Financial Awareness for Non-Financial Managers
1. Course Overview
This 10-day course provides the participants with an opportunity to update their financial skills and gain a better understanding of the planning and control processes present in a commercial service organization. This highly interactive program has been devised to translate their learning directly into the workplace with case studies and scenarios based on real business problems and solutions.
2. Who Should Attend?
This course has been designed for operational and departmental managers who are required to interpret periodic performance report and develop operational strategies to meet business objectives. The ability to understand financial performance is a prerequisite to driving business performance and the principle aim of this course is to improve commercial knowledge and decision making skills.
3. How Will You Benefit?
At the end of the workshop, participants should be able to:
• Interpret the business profit and loss account and improve business decision making
• Understand the difference between cash and profit
• Understand and interpret the business balance sheet
• Utilize methods for controlling material (food and beverage) costs
• Utilize methods for controlling labour costs
• Interpret business performance using both financial and non-financial approaches in a balanced format
• Appreciate the importance of positive cash flows
• Implement practical measures to control cash flows
• Extrapolate forecasted sales and costs from historical performance
• Prepare basic budget plans for revenue and costs
• Understand the principles of budgetary control
• Understand the environmental factors which impact on the business and use analytical tools for assessing the business position
QAR 4,500 per participant.