3 Best Ways for Learning Finance for Non-Finance Managers
Many individuals assume that Learning Finance for Non-Finance Managers is a challenging task. But The truth is it is easy to acquire finance-related knowledge and skills through the right means. If you are a non-finance manager in search of resources to learn finance, you are at the perfect platform. Today, you will get exposed to a range of mediums that allow you to collect and utilize finance-linked knowledge in your stream. First, let us understand why a non-finance manager is assigned finance tasks.
Reasons Why a Non-finance Manager Has to Deal with Finance Operations
It is common for finance managers to handle the finance and accounting departments. However, non-finance managers are usually more focused on the non-finance processes. But they are requested to make decisions for the growth of the company. And as a matter of fact, every business decision affects the company’s financial position. This is why non-finance managers like sales managers, operations managers, and marketing managers are requested to learn about the finance and accounting subjects to understand the impact of their decisions and accordingly approve or reject suggestions for the progress of the company.
3 Ways for Non-finance Managers to Learn Finance
Though the internet shows millions of results to acquire knowledge and skills related to finance. Most of them may not work due to improper application of the techniques or misunderstanding of the concepts. You as a non-finance manager can efficiently learn finance by
- Courses
- Books
- YouTube
Courses
Many institutes are ready to offer finance courses for students who do not have knowledge about the subject. Some of the renowned finance courses online are offered by
- IIM SKILLS
- Indian Institute of Management Bangalore (IIMB)
- Udemy
- KPMG
- EY Virtual Academy
- University of California, Irvine (UCI)
- Zoe talent solutions
IIM SKILLS:
IIM SKILLS is a well-reputed organization that focuses on the welfare of learners. It provides a range of upskilling programs for its students; writing programs, marketing programs, finance programs, and competitive exams preparation. Since we are talking about finance courses, let’s look at the programs it provides for curious beings.
Non-finance managers have a basic or no understanding of accounting concepts. The best way to Learning Finance for Non-Finance Managers is to pick the courses mentioned above. Lets look at Financial Modeling Course. This program not only helps the learners grasp the basics of the subject but also assists in understanding the impact of decisions on the financial aspect of the company.
Course Curriculum
The modules in the course that cover the below topics
- Fundamentals Of Excel
- Financial Statements
- Ratio Analysis
- KPI
- Income Tax with Tally
- Financial Models In Detail
- Advanced Excel & MIS reporting
Modules Covered In Detail
| Module 1 – Basic and Advanced Excel (8-10 hours) Module 2 – Accounting Concepts and Financial Statements (5-7 hours) | Module 3 – Ratio/KPI Analysis (4-6 hours) Module 4 – Basics of Financial Modeling (4 hours) |
| Module 5 – Different Types of Financial Models (12-15 hours) | • LBO Model • M&A Model • Private Equity Return Model • 13 Week Cash Flow Model |
| Module 6 – Business Valuation (7-9 hours) | • Relative Valuation – Trading and Transaction Comps • DCF Valuation • NAV Approach for Valuation |
Course Highlights
- Master Certification
- Tools Driven Training
- Lifetime access
- 24×7 support
- Practical learning
- Internship opportunities
- Placement assistance
Course Details
Fees: ₹39,900+18% GST
Duration: 4 months
Contact Details
Phone: +91 9580740740
Email: [email protected]
Other Professional Courses from IIM SKILLS
- Digital Marketing Course
- SEO Course
- Technical Writing Course
- Content Writing Course
- CAT Coaching
- Investment Banking Course
Indian Institute of Management Bangalore (IIMB):
IIMB is one of the most reliable graduate schools of management in the world. Its vision is to become a renowned global academic institution that promotes excellence in innovation, entrepreneurship, and management for government, society, and business. Its mission is to nurture creative global entrepreneurs, leaders, social change agents, and policymakers through transformative and holistic education. It also aims to offer thought leadership to encourage positive impact and pursue excellence in thought leadership and education without letting interference of any tradeoffs.
It offers a variety of educational programs; degree-granting programmes and certificate programmes. A separate program is designed to promote Learning Finance for Non-Finance Managers. It was named ” Finance for Decision Making”. This is taught at the campus for students interested in acquiring relevant accounting knowledge.
Course Curriculum
- Introduction to financial statements
- Working capital Management
- Capital financing and budgeting
- Indian Financial Markets Overview
- Cost Management
- Latest advances in Finance
Any head of a division/function, manager, or middle-level manager can attend the program. They can utilize the opportunity to understand the basics of accounting and thereby update their knowledge of the fundamentals of finance and accounts.
