Useful Financial Tools for Nonfinancial Managers

There are several financial tools that can help you be an effective and efficient manager. Learn how you can use these tools to your advantage and increase your value to your company. You do not have to be a financial expert, since this workshop introduces each tool and provides hands-on examples of their effective use. Whether you are managing day to day operations or planning for growth or new product lines, these tools will be invaluable to the decision making process. Finally, you will leave with a ‘tool kit’ loaded with templates and information so when you are ready to use one of the tools, you just simply load up the template and go!

Who Should Attend

All managers with responsibility for staffing, projects, departments, cost centers, groups, divisions or companies.

Upon Completion of the Program, Participants will be Able to:

• Work effectively with the company’s strategic plan

• Comprehend virtually all aspects to include in a budget

• Utilize the financial statements to identify problems and monitor activity

• Determine the feasibility of adding new products or the purchase of new equipment

• Identify the number of units to sell in order to cover fixed costs

• Use comparative analysis and benchmarking to measure success

Select from These Key Topics to Create Your Own Unique Program:

Strategic Planning – understand the purpose of the strategic plan and how you “fit in”. Learn the typical components of the strategic planning model.

Budgets – identify simple techniques to budgeting including a checklist of items that should be included for a complete budget.

Financial Statements – learn quick ways to spot areas needing further review or attention. See how ‘logic’ plays when reviewing budget to actual variances.

Feasibility Analysis – the best way to justify an investment is to determine its financial feasibility. Easy steps including a template ‘tool’ to take home.

Breakeven Analysis – another technique to justify an investment is to determine how long it will take to pay for that investment and when you can anticipate positive results. Once again learn some easy steps and take a template ‘tool’ with you when you leave.

Comparative/Ratio Analysis – certain expenses are dependent on revenues and other expenses. Learn some of these typical relationships and easy ways to identify variances that are normal versus those that require your further review. Learn to use ‘trend analysis’ for budgeting and forecasting.

Profitability Analysis – understand the concept of profitability, what it includes and how it is calculated. This will help you work more effectively with the accounting department.

Benchmarking – learn ways to validate the results of your area of responsibility by comparing those results to your competition or another department in your company.

Quality programs – offered on-site and adapted for your company. Contact Jim Hoffman at 214.763.9644 or via email at jhoffman@pdi.org. Visit us online at www.pdi.org