Finance for Non – Finance Executives;  

Understanding of numbers is imperative in today’s highly competitive business world. It is considered as a business language and a basis for business decision making. Accounting is the vehicle that helps the management in planning and controlling the resources of the business. The more important decision, the more need for relevant information. There are financial implications for each decision a manager takes, and even in decision requiring qualitative aspects.

This program is designed for operating managers responsible for functional areas such marketing, production and  human resources.This workshop provides requisite basic concepts of finance & accounting, including terminology and assumptions, valuation, financial statements, identify trends, and study competitors and thus become strategic users of accounting and financial data. The workshop will also encourage participants to do analysis of financial data themselves and know how to drift financial data from corporate reports.

 

Course Contents:

• Importance of Accounting and Finance for Non-Finance Managers for business decision making.
• Mastering in reading Balance Sheet, Profit and Loss Account and Cash Flow Statements along with key accounting concepts, assumptions and statutory requirements.
• Understanding how performance of marketing, sales, production & inventory management is reflected in Financial Statements.
• Techniques for analysis of financial statements to provide basis for evaluating financial and management performance.
• Analysis of Cash Flow Statements.
• Product cost sheets and role of non-finance professional in product cost reduction and combating competition or sales price constrains.
• Cost concepts & their use for business decision making including concurrent engineering, cost of quality.
• Break Even analyses- for planning a new business and controlling the operations.
• Budgeting – techniques & importance, operating, financial and cash budgeting.
• Working Capital Management & Capital Structuring.

Learning Outcome:

• To remove fear of accounting and finance and to communicate effectively with Finance Executives.
• To acquire a solid grasp of how information is conveyed in basic financial statements and monthly reports reflecting the performances; how to analyze the information, how to use the information to make informed decisions.
• To enhance the decision making skill by using accounting, cost and management accounting concepts in day to day operating decisions and planning the business models.

Corporate Reporting and Governance & Companies Act

Corporate governance is the system by which a company is directed and controlled. It essentially involves balancing the interests of a company’s many stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community. Boards of directors’  role is to oversee the management and governance of the Company and to monitor senior management’s performance and it is to be distinguished from day to day operational management of the company . The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate structure is in place

To make aware Business Professional about legal requirements relating to Corporate Reporting  and Financial Reporting and key features of the Code of Corporate Governance including  Composition of  Board of Directors and Board’s Responsibilities .

For Public Sector Companies : SECP issued the Public-Sector Companies (Corporate Governance) Rules in 2013 vide SRO 180. These rules apply to Public Sector Companies in Pakistan. As per Rule 13(3) all Public-Sector Companies are compulsorily required arrange at least one orientation program annually for their Directors (Executive, Non-Executives and Independent Directors) to acquaint the Board members with the wider scope of responsibilities concerning use of resources, to act in good faith and in the best interest of the Company