Course Details
Fees: Residential Fee: ₹1,35,000, Residential Early Bird Fee: ₹1,21,500, Non-Residential Fee: ₹1,10,000, Non-residential Early Bird Fee: ₹99,000.
Note: GST is not included in the above-mentioned fees.
Duration: 5 days
Contact Details
Phone: +918951974078/ +918951974080
Email: [email protected]
Udemy:
Udemy is an international learning platform. It allows anyone from any part of the world to access its medium and acquire knowledge and skills for a certain price. Over 62 million people used Udemy to update their knowledge and skill set. It has been noted that approximately 830 million enrollments were made. The platform offers courses in 75 different languages. Around 210k courses have been led by 70k instructors. There are many programs created for students with different educational backgrounds. Some of the popular topics on which udemy created content are Python, Excel, Web Development, JavaScript, Data Science, Drawing, and Amazon AWS.
You can also find courses on subjects like personal development, business, photography, music, IT & software, marketing, design, finance, and development. “Finance for Non-Finance Manager” is a course designed by udemy for promoting a simpler mode of Learning Finance for Non-Finance Managers.
The program is a boon for non-finance managers to acquire supplement skills to explore better job opportunities, improve their business, or get a raise.
Course Curriculum
- Basics of Finance
- Introduction to balance sheet & income statement
- Preparation of Balance sheet, cash flow statement, and P&L
- Financial statements
- Assets on balance sheet
- Liabilities & equity on balance sheet
- Cash flow statement
- Management accounting
- Pricing
- Financial statement analysis
- Budgeting
- Working capital management
- Investment appraisal
Course Highlights
- 15 downloadable resources
- Access on TV and mobile
- Full lifetime access
- Certificate of completion
Course Details
Price: ₹449
Duration: 6 hours (self-paced)
KPMG:
KPMG is one of the Big 4 companies. It is known to provide financial & business advisory, internal audit, corporate governance, and Tax & regulatory services. It was established in the year 1993. Currently, it operates in 14 cities in India which include Noida, Vadodara, Pune, Vijayawada, Hyderabad, Chennai, Jaipur, Kolkata, Kochi, Bengaluru, Ahmedabad, Chandigarh, Gurugram, and Mumbai.
It offers training on a range of streams like accounting, digital consulting, sustainability reporting, and it has designed a special course for learning and development professionals.
The “Finance for non-Finance executives” is a program that is suitable for many employees of varied organizational levels. This is a sixteen-hour programme. This program is specially designed for professionals from non-financial functional areas such as research & development, production, human resource, procurement, and production. It assists the operating managers to understand the financial concepts and thereby make business decisions involving budgets, cost-savings, growth strategies, and new project decisions.
Course Curriculum
- Basics of financial accounting and financial statements
- Balance sheet
- P&L account
- Cash flow statements
- Profit v/s cash flow analysis
- Working capital management
- Meaning of working capital?
- Types of working capital
- Elements of working capital and operating cycle
- Decision-making related to working capital management.
- Cost information for budgeting and decision-making
- Cost concepts including marginal costing
- Cost definitions
- Make or buy
- Shut down or continue
- Sell or process further
- Domestic vs export sales
- Need and kinds of budgets
- Different approaches for budgeting
- Common budget types
- Budgetary control process
- Limitations of budgets
- Case studies and illustrations.
- investment projects’ evaluation
- Introduction to capital budgeting
- Ways to capital budgeting
- Capital budgeting techniques
- Practical application of internal rate of return and net present value
- Characteristics of capital budgeting decisions
- Case studies and illustrations.
- Question and answer session
Course Highlights
- Certification
- Discussions on real-life cases
- Training materials are provided to the participants
Course Details
Fees: ₹15,000 excluding GST
Duration: 4 days
Contact Details
Reach out to the KPMG official website to submit your inquiry and receive details about the course.
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EY Virtual Academy:
Ernst & Young is a leader in offering tax, assurance, advisory, and transaction services. The main purpose of EY is to build a better world. It provides a range of quality services and insights to create and build trust in the economies and capital markets. It has set up a virtual academy for learners to acquire skills and knowledge useful for their career progress. All the courses offered at the virtual academy are certification programs.
Some of the trending certification programs at the virtual academy are a certificate in financial modeling & valuation, a certificate in supply chain analytics, and anti-bribery & anti-corruption.
