Financial Management for Non-Finance Expert

Details

Duration: 3 - 5 days
Date: T.B.A 2024
Time: T.B.A
Delivery mode: In-Person
Venue: James Hope Business School - Twin Lakes Estate, Lekki Lagos.
Certificate: James Hope Business School course completion certificate will be issued to participants.

Fees

On-Campus: T.B.A

Open Admissions

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Recommended Text

Besley, S., & Brigham, E. F. (2021). Principles of Finance. Cengage Learning.
Brigham, E. F., & Ehrhardt, M. C. (2021). Financial Management: Theory & Practice. Cengage Learning.
Brigham, E. F., Houston, J. F., & Dabney, P. (2021). Fundamentals of Financial Management. Cengage Learning.
Brooks, R. M. (2020). Financial Management: Core Concepts. Pearson.
Titman, S., Keown, A. J., & Martin, J. D. (2021). Financial Management: Principles and Applications. Pearson.

Journal Articles

Beck, T., & Webb, I. (2020). Financial Literacy and Financial Services Use in Ghana. Journal of African Economies, 29(1), 26-51.
Lang, H., & Mertins, V. (2017). The Impact of Financial Literacy on Investment Decisions: Evidence from Germany. Journal of Banking and Finance, 80, 220-242.
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44.
Rezende, M., Cortez, D., & Silva, L. A. (2019). Financial Education and Investment Decisions: Evidence from Brazil. International Review of Financial Analysis, 65, 101366.
Wheeler, T., & Oliver, L. R. (2018). Financial Literacy and Investment Decisions of College Students. Journal of Financial Counseling and Planning, 29(1), 21-32.

Additional Resources

Financial calculators and tools for the time value of money calculations.

Financial news sources and reports for current financial information.

Access to financial software or spreadsheets for budgeting and financial analysis exercises.

Assessment Methods

Quizzes and assignments assessing understanding of financial concepts.

Case studies and group projects applying financial principles to real-world scenarios.

Final exam or assessment evaluating overall comprehension and practical application.

Course Description

This course introduces non-finance professionals to essential financial principles and tools to help them make informed financial decisions in both personal and organizational settings. Participants will learn how to interpret financial statements, manage budgets, and assess investment opportunities.

This course is designed to provide individuals with a basic understanding of financial concepts and tools, enabling participants to make informed financial decisions within their organizations or personal lives.

Faculty

Faculty Instructor: T.B.A
Industry Partner: T.B.A
Host: Prof. Olu Akinkugbe, Dean of James Hope Business School

Course Outline

Introduction to Financial Management: Overview of financial management, Importance of financial literacy for non-finance professionals, Role of financial managers in organizations.
Understanding Financial Statements: Balance sheets, income statements, and cash flow statements, Key financial ratios and their interpretation, Reading financial reports for decision-making.
Budgeting and Financial Planning: Budgeting as a financial planning tool, Developing and managing budgets, Variance analysis and budget control.
Time Value of Money: Introduction to time value of money (TVM), Calculating present value and future value, Applying TVM to investment decisions.
Capital Budgeting and Investment Analysis: Methods for evaluating investment projects – Net present value (NPV), internal rate of return (IRR), and payback period, Risk assessment in investment decisions.
Managing Working Capital: The importance of working capital, Managing accounts receivable, accounts payable, and inventory, Cash flow management.
Financing and Debt Management: Sources of business financing, Types of debt and equity financing, Debt management strategies.
Financial Risk Management: Identifying financial risk, Strategies for mitigating financial risks, Role of insurance and derivatives.
Personal Financial Management: Personal financial planning and goal setting, Budgeting for individuals, – Investment options and retirement planning.
Ethics in Financial Management: Ethical considerations in Financial Decision-making, Corporate social responsibility (CSR), Ethical investing.
Financial Reporting and Communication: Effective financial communication, presenting financial information to stakeholders, Interpreting financial reports and conveying insights
Financial Management in Practice: Case studies and real-world applications, Guest speakers from financial management roles.

Who should attend this course?

The course on “Financial Management for Non-Finance Experts” is designed to cater to a broad audience, as financial literacy is valuable in both personal and professional contexts.

Managers and Executives Non-finance professionals in managerial and leadership roles, Entrepreneurs and Small Business Owners, Department Heads such as marketing, operations, and human resources, Project managers who need to create and manage budgets, assess project profitability, Non-profit Organization Leaders, Human Resources Professionals: HR professionals who want to understand compensation, benefits, and budgeting, Sales and Marketing Professionals interested in the financial implications of marketing campaigns, pricing strategies, and sales targets, Individuals looking to transition into finance-related roles or enhance their employability. Individuals who want to improve their financial management skills, including budgeting, investing, and retirement planning. Public sector and non-profit employees who need to manage public funds responsibly and transparently. Individuals nearing retirement or in retirement who want to manage their savings and investments effectively.

This course is intentionally designed for participants from diverse backgrounds and industries, as financial literacy is a valuable skill that can enhance decision-making, foster financial responsibility, and contribute to the overall success of individuals and organizations alike.

What are the benefits of taking this course?

Participants who take a course on “Financial Management for Non-Finance Experts” can expect to gain a wide range of benefits, as they acquire essential financial literacy and management skills. Here are some of the key benefits that participants can expect to receive from taking this course:

A solid understanding of fundamental financial concepts, enabling them to read and interpret financial statements, reports, and budgets with confidence.
A better grasp of financial principles will enhance participants’ ability to make informed and strategic decisions related to their organizations or personal finances.
Participants will be able to create, manage, and monitor budgets effectively, helping organizations control costs and individuals achieve their financial goals.
Understanding the time value of money and investment evaluation methods can empower participants to make informed investment decisions for their organizations or personal portfolios.
Participants will acquire skills in identifying, assessing, and mitigating financial risks, contributing to better risk management practices.
Improved financial communication skills enable participants to convey financial information clearly to colleagues, stakeholders, and decision-makers.
The course can enhance career prospects for participants, as financial literacy is a valuable skill in many professional roles and industries.
Business owners and entrepreneurs can use their newfound financial knowledge to manage their businesses more effectively, leading to better financial performance.
Personal Financial Management: Participants will be better equipped to manage their personal finances, including budgeting, saving, investing, and retirement planning.
Ethical Considerations: Understanding financial ethics and corporate responsibility enables participants to make ethical financial decisions in their organizations.
Collaboration and Teamwork: Cross-functional teams can benefit from aligning their financial understanding, promoting better collaboration and decision-making.
Increased Confidence: Financial knowledge can boost participants’ confidence when dealing with financial matters, both at work and in their personal lives.
Long-Term Financial Security: Individuals nearing retirement or in retirement can use the skills gained to manage their savings and investments for long-term financial security.
Entrepreneurial Opportunities: Individuals with entrepreneurial aspirations can use their financial management skills to identify and evaluate business opportunities.
Better Public Financial Stewardship: Government and non-profit employees can use their financial knowledge to ensure responsible and transparent handling of public funds.

Taking a course in financial management equips participants with practical skills and knowledge that can lead to improved financial well-being, career advancement, and the ability to contribute effectively to their organizations or personal financial goals.