Business Finance Literacy and Acumen for Professionals

Overview:

Empower yourself with the essential financial knowledge to make more informed business decisions and contribute strategically to your organization’s success. This practical short course demystifies key business finance concepts and principles for non-financial professionals. Learn to confidently interpret financial statements, understand budgeting processes, analyze financial performance, and leverage financial data to drive better outcomes in your role, regardless of your department. Enhance your financial literacy and acumen, becoming a more valuable and insightful contributor to your organization’s financial well-being.

Course Intent

This course equips non-financial professionals with a foundational understanding of key business finance concepts and principles. Participants will learn to interpret financial statements, understand budgeting processes, analyze financial performance, and make more informed business decisions based on financial data. The goal is to enhance financial literacy and acumen, enabling professionals to contribute more effectively to their organisation’s financial well-being.

Who Should Take This Course?

  1. Non-financial managers 

  2. Team leaders

  3. Project managers

  4. Sales professionals

  5. Marketing specialists

  6. Any professional who needs a better understanding of their organisation’s financial aspects.

Course Content

Module 1: The Language of Business: Understanding Basic Financial Concepts

  • Introduction to fundamental accounting principles and terminology.
  • Understanding the role and purpose of financial statements.
  • Key financial concepts: assets, liabilities, equity, revenue, expenses, profit.
  • Differentiating between cash flow and profit.
  • Understanding the importance of financial planning and control.
  • Ethical considerations in financial reporting and decision-making.

Module 2: Decoding the Income Statement: Understanding Profitability

  • Introduction to the structure and key components of the Income Statement (Profit & Loss Statement).
  • Understanding revenue recognition and different types of revenue.
  • Analyzing cost of goods sold and operating expenses.
  • Calculating gross profit, operating profit, and net profit.
  • Understanding key profitability ratios and their significance.
  • Identifying factors that impact a company’s profitability.

Module 3: Reading the Balance Sheet: Assessing Financial Position

  • Introduction to the structure and key components of the Balance Sheet.
  • Understanding assets (current and non-current) and their importance.
  • Analyzing liabilities (current and non-current) and their implications.
  • Understanding equity and its different components.
  • The accounting equation: Assets = Liabilities + Equity.
  • Understanding key liquidity and solvency ratios and their significance.

Module 4: Navigating the Cash Flow Statement: Tracking Cash Movements

  • Understanding the importance of cash flow for business sustainability.
  • Introduction to the three sections of the Cash Flow Statement: Operating, Investing, and Financing activities.
  • Analyzing cash inflows and outflows from different business activities.
  • Understanding the difference between profit and cash flow.
  • Identifying key indicators of healthy cash flow.
  • Using the Cash Flow Statement to assess a company’s ability to meet its obligations.

Module 5: Understanding Budgeting and Forecasting: Planning for the Future

  • The purpose and benefits of budgeting in organizations.
  • Different types of budgets (e.g., operational, capital).
  • The budgeting process: setting targets, allocating resources, monitoring performance.
  • Understanding the basics of financial forecasting.
  • Analyzing budget variances and taking corrective actions.
  • The role of budgeting in achieving organizational goals.

Module 6: Applying Financial Knowledge for Better Business Decisions

  • Understanding key financial metrics relevant to different business functions (e.g., ROI, break-even point, customer lifetime value).
  • Using financial data to evaluate projects and initiatives.
  • Making informed decisions related to pricing, resource allocation, and investment.
  • Understanding the financial implications of operational decisions.
  • Communicating financial information effectively with finance professionals.
  • Contributing to a financially aware and responsible organizational culture.

For registration details, contact Us:

Email: admissions@sec.africa

WhatsApp: +267 71673370