A specialized program to promote Learning Finance for Non-Finance Managers is in place, Certificate in Finance for Non-Finance Managers. Middle-level managers, business owners, non-commerce graduates, self-employed non-finance professionals, and heads of non-financial functions/divisions can avail of this course.
Course Curriculum
- Introduction to financial statements
- Interpretation of financial statements
- Regulatory structures’ overview
- Cost analysis for decision-making
- Creation and management of budgets
- Working capital management
- Evaluation of investment proposal using capital budgeting
- Capital structure and cost of capital
- Means of financing
- Personal tax planning
- Financial instruments and markets
- Case studies and exercises
Course Highlights
- Learning Videos
- Presentations
- Online Assessments
- Certificate of Completion
- Support through Email
- Six months of free access to LMS
There will be an assessment test to complete the course and avail of the certificate. Students are required to score a minimum of 50% to get certified.
Course Details
Fees: ₹12,000 excluding taxes
Duration: 11 hours of video content
Contact Details
Phone: +91 9168161122
Email: [email protected]
University of California, Irvine (UCI):
UCI is a leading public university among American universities. It was founded in the year 1965. It is known to have educated over 36,000 students and offered 222-degree programs to date. Its mission is to provide students with highly innovative, valued, and practical learning experiences for their professional & personal success. Its vision includes delivering exceptional quality, operational excellence, meaningful student experience, and vision-driven culture along with diversity, inclusion, equity, and belonging.
The finance for the non-financial manager is a program designed to help non-financial managers deal with the profitability of the organization in an effective way. Any individual who takes up this course has reported understanding concepts of accounting and finance and drove the organization’s growth. The in-depth knowledge acquired from this course will allow the learners to make better decisions for the progress of their company.
Course Curriculum
- Financial analysis
- Forecasting
- Planning
- Budgeting
- Cash flow
- Strategic financing
Course Details
Fees: $750
Duration: 3 months
Contact Details
Phone: +1-949-824-5414
Email: [email protected]
Also Check,
- 3 Statement Financial Model
- Types Of Financial Advisors
- Financial Consultancy Firms in India
- Investment Banker Profile
- Transaction Advisory Services
- Who is A Financial Advisor
- Investment Banker Profile
Zoe Talent Solutions:
Zoe talent solutions is a platform designed to empower corporations through their human resources. They are dedicated to providing impactful consulting solutions and quality training for the achievement of organizational goals.
Their main aim is to provide talent strategies to clients for the optimization of the performance of individuals and thereby promote the success of the organization. They have designed many courses on a range of subjects like accounting & finance, agribusiness sustainability, banking, investment, insurance, audit, compliance & governance, communication & writing skills, contrast management & law, and customer service courses. That being said, there are many more courses created by them to enlighten people with other educational and professional backgrounds as well.
The “Finance for Non-Finance Managers Course” is a program designed by zoe talent solutions to allow Learning Finance for Non-Finance Managers.
Course Curriculum
Module 1 – Basic Accounting Concepts
- The Accounting Process
- Cash Vs. Mercantile Accounting
- Accrual Concept
- Stock Valuation – FIFO Vs. LIFO
- Types of Accounting
- Revenue Recognition
- Cap-ex. vs. Op-ex.
- Depreciation/Amortization
- Tangible vs. Intangible vs. Capital W-I-P
- Current vs. Non-current
Module 2 – Basics of Financial Statements
- Profit & Loss Account
- Balance Sheet and SOCIE
- Cash Flow Statement
- Notes to Accounts
Module 3 – Financial Statement Analysis
- P&L Statement Analysis
- Balance Sheet Analysis
- Funds Flow Analysis
- Ratio Analysis
- Trend Analysis
- Common Size Analysis
Module 4 – Working Capital Management
- Concept of Working Capital
- Trade Receivables and Managing Inventory
- Managing Trade Payables
- Working Capital Management and Budgeting
Module 5 – Capital Budgeting
- Capital Expenditure Evaluation
- NPV Technique
- IRR Technique
- Pay Back Method
- Risk Analysis
Module 6 – Costing Techniques and Cost Management
- Cost Concepts
- Various Costing Methods
- Breakeven Analysis
- Costing Vs. Budgeting
- Strategic cost management
Module 7 – Revenue Management
- Revenue Recognition and revenue leakages
- Revenue Vs. Trade Receivables
- Revenue Vs. Trade Payables
- Foreign Exchange Management Vs.Revenue
Module 8 – Introduction to IFRS
- Introduction to Accounting Standards
- Generally applicable IFRS
- Discussion on Specific IFRS
Course Details
Fees: $3147 (7 days), $4495 (10 days)
Duration: students have the option to choose 7 days or 10 days course
Contact Details
Phone: +44 7443 559344
Email: [email protected]
Books That Promote Learning Finance for Non-Finance Managers
Apart from courses for non-finance managers, there are documents and books that can help a manager educate himself on finance concepts. Books are considered one of the best sources for knowledge and learning finance as they let the readers read and take in the concepts at their own pace. Some of the books that are written for non-finance managers’ benefit are listed below.
