Finance For Non-Financial Managers Training

Financial Acumen for Non-Financial Professionals

“After years of personally working with LSA around finance for non-financial managers, our company engaged LSA to do a specialized “train the trainer” program, and the consultant’s performance outdid our exceptionally high standards for such a program. Very crucial to the success of this program was the work done upfront to discuss our needs and to interview key members of our organization so that the program specifically met our goals. Wonderful job as always.”
Frank Abbott | Chief Financial Officer | Community Health Group

Description:
Are your managers lacking Business Literacy and Financial Acumen at a time when you need it most?

Can they calculate the ROI of an important project or conduct a breakeven analysis?

A majority of U.S. managers surveyed by the Business Literacy Institute were unable to distinguish profit from cash, and many didn’t know the difference between an income statement and a balance sheet. Not knowing the basics of finance can cramp a manager’s performance and confidence. It also can negatively impact their perception in the eyes of their boss and team.

This two-day customized financial acumen workshop is directed toward professionals in non-financial areas who are responsible for financial and business outcomes.

The customizable Finance for Managers program provides the managerial tools to measure the financial impact of their decisions on profitability and cash flow. They will learn the language of finance and put into practice the financial tools that will assist them in making better decisions as managers. This Finance for Managers program is customized to use the financial statements, language, and industry metrics of your organization.

The overall objectives of this hands-on Finance for Managers workshop are to:

  • Provide a basic understanding of financial statements and how they relate to business activities.
  • Create a clear understanding of how management actions impact financial performance.
  • Build a foundation in financial concepts and processes that can enable managers to improve financial planning techniques and operational decisions.

Learning Objectives:

  • How to read and interpret a balance sheet and income statement
  • The basics of accounting for the business cycle
  • The nature of costs and how they impact break-even, profit and changes in volume
  • Financial ratio analysis
  • Project ranking using Net Present Value and Internal Rate of Return
  • Planning and budgeting

Target Audience:

  • Managers, individuals, and project leaders.
  • Non-financial managers with responsibility for generation of revenue, cost centers, purchasing of assets, or expending resources.

Standard Workshop Outline:

1 – Financial Statement Fundamentals

  • Understand the basic transactions needed to account for a business cycle.
  • Understand the relationships between the Balance Sheet and Income Statement.
  • Know the five big-picture choices of accounting.

2 – The Balance Sheet

  • Identify and describe the difference between assets, liabilities, and equity.
  • Understand the impact of depreciation on cash flow, net income and management behavior.
  • Understand when to forecast or accrue potential liabilities.
  • Analyze a Balance Sheet using ratios

3 – The Income Statement

  • Interpret the financial information on the Income Statement.
  • Define the relationship between the major components of the Income Statement, also known as the P&L.
  • Calculate and analyze profitability and growth ratios
  • Complete a Common Size Analysis.
  • Complete a Horizontal Analysis
  • Understand the impact of their decisions on the Income Statement

4 – Cost Analysis

  • Determine Fixed versus Variable Costs.
  • Understand the cost drivers behind Variable Costs
  • Understand the relevant range over which Fixed Costs remain fixed
  • Understand Contribution Margin and the Contribution Margin Income Statement.
  • Calculate Break-Even and Target Profit levels in Sales Units and Sales dollars using the Contribution Margin approach.
  • Analyze the impact of changes in volume on Gross Margin and Net Income.

5 – Financial Ratio Analysis

  • Expand on their use of financial ratios to analyze financial statements.
  • Understand the drivers behind utilization ratios.
  • Use financial ratio analysis to identify potential problems whose symptoms may be reflected on the income statement or the balance sheet.
  • Apply the concept of ratio analysis to day-to-day operations.

6 – Forecasting and Budgeting

  • Understand the basics of the forecasting and budgeting process
  • Establish a link between a company’s mission and objectives and your cost center’s budget.
  • Develop an effective resource plan.
  • Understand how to prioritize spending based on financial targets and business objectives.
  • Analyze changes in the forecast using Contribution Analysis

7 – Strategic Investments Analysis

  • Understand the importance of strategic investment analysis to the firm
  • Understand the concept of the time value of money
  • Analyze and prioritize projects using the following modeling tools:
  • Cash Payback Model
  • Net Present Value Model
  • Internal Rate of Return Model
  • Understand the impact of other non-financial factors in the decision-making process

To speak with an LSA Expert and learn about Finance for Managers training program customization and delivery options onsite at your company, please contact us.

