Short Learning Programme on Finance for Non-Financial Managers

Almost every individual in a business makes financial decisions on a daily basis, some without even being aware of making these decisions. Courses in financial management equip decision makers at a variety of levels within the organisation with tools to enhance their ability to make rational business decisions that will create value in organisations.

Purpose of the course

The course for non-financial managers aims to equip non-financial specialists with the necessary skills to 1) better understand their financial specialist colleagues and 2) to improve their own judgement of financial issues and financial management skills. The final objective is to get everybody aligned to optimise value creation in the entity.

Admission requirements

Basic understanding of accounting, and financial concepts and have limited mathematical skills (NQF level 4 and/or 5).

Learning assumed to be in place

National Senior Certificate or an equivalent NQF Level 4 qualification.

Course outcomes and assessment criteria

Course outcomes and the associated assessment criteria

Study Unit	Outcomes	Assessment Criteria
	After completion of this course, participants will:	Participant will be assessed on the following criteria:
Financial Statements - Basics and Analysis.	- Be able to demonstrate how the financial and business environments influence the wealth creation process in a business; - be able to demonstrate knowledge on the workings of financial statements; and - be able to analyse financial statements.	- Utilise financial environment information to demonstrate how it influences the variables contained in the financial statements, - evaluate the effectiveness with which financial statements are used in the organisation, - to comment on the wellness and management effectiveness of a business based on financial statement analysis.
Essentials of Management Accounting.	- Understand the major processes that management accounting systems use to manage resources and to create value; - understand behavioural issues and the cost-benefit trade-offs that need to be considered in the design of management accounting systems; - understand how the budgeting process fits into the wider strategic planning and control process of an organisation.	- Explain and illustrate the different measures of product costs for different purposes, - understand and be able to outline the flow of cost through the accounts used in product costing, - be able to distinguish between job costing and process costing, - identify and understand the behaviour of fixed and variable costs, - be able to calculate break-even points, margins of safety and operating leverage, - be able to apply cost-volume-profit concepts to planning, control and pricing decisions in the organisation, - understand the budgeting process and how budgets are developed and used in responsibility accounting systems, - understand and be able to draw up the various components of the master budget.
Projects and their valuation.	- Discuss capital budgeting; - explain capital budgeting techniques; - use capital budgeting decision rules in practice; - to value projects based on earnings potential and the risk associated with a specific project. - make rational investment decisions.	- Explain and give the steps in the capital budgeting process, - to do the required calculations and apply appropriate techniques to evaluate projects for investment purposes, - to make recommendations regarding implementation of projects whether acceptable or not.

Assessment

To pass the programme, a participant has to obtain a mark of 50% (or more).

Method of assessment

Case studies, exercises and company specific problem solutions.

Additional information

Programme number

H06-100-1

Mode of delivery

Contact

Target group

Managers with a need for basic financial skills but currently have limited and/or no financial management skills. These individuals will come from a variety of levels in a business organisation.