Many non-financial personnel find finance is mystical and somehow cannot comprehend financial information.
The 8 parts of the presentation are designed to help the non-financial personnel to look at finance from their own view point. Instead of learn finance from finance perspective, we learn our own perspective.
This is because your goal is to improve your current work not to become a qualified accountant. Crash courses usually can’t provide sufficient knowledge for you to understand finance.
Designed from business’s viewpoint, different from other approaches found in the market. Hopefully, we can equip non-financial personnel with business driven financial knowledge.
By end of the 8 presentation:
1. You can create your value to increase financial value
2. You can interpret financial reports to make decisions
3. You know how to work on budget
4.You can propose your ideas in terms of dollars & cents
5. You produce the financial numbers that your boss likes
6. You can communicate well with finance department
7. You make collaboration with accountant possible instead of just for the sake of formality
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Finance for non financial personnel - part 7
1. Finance For Non-Financial Personnel Part 7
Business Driven Finance Insights For Laymen
Valuables Take Away
2. £ ¥ € ₳ ₨$
The Structure of Finance
For Non-Financial Personnel
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8 presentations altogether, if you cannot find all the links, kindly email care@3cthinktank.com to request
Part 5
Part 6
Part 7
Part 8
Accounting systems - the systems are not that simple after
all and how your own system integrates to them. Accounting
systems are not IT systems!
Estimation - any activity (you name it) involves estimation,
how can you estimate better? Budget/ Forecast/ Plan.
How the financial data so important to you? Lean & agile.
Valuables take-away - how to work on numbers that
please your boss? What numbers must you always look
at? The hidden financial formula a boss must have.
Decision making - interpret financial information, perform
critical ratios analysis, read different reports, and use
reports for specific needs. Use management accounting
information for your own management needs.
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VALUABLE take-
away
“know how your
actions affect the
financial numbers”
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You don’t beg
your boss to
climb to the top
You PLEASE HIM!
5. £ ¥ € ₳ ₨$
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You need to understand your
BOSS in order to PLEASE HIM!
How to understand your boss?
1. Obtain skills to read his mind
or
2. List typical needs of a boss
note: please email to care@3cthinktank.com for detail of the above 2
methods.
6. £ ¥ € ₳ ₨$
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One point in the “A List of
Boss's Typical Needs”
I know what
financial
numbers
will make
the boss
happy And I will act accordingly to
affect those financial numbers
7. £ ¥ € ₳ ₨$
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Finance Success Formula
This should be what a boss is looking for in the financial information?
(Free cash flow - capital charge)/ Capital
Employed = Economic Value Added
Find hard to
comprehend?
8. £ ¥ € ₳ ₨$
educational: free distribution
Finance Success Formula
This should be what a boss is looking for in the financial information?
(Free cash flow - capital charge)/ Capital
Employed = Economic Value Added
Find hard to
comprehend?
Why not
focus on one
first?
9. £ ¥ € ₳ ₨$
educational: free distribution
Finance Success Formula
This should be what a boss is looking for in the financial information?
(Free cash flow - capital charge)/ Capital
Employed = Economic Value Added
Find hard to
comprehend?
Why not
focus on one
first?
How can
we track
this
everyday?
10. £ ¥ € ₳ ₨$
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Financial
information a boss
need to know to
make DECISION
Sales &
profit
made by
per worker
each day
net cash
generated
from per
worker
each day
net cash
generated
at the
company
level each
day Free cash
flow
against
ROCE
each day
Compare
with
target
each day
Where
the
workers
is the key
driver
11. £ ¥ € ₳ ₨$
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A Simple Approach Is To Know How You Contribute Today?
In this way, you know how to adjust your activities daily.
How Are You Related?
How your
activities
lead to
sales or
profit?
How
that
lead to
cash
flow?
Can you
trace to
free
cash
flow?
Can you
trace to
cash
conversion?
Profit ≠ Cash
12. £ ¥ € ₳ ₨$
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From The Boss’s View Point
Therefore, financial numbers one
of the critical factors to appraise
performance. If an employee is
able to make positive
contribution to the financial
numbers daily, his performance
is obvious and easy to evaluate!
In S/T, some non-financial information may impress the boss.
However in L/T, financial information affects the boss decision
- because it is the most completed business information.
Boss without good financial knowledge may under/ over rely on financial numbers to make wrong decisions.
13. £ ¥ € ₳ ₨$
● You know how to “Please” and “Not Plead” Boss
● You know the importance to update financial numbers on
a daily basis to ensure timely monitoring
● You know how each activity makes contribution daily
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Are You On Track?
Look For Next Presentation:
Finance For Non-Financial
Personnel - Part 8
14. £ ¥ € ₳ ₨$
educational: free distribution
care@3cthinktank.com
3CTT is a management consultant who advise and run projects for holistic business solutions,
usually end-to-end, to improve business and make achievements. They cover all business
functions with unique IT enhancements to increase companies’ competitive advantages,
maximizing revenue, liquidity, & profit while designing highly effective organization.
We had been recognised by many as Trusted Advisor, Growth Driver, Turnaround Expert,
Exceptional Motivator, Strategist, Business Designer, and Dynamic Change Agent
For more information: www.3cthinktank.com
8 presentations altogether, if you cannot find all the links, kindly email care@3cthinktank.com to request
All the 8 presentations are the overview, PLEASE
email us if you like to get more benefits from them.