All board members - both executive and non-executive - need a robust understanding of the key financial concepts and corporate reporting requirements in order to discharge their fiduciary duties as directors. A consistent foundation in financial literacy is key to enabling the Board to make better decisions, prioritise issues, and maximise opportunities.
The drive for greater diversity of thought in the boardroom has rightly encouraged organisations to take on NEDs from a wide range of backgrounds, but whilst business acumen may be sound, knowledge of financial matters can be less well defined.
NEDs enhance their ability to ask the right questions, challenge, scrutinise, and evaluate plans or proposals when they have a strong grasp of financial terminology and techniques.
This course is designed to equip board members, business leaders, and senior professionals who have little or no formal finance training with the essential skills and knowledge needed to interpret and challenge board-relevant financial information.
The sessions are highly interactive, drawing on the lived experiences of all delegates. Multiple case studies will be used to bring the content to life, and to help attendees to understand the real-world applications.
Participants can expect a challenging, yet highly rewarding programme.
The course covers:
Financial reporting and management accounting
- Fundamental financial concepts and terminology
- External financial reporting – the Income Statement, Balance Sheet, Cash Flow Statement, Strategic Report, and Directors’ Report
- Budgets, forecasts, what-if scenarios, and sensitivity analysis
Financial Management
- Sources of finance
- Solvency, liquidity and going concern
- Analysing and interpreting financial statements and reports
- Valuation techniques
- Strategic financial management
Governance and Finance
- The Board’s financial responsibilities
- Stakeholder expectations and shareholder value
- Internal Audit, External Audit and the Audit Committee
- Current issues
CPD hours:
ICAEW's revised Continuing Professional Development (CPD) Regulations bring in new CPD requirements. This includes a minimum number of hours and an ethics requirement. Attending this course could contribute up to 6 hours of verifiable CPD, providing you can demonstrate that the content is relevant to your role.A copy of the course booking confirmation email is accepted as evidence of verifiable CPD.
Feedback from previous Finance for Non-Finance Directors participants:
“Excellent course. I have completed 2 other similar courses that didn't go into enough depth”.
“This was exactly the level of detail I required to feel confident as a Board member questioning accounts”.
“The course content exceeded my expectations”.
“Good exercises and interaction”.
“As a result of the course I feel much more confident about this area than before”.