Related Information

LSA exceeded all my expectations. We interviewed 7 potential training and consulting partners and selected LSA due to their expertise, flexibility, and breadth and depth of solutions. We were able to construct a management training course from the modules most appropriate to our needs, and are able to provide additional training from their well developed portfolio of experts. Our managers galvanized as a team throughout the session and are better prepared for the rigors of a competitive market.

Mitch Mandich
CEO

Edify

LSA helped us design and deliver a blended learning solution for our leaders to help drive our growth plans in a way that aligned with our specific culture and values. LSA understood our business, had deep expertise in the content areas, tailored the programs to fit our specific needs, and delivered great results. They constantly strive to deliver business impact and align their solutions with our business initiates, culture, and performance management systems. I highly recommend them to anyone looking to take their leaders to the next level.”

Beth A. Taylor
Vice President of Human Resources

Thoratec

Harmonic has worked with LSA for over 8 years. We have found their partnership extremely beneficial. We recently implemented a Management Development Program that was designed and customized to support our company’s strategic initiative of hiring, building, and retaining key intellectual property and human talent. We worked closely with LSA to target and implement the right solutions with the greatest impact. I would recommend LSA to any company that’s looking for a trusted training and development partner.

Janice Passarello
Director of Human Resources

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LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.

Fortune 500 Financial Services Company
Director of Infrastructure & Technology

We partnered with LSA to pilot a customized behavioral interviewing program to help ensure that we continue to hire the best and brightest as we continue to rapidly scale. LSA’s ability to understand our business and our unique culture combined with their desire to ensure that the best practices framework truly fits our performance environment and is highly adopted by our people is a real blessing. Most other firms want to just ‘give you training.’ Not LSA, they are focused on helping me hit our hiring forecasts and attract A players.

Jennifer Remling
Director of Global Recruiting

AKQA

“We turned to LSA to help us custom design and deliver a leadership and management development curriculum to help drive performance. They have done an excellent job diagnosing the business situation, designing an approach that fits our culture, and delivering a first class solution.”

Sally Buchannan
VP Human Resources

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I continue to be impressed by the level of leadership development and management expertise and quality of advice and facilitation that LSA has to offer. What a smart and client-centric group of great people who really know how to help leaders attract, engage, develop and retain top talent.

Tracy Esposito
Director, HR Business Partner

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Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.

Suzanne Kinner
VP Human Resources

Blackhawk Network

LSA helped change our entire culture around meetings, making them more effective and efficient, thus enabling us to concentrate on driving more business.

Terry Wassman
VP of Human Resources

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LSA’s customized Effective Presentation Skills program has helped me elevate my presentation skills to the next level. I now have a much greater self-awareness of my presentation skills and can leverage off of my strengths while working to improve upon other areas. I would definitely recommend this solution to anyone for whom business presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

Avon’s success is dependent on strong relationships among our Customers, Representatives, Associates, and outside resources we hire to help us meet our business objectives. We were very pleased with the results from working with LSA Global to design and facilitate a custom program for our events management team. LSA demonstrated responsiveness, flexibility, and an innovative approach to working with us.

Deanna Rudnitsky
Senior Manager, HR Destiny Sales Region

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LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

Chris Wells
Vice President, HR and IT

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We contacted LSA to help us with customized management development. LSA worked with me to identify a solution that would meet our exact needs. We decided to start at the top and ran the program for our executive team. It was such a great success that we hope to roll it out companywide. We look forward to a long-term partnership with LSA Global and their team of experts.

Barry L. Byrd, SPHR
Human Resources Manager

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We engaged LSA to design and deliver a 6-month custom executive coaching program for a group of our key leaders. The focus of the program was to help a core group of senior leaders to leverage previous investments in management training, to ensure the engagement and retention of key employees, and to push critical strategic initiatives forward. Even with the high expectations of our senior people, LSA has completely exceeded our expectations. I would recommend them to anyone looking to create and implement a custom coaching methodology using proven tools to drive true change.

Ivan Fukumoto
Senior HR Manager - Staffing, Training, & Development

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Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.

Sarah Parks
Senior Project Manager

Hyperion

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