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Finance for non financial personnel - part 2

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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

Published in: Business
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Finance for non financial personnel - part 2

  1. 1. Finance For Non-Financial Personnel Part 2 Business Driven Finance Insights For Laymen Misconceptions About Accounting
  2. 2. £ ¥ € ₳ ₨$ The Structure of Finance For Non-Financial Personnel educational: free distribution Part 1 Part 2 Part 3 Part 4 Introduction and explain the importance of learning business driven finance Misconceptions - to describe the common misread of the laymen about the accounting department and it practise. Fundamentals of financial knowledge-set your perspective. Records - understand the principles that used in recording transactions & how your activities related to them. Very important but have been ignore by many. Reports- learn evaluate financial information, perform critical ratios analysis, and read different reports. From your perspective, how to use the reports in the best way. 8 presentations altogether, if you cannot find all the links, kindly email care@3cthinktank.com to request
  3. 3. £ ¥ € ₳ ₨$ Misconceptions About Accounting educational: free distribution
  4. 4. £ ¥ € ₳ ₨$ Misconception 1 The facts is accounting treatment is rigid due to stringent accounting principles Accountants’ behaviours restricted especially by the external rules educational: free distribution “ Accountants are rigid”
  5. 5. £ ¥ € ₳ ₨$ Try to understand the accountants need to comply to the rules & standards set externally. I know the system doesn’t allow ... Can help me without breaking the law? educational: free distribution Misconception 1 The facts is accounting treatment is rigid due to stringent accounting principles “ Accountants are rigid” Accountants’ behaviours restricted especially by the external rules
  6. 6. £ ¥ € ₳ ₨$ Misconception 2 The prudent concept not the accountant governs how we treat transactions and present information. Prudence is adopted as people like to avoid unpresent surprises educational: free distribution “ Accountants are prudent”
  7. 7. £ ¥ € ₳ ₨$ Prudence is adopted as people like to avoid unpresent surprises Input, process, & report - key process Prudence is the virtue in reporting educational: free distribution “ Accountants are prudent” Misconception 2 The prudent concept not the accountant governs how we treat transactions and present information.
  8. 8. £ ¥ € ₳ ₨$ Misconception 3 You need a math whiz to be an accountant. NOT REALLY - usually he just add or subtract numbers Most calculations done by accounting system and calculator educational: free distribution “Math Whiz = Accountant”
  9. 9. £ ¥ € ₳ ₨$ Misconception 3 You need a math whiz to be an accountant. NOT REALLY - usually he just add or subtract numbers Most calculations done by accounting software and calculator We also Produce Report Control Analyse Consulting Communicate educational: free distribution “Math Whiz = Accountant”
  10. 10. £ ¥ € ₳ ₨$ Misconception 4 Accountants don’t solve money troubles. You do the forecast with his advice on financial technical issue. You know how to find money, your accountant can advise you on the behaviour of the money! educational: free distribution “Accountant = Money Solver” Accountant?
  11. 11. £ ¥ € ₳ ₨$ Misconception 4 Accountants don’t solve money troubles. You do the forecast with his advice on financial technical issue. You know how to find money, your accountant can advise you on the behaviour of the money! Great Sales! What cause sales slow down? Most of the time, money trouble is sales trouble … there are exceptions though... Not interested educational: free distribution “Accountant = Money Solver”
  12. 12. £ ¥ € ₳ ₨$ Misconception 5 Not just recording & reporting the financial numbers! Let him join in strategic planning process. He is extremely useful when he gets involve early! Charge! Accountant educational: free distribution “Accountant = Bookkeeper”
  13. 13. £ ¥ € ₳ ₨$ Charge! Boss, ROI too low, still want to charge? Marketing & investing are critical activities. Don’t exclude the accountant! Accountant educational: free distribution Misconception 5 Not just recording & reporting the financial numbers! Let him join in strategic planning process. “Accountant = Bookkeeper” He is extremely useful when he gets involve early!
  14. 14. £ ¥ € ₳ ₨$ ● Remove the common misconceptions ● Different perception on the accountants & their functions ● Change the way you work with them educational: free distribution Are You On Track? Look For Next Presentation: Finance For Non-Financial Personnel - Part 3
  15. 15. £ ¥ € ₳ ₨$ 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.

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