IoD Finance for Non-Financial Directors (Certificate Programme) (Isle of Man)
Demystify the complex world of finance by booking your place on the IoD’s Finance for Non-Financial Directors course. This is a three day training event, plus post-course reading, that enables directors to gain essential knowledge to allow them to contribute to financial discussions in the boardroom.
Understanding financial concepts and knowledge is now vital for all directors. This course teaches delegates to understand and utilise key financial terminology, principles and skills in the modern business environment.
The course is one of four modules that together result in the IoD’s Certificate in Company Direction. Secure your spot on the Finance for Non-Finance Directors course today.
We also run this course in Salford
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A highly regarded and extremely popular IoD module, the Finance for Non-Finance Directors course enables delegates to develop the necessary skills to evaluate and monitor a business’ financial health.
Throughout the course you’ll gain an understanding of accounting principles and standards, and learn to compile financial statements. You’ll find out about the financial duties expected of directors, learn to interpret the key components of capital investment, and - using accepted financial ratios -establish the financial health of a business.
On top of this, delegates who attend the course will discover the various sources of finance available and their pros and cons.
Finance for Non-Financial Directors is aimed at directors, aspiring directors, and senior directors looking for a deeper understanding of company finance.
Section 1 - Financial Role and Responsibilities of Directors
- Directors Duties, focusing on understanding collective responsibility
- The role of finance in business
- Key financial governance issues
- Introduction to accounting concepts, including the Companies Act and Accounting Standards
- Financial strategy
- Understanding the concept of Shareholder Value
- What to expect from the Finance Director or finance function
Section 2 - Financial Statements
Accounting Concepts (including Going Concern, Accruals, Prudence and realisation, Consistency, True and Fair/Fairly Present, Valuation)
- The Profit and Loss/Income Statement
- The Balance Sheet
- Cash Flow Statement
- Financial terminology
- The impact of business and strategic decisions on the major statements
Section 3 - Assessing Financial Health
- A framework for financial analysis
- Ratio Analysis
- Cash Flow Ratios
- Creative Accounting – looking behind the figures
Section 4 - Financial Reporting and Management Accounts
- The differences between financial and management accounting
- Budgeting, forecasting and monitoring, with particular reference to financial measurements and Key Performance Indicators (KPIs)
- Break even Analysis
- Costing systems
Section 5 - Sources of Finance
- Why businesses need funding - raising short, medium and long term finance
- Bank finance and managing the bank relationship(s)
- Raising capital from Stock Markets
- Raising Capital from Private Equity providers
- Dividend Policy - What lies behind the dividend decision?
Section 6 - Creating Value
- Cost of Capital
- Project Appraisal Techniques
- Valuations of businesses
- Protection of assets
Section 7 - Corporate Failures
- Causes of corporate failures
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On completion of the Finance for Non-Financial Directors module, delegates will be:
- Able to define the financial responsibilities of directors and have the knowledge required for good governance and promotion of shareholder value
- Able to clarify the ingredients of financial strategy
- Familiar with the major statutory financial statements.
- Able to assess the financial strength of a company in a structured way using typical financial ratios
- Able to differentiate between management and financial accounting
- Aware of monitoring financial performance and the importance and positioning of Key Performance Indicators (KPI)
- Familiar with the various issues behind funding and the various sources of capital
- Able to appreciate why companies fail