1.The Essentials of Finance and Accounting for Nonfinancial Managers by Edward Fields
This book will help a manager understand the roots of accounting. A manager will learn to interpret the financials of a company like income statements, cash flow statements, balance sheets, and annual reports. If you ensure to complete reading this dense book, making decisions becomes a cakewalk for you.
2. Finance for Non-financial Managers and Small Business Owners by Lawrence Tuller
This book is specifically written for non-financial professionals who have to deal with banking, cash management, raising capital, and planning. This book has content that is useful for managers to handle business operations in a practical way.
3. Finance for the Nonfinancial Managers by Herbert T. Spiro
This is the best book to teach finance concepts in the simplest way. Any individual who reads this book will become confident in dealing with cash-linked aspects of a business. It lets you read and understand the financial reports and accordingly make decisions for the improvement of the business. Learning breakeven analysis, creating profit & loss accounts, and interpreting the financials of a company becomes easy with the help of this book.
YouTube Channels for Learning Finance for Non-Finance Managers
We have discussed courses and books that help non-financial managers learn finance. Now it is time to look at the most feasible and simple approach to Learning Finance for Non-Finance Managers. YouTube channels are the best source of finance content. Many established and well-experienced entities are on the platform to break down complex finance concepts into simple ones. The most popular and trending channels that have highly talented people as tutors are.
- Easy Peasy Finance
- The Finance Storyteller
- Finance Tube
- Executive Finance
- Kaila
These channels are created to teach finance and accounting concepts to everyone, irrespective of their educational background. No wonder, they have millions of views and thousands of subscribers. All you have to do is subscribe to their channel and use the bell icon to get the latest updates. The good part about choosing YouTube videos for learning finance is that the speakers mention links to study material in their description boxes to let learners access and buy them.
Must Check,
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- Financial Modeling Course Eligibility
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- Financial Modeling Salary
- Scope of Financial Modeling
- Financial Modeling
- Financial Modeling Books
Conclusion on Learning Finance for Non-Finance Managers
Almost every head of a division has to make decisions for the improvement of the business. And every decision will have an impact on the financial aspect of the business. This is why it is crucial for all managers irrespective of their division to have a basic understanding of finance and accounting aspects. There are many ways to learn finance and accounting concepts. However, courses, books, and video content have been found to be the most effective approaches.
- IIM SKILLS
- Indian Institute of Management Bangalore (IIMB)
- Udemy
- KPMG
- EY Virtual Academy
- University of California, Irvine (UCI)
The above institutes are known for offering courses that promote effective Learning Finance for Non-Finance Managers.
Books and YouTube channels are also sources of informative content for non-financial managers. However, the absence of interaction with the tutor to clear doubts is a drawback that makes the readers and web users back off.
FAQs on Learning Finance for Non-Finance Managers
Q. Is Learning Finance for Non-Finance Managers easy?
Yes, it is easy for any non-financial manager to grasp the basic concepts of accounting and finance through reliable and effective means like courses, books, and video content.
Q. Are there any well-established educational entities that are focused on encouraging Learning Finance for Non-Finance Managers?
Yes, there are a few notable institutions that are keen on educating non-financial managers on finance concepts. IIM SKILLS, Indian Institute of Management Bangalore (IIMB), Udemy, KPMG, EY Virtual Academy, and the University of California, Irvine (UCI) are the best entities that catalyze Learning Finance for Non-Finance Managers through specially designed programs.
Q. Why should a non-finance manager have a basic understanding of accounting and finance concepts?
Every manager is obligated to make decisions for the progress of the company. And every decision has an impact on the financial aspect of the company. This is why all managers, irrespective of their divisions, are supposed to acquire knowledge about finance and accounting concepts to make decisions that positively affect the financial position of their company.
