COURSE OVERVIEW:

Financial Skills is the capability to use relevant knowledge and understanding to manage an expected or an unpredictable situation in order to solve a financial problem and convert it to a benefit and opportunity to one’s advantage.

Also, the ability of an individual to raise capital for his/her company and successfully deploy that capital for useful purposes, through appropriate financial calculations, is known as his/her finance skills.

Financial skills, therefore, refer to the ability to make appropriate financing decisions or at least make a valuable contribution in doing so. An individual with such skills is essentially required to help his/her company (or the one they work for) manage cash at hand and find sources for raising additional capital for the purpose of running and growing the business, making valuable acquisitions, and planning for the future.

Financial skills enable individuals not only to fulfil the current financing needs but also to forecast any future funding requirements, on the basis of which new strategies are devised. Moreover, with the help of these skills, individuals/managers are really facilitated in the identification as well as selection of the value adding projects or strategies for a business.

Therefore, it is safe to say that a company and its top-level executives hold a high regard for any individual with finance skills who is making valuable contributions to the investment and financing decisions of the company because, essentially, he is the reason the business prospers and grows.

This course offers an in-depth analysis of various financial skills crucial for strategic decision-making. Topics covered include analytical skills such as financial awareness, understanding company accounts, forecasting, and budgeting, as well as process skills like financial planning, cost management, and value management.

Additionally, it delves into commercial aspects like cash-flow management and turnaround strategies linked to strategy skills. The course structure includes defining each skill, discussing its pros and cons, identifying when it is needed, exploring relevant techniques, and providing important takeaways.

LEARNING OUTCOMES:

By the end of this course, you will be able to understand:

·       Why are finance skills important?

·       How to improve your finance skills?

·       The budgeting skill. The pros, the cons, when it is needed, relevant techniques for managing budgets and takeaways

·       The different types of budgets

·       The cash-flow management skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       The requirement for cash-flow management

·       The cost Management skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       How the gap analysis can be useful?

·       The credit control skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       The financial awareness skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       The financial planning skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       The sensitivity analysis

·       The forecasting skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       The turnaround skill. The pros, the cons, when it is needed, relevant techniques and takeaways

·       The basic principles of turnaround management

·       The understanding company accounts skill. When it is needed and takeaways

·       How to do an overall review of the five-year record?

·       How to do a quick review of current year’s and last year’s profits?

·       How to do a quick review of directors’ review and highlights?

·       How to probe the balance sheet for financial health?

·       How to calculate the profit?

·       How to examine the cash-flow statement?

·       How are the financial position and prospects interrelated – what are the key business drivers?

·       What future strategic and financial prospects exist?

·       The value management skill. The pros, the cons, when it is needed, relevant techniques and takeaways

COURSE DURATION:

The typical duration of this course is approximately 2-3 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.

COURSE REQUIREMENTS:

You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.

COURSE DELIVERY:

Purchase and download course content.

ASSESSMENT:

A simple 10-question true or false quiz with Unlimited Submission Attempts.

CERTIFICATION:

Upon course completion, you will receive a customised digital “Certificate of Completion”.