sense, and the managers were also unable to decipher financial reports.
All this has changed for most managers. They are not being asked to undertake an accounting qualification, However, they do need a basic knowledge of accounting, they do need to develop a budget, and also monitor and interpret their budget reports; and they do need to be able to read financial reports and converse reasonably well with the Finance department. Some of the enormous corporate crashes in recent years have also reminded us that accounting as a science is anything but perfect, and that the auditing profession is certainly very fallible.
With financial reports, one sometimes does have to 'read between the lines', and not just rely on the validity and face value of the financial statements. Having said that, they are still very useful tools if read properly, and in conjunction with other information (e,g. supporting documentation, key financial ratios, etc.).
How can managers acquire enough basic financial and budgeting knowledge to get them by, without having to invest considerable time and energy in a further qualification?
We have the answer for you! Narayan van de Graaff who is Managing Director of Advanced HR Solutions, has a Commerce Degree in Accounting and Economics (and some qualifications in Psychology). He has run dozens of one-day Finance for Non-Finance Managers workshops for managers in recent years. What do participants have to say about this workshop?
Below is a sample of responses from satisfied participants:
• "Very good presentation and simple examples to follow up"
• "Presenter easy to communicate with - adjusted terminology with level of skill"
• "Accountancy is not boring!"
• "Exercises very good - help you understand the way it’s all put together"
• "All relevant and timely"
• "Working with examples reland to the organisation's situation was good"
• "I enjoyed the activities and exercises. They were very informative."
• "All the exercises were relevant and interesting, They also test your subjetc knowledge.".
• "Very good presentation"
• "High opinion of presentation - explanations understood and appreciated"
• "Excellent - good examples in layman’s’ terms"
• "Very good - clearly explained things and notes are very good"
Call 0438 792 300 or email us at
training@advancedhr.com.au, so that we
can discuss your needs and explain our process.
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