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An Online Course: Finance for Non-Finance Professionals

Background of the Course

Finance is an essential component of any business and finance professionals are usually high in demand. Finance and management in general are the core and the backbone of every organization. The organization can be big, medium, or small, but finance is involved anyway. At home and in your everyday life, you have to deal with different monetary issues be it when it comes to back transactions or buying something from a shop, finance plays a vital role.

With an understanding, the concepts and principles of accounting and finance, you can make more informed decisions, contribute to strategic conversations, build, and run a business. Finance knowledge is important for anyone who is in business or who wants to pursue a career in business. Emerging financial education is critical for everyone working in fast-growing and ever-changing business environments. It becomes even more important for financial professionals who need certain skills to succeed in a career.

Course facilitated by Mr.Vickrant Gurung, Corporate Trainer

This 5 -days online course on ‘Finance for Non-Finance Professionals´ was designed for those participants who want to build some concepts about finance and accounting. This course was not intended to produce expert accountants or finance managers but it guided professionals having a less strong background in finance and accounting to grasp the information provided by financial and accounting statements and evaluate the performance of their organization, project, or department. Upon completion of the course, the participants were able to apply the concepts of finance and accounting to better understand and control the finance and accounts of their organization, project, or department. The course had few case studies to provide more practical exposure to the subject matter and open a new pathway for career progressions for professionals such as engineers, development specialists, and other professionals who can go on to be project or department or organization leaders.

The course provided basic information about the application of Finance knowledge in practical life. The session started with a general introduction of the speaker and all the participants were asked to introduce themselves one by one. Everyone had their own expectations regarding the course, which were shared on the first day of the course.

The five days course was divided into different segments. The first day of the course began with the discussion about the Economics Concept of Resource, Scarcity, Money, and Value Addition which is very crucial in Finance activities. A brief description was provided on different Finance Terminologies and the participants were asked to define Organizations and their characteristics. As the participants were from Non-Finance background, they were informed about the Finance and Accounting and their Difference. 

The participants also learned to prepare Profit and Loss and Balance Sheets with samples provided. It was very interactive as they were solving mathematical calculations with the Finance formulas and sharing the answer. It was more like a basic Finance idea but it helped participants to understand and interpret the balance sheet of their companies. They also learned about the Concept of Ratio Analysis and using financial statements as a control tool. In addition to this, they learned about Liquidity ratios. He defined it as the financial ratios that measure a company’s ability to repay both short- and long-term obligations. Common liquidity ratios include the current ratio that measures a company’s ability to pay off short-term liabilities with current assets. The acid-test ratio measures a company’s ability to pay off short-term liabilities with quick assets; the cash ratio measures a company’s ability to pay off short-term liabilities with cash and cash equivalents. They also learned about ways to calculate Leverage Financial ratio, Efficiency ratios, Profitability ratios, and Market value ratios as part of financial knowledge. He provided case studies to all the participants as a part of the assessment.

 

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Glocal After School

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