Finance For Non-Finance Professionals (full - day)

Essential Finance for Non-Financial Professionals: Understanding Accounting and Finance Principles

Course Description

Increasingly, managers in every functional area need to understand the basic principles of accounting and finance to improve the effectiveness of their operations and strategy. Financial data has to be analysed in order to make calculated business decisions. By empowering non-financial managers with a framework of essential financial terminology, concepts and applications taught in this programme, it would enable them to analyse and interpret commonly used financial information in making business decisions and working more effectively with the financial managers of their organizations. This programme is aimed at helping managers with little or no knowledge of finance to grasp the basics. It is also simplified to enable fundamental financial concepts to be learnt and remembered well which will enable communication in finance related matters to be more effectively with an increase in the understanding of the performance metrics of the organization and other managerial accounting aspects.

Target Audience

The course will be useful to directors, managers and any other officers that use financial information in the course of their work and do not have any specialised training in understanding financial information. Prior knowledge of accounting or finance is not required to benefit significantly from this workshop.

Course Benefits

• Improved understanding of fundamental accounting concepts and financial terminology, allowing non-financial managers to communicate more effectively with financial managers.
• Ability to analyze and interpret commonly used financial information in making business decisions.
• Increased credibility in proposals due to better understanding of financial terms and issues.
• Understanding of accrual vs. cash accounting and ability to diagnose a company's financial health through ratio analysis.
• Ability to read and understand the Statement of Financial Position (Balance Sheet) and Statement of Financial Performance (Profit and Loss).

Course outline

Through this course, participants will come to understand common financial terms and issues - being on the same wavelength goes a long way in lending credibility to proposals.

This one-day course will cover:

• Fundamental accounting concepts and framework
• Chart of Accounts
• Understanding Statement of Financial Position
• Understanding Statement of Financial Performance (Profit and Loss)
• Financial Ratios

Upon finishing the course, participants should be able to:

• Read the Statement of Financial Position (Balance Sheet)
• Read the Statement of Financial Performance (Profit and Loss)
• Understand the difference between Accrual accounting vs. Cash accounting,
• Use Ratio Analysis To Diagnose A Company’s Financial Health.

Course Fees (Incl GST)

SCAL Member: $280.00

CIJC Member: $305.00

Non Member : $305.00

Speaker Profile

Richard Thai

MBA(NUS),B.Sc.(hons), PGDE, MSCS

Richard Thai is a Principal Consultant from Allegro Consulting Pte Ltd. He has worked on projects with companies like Fudo Construction Co. Ltd, Kusan Construction Co. Ltd, Samsung Engineering and Construction Co. Ltd, McConnell Dowell South East Asia Pte Ltd. Projects experience include ground improvements to MRT projects to building projects.

Richard Thai had over 26 years of experience regarding running companies and providing consultancies to implement ERP projects for companies. He has conducted many academic courses on Financial Accounting and Managerial Accounting for academic institutes like the Republic Polytechnic, RMIT, MIFM seminars and workshops for companies. He has been described by many as a motivating and entertaining speaker with the unique ability to engage a wide audience.

Richard Thai graduated from the National University of Singapore with BSc (Hons) and Master in Business Administration and has Post Graduate Diploma in Education from the Institute of Education (NIE). Currently he is teaching in the institutions like the Republic Polytechnic, SIM and various business schools. He has designed many courses in areas like Human Resource, IT, finance management, operations process, costing, marketing, sales, service management, team management.