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Finance for non-financials

The art of making good decisions based on numbers

How important is financial information to any manager in making the decision? What is the role of budget budgets and budget activity? What is P&L cash flow, profit and loss account? What are the costs and their importance in the decision-making process? How do we interpret financial analysis indicators?

Although the economic and financial reports provided by the company’s economic departments are important tools for the decision-making system and the management of a company, it is sometimes difficult for a non-financier to use them effectively. Some managers may consider that financial information is only a company’s obligation in relation to state tax institutions.

Our course aims to help you understand the notions in the financial reports, to use them effectively in decision making.

Who is it for?

The course is especially targeted at managers, executives who require a general understanding of financial management issues.

Course objectives

  • Understanding of the basic principles and customary terms used in the financial statements
  • The evaluation and use of the financial information submitted
  • Awareness of financial information in decision-making
  • Understanding the different types of costs, how they influence the decision-making process
  • Raising awareness of the role of budgets and budgetary activity
  • Description of the main tools and methods for assessing the efficiency of profit centers

The course modules

  • General financial accounting concepts
  • Use of financial reports
  • Their costs and importance for the decision-making process
  • Budget as a planning and control tool
  • Cash-flow – understanding and management
  • Understanding the profit and loss account (P&L)
  • Assessment of investment projects
  • Evaluation of financial results
  • Performance indicators (profitability, liquidity, investment valuation and financing)
  • Profit vs. cash flow

Marcel Chișcan

Managing Partner Ascent Group

His 30-year professional experience combines a wide range of fields of activity, from local public administration to sales and advertising, manufacturing or logistics and transport. Over the years Marcel has been in management positions for both SME's and local public administration, industrial projects or in the management of logistics and transport companies, as well as in the board of public or private companies.

Over the last 15 years its managerial and entrepreneurial experience has been enriched by numerous consultancy projects for start-ups and for business development/restructuring, combining the assistance with training activities, in particular on the topics such as Leadership and management, Corporate Entrepreneurship, Strategic planning and strategic thinking, Negotiation skills, Sales techniques and Customer care, Communication skills or Time Management.

Renata Ban

Financial Manager Ascent Group

At the professional level Renata has 20 years of experience in accounting finance, in the financial departments of local or multinational companies (Arconta, Porta Doors, Magontec, Takata, Leoni) and in financial and accounting consultancy with Ascent Group. All these years she has been involved in numerous consultancy projects, both for local and multinational companies, in various fields of activity: automotive, manufacturing, it, agriculture, trade, services.

Since 2012 Renata becomes Senior Partner in Ascent Finance, a company specialized in financial and accounting services within the Ascent Group. Over the last years, thanks to her consistent professional knowledge combined with very good communication skills, Renata has also become a very good trainer on financial issues, mainly in training programs of Finance for Non-financials, efficient use of Ciel accounting program, personalized consultancy, etc.