Finance for Non-financial Managers

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Course Overview

The Financial Management for Non-Financial Managers programme is designed to give participants the necessary knowledge and skills in order to understand and implement basic financial concepts.

• A theoretical overview and a practical application of concepts and current practices in efficient and effective financial management
• Knowledge sharing of the practical issues and challenges of financial management, including successes and failures
• A plan to initiate and sustain financial management using various techniques and tools
• The ability to change what does not work and incorporate new measures

Learning Outcomes

• Apply the concept of budgeting
  -Define and prepare a variety of budgets according to recognized accounting procedures
  -Apply the applications of a zero based budget in line with the principles of budgeting
• Apply the concept of standard costing
  -Explain the objectives of a standard costing system per the accepted accounting explanations
  -Design a standard costing system and determine standards are using accepted accounting methods
  -Prepare a variance analysis is prepared by calculating the variances based on job and process costing systems and variable and absorption costing approaches and using accepted accounting methods
  -Prepare a report on the variance analysis in line with the principles of planning and control
  -Prepare a reconciliation of budgeted profit to actual profit and account for variances using generally accepted accounting methods
• Explain and apply the concept of decentralised control
  -Discuss the advantages and disadvantages of a decentralised control system in the light of the accepted principles of planning and control
  -Explain the choice between cost, profit and investment centres according to the recognised principles of planning and control
  -Measure the performance of decentralised units by applying the return on investment and residual income methods
  -Explain the aims of transfer pricing as defined in accounting policy documents
  -Define a transfer price based on market and cost based information according to accepted accounting definition
   

Duration

• 2 days contact time including group activities and plenary sessions
• 30 days self study after which participants submit their portfolio of evidence

Unit Standard Alignment

A certificate of completion will awarded upon successful completion of a portfolio of evidence

Unit Standards

This course is aligned to the following unit standard

• 13102: Budgeting, costing and decentralised control
  NQF Level 6
  15 Credits

 

Please Note:

• Although great care is taken to ensure accuracy of the information on this site, please confirm all important details including dates and fees at time of registration.

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