Overview

Financial Professionals and challenged in the presentation of financial information to non-financial professionals. Financial professionals have the knowledge. Non-financial professionals need the information in forms they can understand. Financial professionals must keep it simple. Customers are not accountants.  It helps to relate financial information to personal information to enhance understanding.  Also helps to use visual aids such as Dashboards. The overall essence to this topic is to provide financial information to non-financial professionals in ways and manners they can understand to allow them to use the information in the management and control of resources.  The requirements of non-financial professions are unique. Hence the financial information provided them must also be unique to their needs.

Why you should Attend

Financial transactions of a business are transformed through an accounting process to three key and required financial statements, they are:

• Balance Sheet which shows what the company owns minus what it owes and the resulting financial strength of the company
• Income Statement which indicates the comparison of revenue earned from providing goods and services less the costs or expenses used to provide the goods and services.  This resulting comparison is called profit or surplus
• Cash Flow Statement which indicates the company’s sources and uses of funds

The ability to understand and analyze financial statements is key and relevant to making sound business decisions.  One essential key is the understanding of the different terms, tools and techniques used in the process of preparing these statements.  Non-financial professionals find this a conflicting challenge and need a simple framework for understanding & analyzing these statements.

You should attend to understand:

• The Essence of Effective Communication
• Financial Reporting vs. Financial Information
• Meeting Your Customer Needs for Financial Information
• How to Effectively Communicate Financial Information
• Financial Professionals are in the customer service business
  

Areas Covered in the Session

• The basic framework used in the preparation of financial statements
• The basic components of each statement and their use in business decisions and resource management
• Simple understanding of finance & accounting
• Simple understanding of:
  • Cash vs. accrual basis accounting
  • Accounting concepts and building blocks
  • Core components of financial statements
  • Analyzing financial statements as the language of business
• Simple financial statement terminology
• Simple signs of business financial healthy
• Financial statement red flags, cautions, and concerns
• Relevant ratios to improve profits and productivity with attendee exercises and engagement
• Essence of ratios, trends, comparisons, and cash in all business analysis and decisions
• Review of five essential categories of ratios to measure impact of:
  • Profitability
  • Efficiency
  • Liquidity
  • Solvency
  • Cash
• Essential essence and utilization of:
  • Working Capital
  • Cash Management
  • Free Cash Flow

Overall you will learn in simple to understand and apply tools and techniques how to understand and analyze financial

• statements.  I guarantee it!
• You should attend to understand:
• The Essence of Effective Communication
  • Learn to master soft communication skills
  • Learn essential presentation skills
  • Learn both what and how to keep financial information simple
  • Key element & helpful hints of financial communications
• Financial Reporting vs. Financial Information
  • External Reporting Requirements
  • Internal Information
    • Designed specifically for Stakeholder
    • Different for each Stakeholder
    • Communicating Understanding
    • Converting knowledge to information
    • Structuring general ledger to provide required data
• Meeting Your Customer Needs for Financial Information
  • Comparisons to Plan
  • Summaries
  • Dashboards
  • Key Business Indicators
  • Key Business Drivers
  • Trends
• How to Effectively Communicate Financial Information
  • Select relevant highlights
  • Design Dashboards
  • Create Customer Focused Information
  • Prepare presentation protocol to Stakeholders
  • Learn presentation skills
• Financial Professionals are in the customer service business
  • Adopt a customer service attitude
  • Focus on internal customer requirements
  • Know how your company makes shoes
  • Understand the uniqueness of each customer
  • Consider on demand capabilities
• Maximize use technology in a paperless environment

Who Will Benefit

• All Financial Stakeholders with the requirement to present financial information to non-financial stakeholders