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Finance for Non-Financial Managers in Hospitality

‘Finance for Non-Financial Managers’ aims to reduce skills gaps relating to commercial know-how. Our one day course will increase the commercial awareness of non-financial managers and improve understanding and interpretation of budgets and reports that all departments deal with on a regular basis.

The objective of the course is to develop commercial awareness and to facilitate delegates’ understanding of the key financial competences required to manage a business successfully, such as forecasting and cost control.

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Course Details

Structured into three main topic areas, the course includes:

Introduction to the P & L account:

  • The basic principles
  • Explanation of financial terminology
  • Business controls to manage revenue and cost
  • How to trade and make a profit
  • Calculation and interpretation of business figures
  • Brief overview of the difference between CAPEX and operational spend

Introduction to the Balance Sheet:

  • Long term vs. short term assets
  • Working capital
  • Profit measurement in relation to investment

Introduction to the Cash flow:

  • Planning for cash requirements
  • Controlling cash and other current assets
  • Working capital controls
  • Simple KPI’s to measure performance

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The Outcome

On completion of the course, delegates will be issued with a certificate of attendance. They will also be equipped with skills to be able to:

  • Think, talk and act more commercially aware within the workplace
  • Understand and interpret financial reports
  • Calculate and analyse key financial figures
  • Develop action plans based on financial performance

Course Delivery

‘Finance for Non-Financial Managers’ is a highly interactive course, written by Debra Adams, author of the highly acclaimed textbook 'Management Accounting for the Hospitality Industry'. Debra is the Head Trainer for arena4finance, she has a background in Catering Management and is a qualified accountant. Debra has been delivering courses in food cost control and related topics for over 25 years.

This is a one day course, delivered through workshops, case studies and discussion. Delegates are encouraged to bring examples of their own internal reports. The course content can be adapted to suit the needs of your individual organisation, using internal reports and accounts for discussion and analysis.

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