Finance for Non-financial Managers

Oil & Gas Finance for Non-Financial Managers Workshop

The course uses lecture format with interaction, group work and case studies. Participants will have different expertise in the oil and gas industry and wish to understand more about finance.

By attending this course you will:

* Strengthen your financial skills and comprehension of concepts such as the business financial cycle, CAPEX, OPEX and Financial Key Performance Indicators
* Engage in comprehensive financial analysis based on a leading oil company’,s accounts
* Learn key key strategies in corporate planning and budgeting
* Participate in an intensive case stuffy on the application of capital investment appraisal
* Assess market driven approaches to cost control

To discuss, understand and practice some of the financial skills needed by all managers and specifically budget-holders, to operate in today’s working environment.

An understanding of finance is the key to unlocking organisational performance. On this participative, case-study-driven course, you will learn the language of accounting and finance, and how to read an organisation’s financial statements. You will be shown the limitations of financial statements and be given the tools to analyse cost behaviour and financial performance. You will learn the value of management accounting information and will be able to participate in creating a financial plan for the organisation.
No prior exposure to accounting or finance is necessary

Programme benefits
Participants will leave with:

An understanding of the language of finance and, as a consequence, the ability to engage with financial professionals and appreciate their points of view
An ability to examine the financial health of an organisation, identify problems and inefficiencies and have an appreciation of how their resolution will improve financial performance
An insight into the drivers and measurement of costs
An understanding of key measures of financial performance, including ROE, ROA and EVA
The ability to construct a financial plan and establish its financial feasibility
The course is very participative, and is based on real-world case studies. Delegates come from a wide variety of backgrounds. You will work on the cases in small, diverse groups, thus bringing your experience and insights to the learning process and in return you will gain the background and confidence needed to make a valuable contribution to the running of a business.

The purpose of this course is to give managers an appreciation of the differences between Financial Accounting, Management Accounting and Financial Management.

It aims to introduce managers to modern financial tools that are available to help them understand and manage their businesses better. The course underlines the importance of understanding value measurement, so that key value drivers can be identified and managed.

Every effort is made to apply the tools to current developments in the business world in order to underline the practical application of these tools.

Each participant will receive a copy of "Simply Finance" by Susan Hansen, Bateman 2008.

Topics Covered
While every organisation has to subscribe to the Financial Accounting model it is rarely, if ever, a good model to make business decisions from. Simply, the information comes too late and it is limited by certain concepts which will be highlighted.
However, as this is the model that is so often used to evaluate business performance it will be discussed in detail so that we can understand how to overcome the limitations.
Participants will at the conclusion of the first day have a framework which can be applied to analyse and interpret any set of financial accounting statements. How we evaluate the performance of companies listed on the Share Market and the most common tools used to identify ‘value�will be discussed.
We will also understand why ‘Cash is King�and interpret some commonly used words and acronyms, e.g. EBITDA, ROCE, CFROI, etc

While Financial Accounting is compulsory, Management Accounting is not. However, organisations with excellent Management Information Systems have a significant competitive advantage. A key part of understanding a company’s ‘bottom line�is to analyse it from a customer perspective. Customer profitability analysis is an extremely useful tool to add value to an organisation without necessarily cutting costs.

Cutting costs is often a knee jerk reaction when a company comes under pressure. It is seldom sustainable and has the potential to erode the human capital and other intangibles in an organisation. Putting a measurement system in place so these intangibles can be managed is an essential part of modern financial management.

Strategic Management Accounting is an evolving discipline that links accounting to the strategy development process in organisations. For example many organisations have realigned their strategy to address responsible businesses practices. Corporate Social Responsibility was once thought to give an organisation a competitive advantage. Today it is considered a competitive necessity. For example, charitable donations written off as an expense in the Statement of Financial Performance may in fact be a key value driver. The course will examine how Value Drivers are identified and what benefits they deliver.

Perhaps the biggest mistake that an established business can make is paying too much for an acquisition, or selling part of the business for too little.
The course will discuss the most commonly applied valuation tools.

Finally, we will look at the most widely used tools to appraise the Investment decision. Discounted Cash Flow (DCF) Analysis that works out the Net Present Value of an Investment (NPV) is an essential tool for managers to appreciate. It is now the most common valuation tool to value an entire enterprise. How we forecast cash flows and measure the required rate of return (cost of Capital, WACC, IRR) will all be discussed.

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