Finance for Non-Finance

About This Course

This training is designed for managers from non-financial corporate departments who regularly communicate with senior finance executives and need to develop practical finance and accounting skills relevant to their professional roles.

The training aims to develop a general understanding of how your decisions and activities affect your company’s profitability and cash flow. It is designed to reflect the current financial and economic conditions faced by companies in the local market.

In addition to covering the fundamental concepts of finance, this training will provide you with a comprehensive understanding of how financing decisions influence organizational value. By the end of the training, you will be able to integrate financial measures into business decision-making.

The training has a strong practical focus, enabling you to immediately apply your newly acquired technical knowledge in your day-to-day work.

Methodology

The methodology is designed to provide practical, informative, and easy-to-use material tailored to the real needs of non-financial department managers. The workshops encourage active participant involvement in addressing and solving financial challenges faced by their organizations.

Upon completion of the training, participants will have a detailed and practical understanding of:

  • Understanding the fundamental principles of finance and accounting
  • The importance of budgeting in the context of financial control within a business
  • Using company financial statements to support the development of your department
  • Understanding how decisions made within your respective departments affect the company’s overall financial position and performance
  • Understanding the importance of liquidity, capital management, and asset turnover
  • Avoiding overtrading and understanding its impact on liquidity
  • Using the cash conversion cycle to calculate short-term financial requirements
  • Conducting a detailed analysis of the cash flow statement and understanding its central role in forecasting the company’s ability to repay debt

  • Fundamentals of Finance
    1. Understanding fundamental financial and accounting principles
    2. Types of financing

  • Financial Statements

    Elements of financial statements:

    • Balance Sheet
    • Income Statement
    • Cash Flow Statement
    • Using financial statements to support business development
  • Financial Analysis
    1. Financial statement analysis
    2. Analysis of financial indicators:
      • Liquidity indicators
      • Profitability indicators
      • Financial structure indicators
      • Activity indicators
    3. Understanding and applying key financial indicators to assess company performance
  • Q&A and Interactive Discussion

  • Introduction to Capital Management
    1. Definition and importance of capital management
    2. Objectives of effective capital management
    3. Key components of capital structure
  • Capital Management and Financial Indicators
    1. Key financial indicators affected by capital management
    2. Debt ratios and their implications
    3. The impact of capital management on Return on Investment (ROI)
  • Working Capital Management
    1. Understanding working capital
    2. Strategies for optimizing working capital
    3. Managing receivables and payables
    4. Inventory management and liquidity considerations
  • Cash Flow Management
    1. The importance of cash flow for business stability and sustainability
    2. Tips for effective cash flow management
    3. Maintaining a healthy cash position
  • Forecasting the Future Financial Position of a Company
    1. Sales forecasts
    2. Working capital requirements
    3. Factors affecting profitability
    4. Assessing borrowing requirements
    5. Budgeting
  • Best Practices and Case Studies
  • Q&A and Interactive Discussion

Online Assignment and Case Study Analysis

Day 3 will be delivered through an interactive online platform, where participants will work on case studies and assignments designed to consolidate the financial concepts covered during the training.

Gjorgji Petrushev is the CEO of Mlekara AD Bitola, with proven experience in building business partnerships and collaborating with boards, banks, investors, international financial institutions, and government bodies.

He focuses on formulating and actively implementing growth strategies. He has strong expertise in business analysis, identifying key growth drivers, and achieving measurable results. He is focused on creating value through the effective use of data and analytics, improving business operations, and advancing product marketing strategies. He is also a strong advocate of lifelong learning and continuous professional development.

Ivan Dinevski is an independent consultant with more than 20 years of experience in senior management positions in banking and financial services. He has provided mentorship and technical assistance to more than 100 companies in the country in the areas of project management, business planning, financial management, and access to finance.

Frequently Asked Questions

No. The course starts from the basics and builds up. If you can read a spreadsheet, you're ready.
No special software is required. Basic spreadsheet familiarity (Excel or Google Sheets) is helpful but not mandatory.
Yes, upon successful completion of the case study assignment
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