Understanding business finance
Introduction
The "Understanding business finance: The Finance-Savvy Middle Manager" training is designed to empower non-financial managers with the foundational knowledge and practical skills needed to make sound financial decisions. Delivered in both English and Kinyarwanda, this comprehensive three-day program includes handouts to ensure a seamless learning experience. Participants will gain confidence in interpreting financial data, managing budgets, and contributing to the financial health of their departments and organizations.
Course Overview
This training equips middle managers with the tools and techniques to navigate financial concepts and integrate financial literacy into their decision-making processes. From understanding financial statements to mastering budgeting, forecasting, and cost management, participants will explore practical applications through hands-on activities and real-world case studies. By the end of the course, attendees will be able to make data-driven decisions and align their strategies with organizational financial goals.
Program Focus Areas
Foundational Financial Literacy: Understanding key financial principles, terms, and statements, such as the balance sheet, income statement, and cash flow statement.
Budgeting and Cost Management: Building skills in budgeting, forecasting, and cost optimization to improve resource allocation and financial planning.
Strategic Financial Decision-Making: Empowering managers to assess the financial impact of their decisions and align them with organizational goals.
Recordkeeping Fundamentals: Exploring recordkeeping best practices to track expenses, revenue, and financial progress effectively.
Confidence in Financial Analysis: Enabling participants to analyze financial data, interpret reports, and contribute to high-level discussions with clarity and confidence.
Practical Application: Using simulations and applied activities to translate financial concepts into actionable strategies for day-to-day work.
Key Outcomes
By the end of this training, participants will:
Develop Financial Literacy: Gain a foundational understanding of financial concepts and statements critical to business operations.
Master Budgeting and Forecasting: Acquire practical skills to create, manage, and monitor budgets and financial plans effectively.
Strengthen Cost Management Skills: Learn to identify, categorize, and optimize costs to enhance departmental efficiency and profitability.
Enhance Financial Accountability: Take ownership of financial outcomes by implementing sound recordkeeping practices and tracking financial progress.
Contribute to Strategic Planning: Participate confidently in financial discussions and align departmental strategies with organizational financial goals.
Apply Financial Knowledge to Real-World Scenarios: Use tools and techniques, such as recordkeeping templates, financial planning activities, and cost estimation exercises, to address practical challenges in the workplace.
Certification
Upon completing our Financial Management Training, participants will receive a joint certificate from The Magnet Institute and sfb-esg-soa (centre de formation de technologie et de management), our certification partner. This certificate recognizes their achievement, validates course completion, and showcases their acquired skills. It signifies their dedication to professional growth, readiness for middle management responsibilities, and ability to contribute effectively to their organization's success.
