Finance for Non-Financials

The art of making good decisions based on numbers

How important is financial input for a manager in the decision-making process? What are the budget role and budgeting activity? What does cash flow represent, or the profit and loss account P&L? What does cost represent and how important are all these in a decision making process? How do we interpret the financial analysis indicators?

Even though economic-financial reports furnished by economic departments are considered to be important tools for decision making and company’s management, for a non-financial it is hard to efficiently use, if basic principles and common economic terms are unfamiliar. It is possible for managers to think that financial information is just a company obligation when it comes to relating with the state fiscal institutions.

Our training course has set the goal of helping you to understand notions from financial reports, and to use them correctly in making a decision.

Target

This training course is particularly addressed to managers and chief executives who need a general understanding of the financial management issues.

Objectives

  • Understanding the basic principles and customary terms used in financial statements
  • Assessing and using financial information
  • Being aware of the financial information when making decisions
  • Understanding different types of costs and the way these influence the process of decision-making
  • Being aware of the budget role and budgeting activity
  • Describing main tools and assessment modalities of profit centers efficiency

Main topics

  • Financial accounting general notions
  • Using financial reports
  • Costs and their importance in the decision making process
  • Budget – a planning and controlling tool
  • Cash-flow – understanding and management
  • Understanding of the profit and loss account (P&L)
  • Assessment of investment projects
  • Assessment of financial results
  • Performance indicators (profit, cash, investment and financing assessment)
  • 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.