What is this course about?

This course transforms financial and accounting language and concepts into decision-making tools the non-financial manager can use successfully within their organisation. It has become essential for managers at all levels to possess a working knowledge of financial principles, especially budgeting concepts, in order to effectively communicate with members of the financial staff and executives. This intensive, three-day workshop course is designed to provide you with the knowledge required to obtain a thorough understanding of accounting terminology as it relates to the structure and workings of financial statements, enabling you to call upon a range of techniques to assess and control the day-to-day activities of budgeting, profit and cash flow.

What background do I need?

No formal training in finance or budgeting is required. This course is valuable for those from both the private and public sectors who wish to develop a financial toolkit to complement their existing professional or technical skills.

Who will benefit from this course?

This course benefits team leaders, project managers, programme managers, department heads and those with any level of financial responsibility within an organisation. Staff members looking to broaden their financial and budgeting knowledge also find this course very beneficial.

I'm new at my management job. Should I wait until I acquire more experience before I take this course?

Definitely not! Taking this course early in your career, even if you have no prior knowledge of finance, enables you to avoid many potential mistakes and miscommunications. The knowledge acquired in this course will provide you with the skills required to engage in a productive dialogue with those personnel involved in budgetary and other financial decisions.

How much of this course is devoted to "number crunching"?

This is not a "numbers" course, per se. There is a small amount of basic arithmetic using the 4-function calculator supplied in the classroom. The primary objective of this course is to provide an understanding of the concepts and vocabulary used in the financial decision-making and control process.

How much does this course emphasise budgeting concepts?

The ability to manage a budget is critical to a project and department's success. This course places a strong emphasis on providing non-financial managers with a fundamentally solid understanding of the role of budgeting in today's business environment. From the politics of getting a budget approved to the most effective methods to manage within budget constraints, you will learn the importance of looking at a budget as more than just numbers. Then, you will explore the various types of budgets and the intricacies of using a budget as a planning and control tool.

I work for the government. Does your course deal with government accounting?

This course points out the fundamental similarities and differences between public and private sector accounting so that practitioners in each sector can communicate within their organisational structure. While the focus is on private sector finance, the concepts learned in this course are, for the most part, applicable in any environment.

How much time is spent on each topic?

How much time in this course is devoted to workshops?

Approximately 30 percent of course time is spent on workshops. This course analyses financial statements from actual companies to illustrate economic concepts. Workshops include:

• Analysing and creating profit and loss accounts, balance sheets and cash flow statements
• Establishing and managing realistic operating budgets
• Selecting the most profitable projects or activities
• Calculating a budget to achieve stated financial goals
• Applying financial principles to real-world situations

Is this course applicable toward a Project Management Institute (PMI) certification?

Yes. Though this course is not designed as preparation for an exam, it is beneficial to anyone working toward, or maintaining, a PMI certification. Most PMI certifications require a specific number of PDUs in order to obtain and maintain the credential. Completion of this course provides 17 professional development units (PDUs).

Learning Tree offers several courses that help you prepare for PMI certifications, including Course 276, Preparing for the Project Management Professional (PMP)^® Exam, which prepares you for PMI's most popular certification. For more details on these courses and PMI certifications, please see the Learning Tree PMI Registered Education Provider Q&A.

How does this course relate to other Learning Tree courses?

• 212, Building an Effective Business Caseoffers the skills to analyse, create and communicate a successful business case to meet your organization's unique needs
• 296, Project Management: Skills for Successprovides new and experienced managers with the practical skills needed to lead effective project teams
• 340, Project Management for Software Development focuses on the unique aspects of software development projects
• 287, Complex Project Managementprovides experience with using automated tools to plan and control your project as you deal with the realities of project uncertainties and change
• 286, Project Risk Managementteaches you to proactively develop risk-reduction strategies to dramatically increase your chances of successful project completion
• 299, Microsoft® Project 2007: A Comprehensive Hands-On Introductionprovides experience using Microsoft Project 2003 to plan project tasks, activities and make use of resources
• 290, Management Skillsprovides new and experienced managers with the practical skills needed to lead effective teams of technical professionals
• 297, Personal Skills for Professional Excellenceenhances your ability to handle the demands you face in a technical environment
• 294, Influence Skills: Getting Results without Direct Authorityfocuses on the specific behaviours and attitudes that enable you to achieve desired results without relying on the use of authority
• 247, MBA Essentials: Enhancing Organisational Performanceoffers the skills you need to evaluate organisational information and address business situations based on proven methods and techniques
• 3310, Applying Strategic Thinking to Operational Management

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