Training & Education
Corporate, Professional & Government
Accounting & Finance - Financial Acumen
What is Financial Acumen?
Financial acumen is an understanding of what the financial data means and how to act on it. To go beyond running your business on instinct and intuition, it is essential to understand how ‘the numbers’ drive your organisation. Financial acumen training assists employees in making better decisions which increases efficiency and effectiveness of operations and in turn improves the organisation’s performance.
Who should attend our workshop?
Our financial acumen training is targeted at anyone who does not have a financial background but whose actions and decisions directly affect the financial health of the organisation.
What are the benefits of Financial Acumen training?
Financial acumen training provides employees with the ability to analyse and interpret financial information.
The direct benefit of financial acumen is that it turns financial information into knowledge about an organisation’s operations in terms of:
- Assessing and improving performance;
- Reducing or managing costs;
- Determining the margins and prices for goods and services; and
- Improving decision making.
The strategic benefits of developing financial acumen include:
- Empowering staff to take on more authority and responsibility for their decisions;
- Demonstrating how employees actions have a direct effect on achieving organisational goals;
- Improved involvement and support of budgeting processes; and
- Appreciating the importance of setting performance targets and accountability.
Key learning areas of the Financial Acumen workshop
The workshop focuses on real life examples such as:
- Understanding what accountants do – and how they can support you in your role;
- How to interpret and use financial reports (budgets, income statement, balance sheet and cash flows);
- Apply benchmarking to improve performance and control costs;
- Exploring the concepts of customer and shareholder value and how this affects decision making in terms of pricing, quality and timeliness; and
- Evaluating project performance and capital expenditure decisions.
Duration of workshop
Workshops are tailored to the level of detail required and are either ½ day, full day or 2 days.
In-house workshops specifically tailored to your business are also available. These are provided as one-off events, or can form part of a mentoring and development program over a 6 or 12 month period.
Contact us for more information about our flexible and competitive pricing structure.