Finance for the Non-finance Executive
Boosting accounting and financial skills
Managers in multifaceted organizations are seldom encouraged to consider their value-chain position or the value created by all the players involved. Indeed, many executives are not confident in their knowledge of the underlying principles and practical applications of basic investment appraisal techniques.
This innovative, action-oriented, hands-on program is designed for non-financial managers who wish to learn how accounting and financial processes work, and how to interpret the powerful messages that can emerge from the numbers. The program focuses on identifying and removing financial management roadblocks and helps establish a sustainable program of financial discipline and awareness.
Past Participants' Level of Responsibility
Selection of countries 2003-2012
Australia, Austria, Bulgaria, Croatia, Czech Republic, Denmark, France, Germany, Greece, Hungary, Italy, Jordan, Korea, Netherlands, New Zealand, Poland, Portugal, Republic of China, Romania, Singapore, Slovakia, Spain, Sweden, Switzerland, Turkey, UK, and USA.
- Developing awareness of external financial markets and their effects on management decisions
- Explaining relationships between revenue and costs and asset management; how Return On Capital Employed (ROCE) is built from these two components, and how profit differs from cash
- Forensic analysis of cash-flow statements to predict financial stress
- Understanding the basic valuation framework surrounding investment decisions; measuring consequences of time adjustment, amounts of relevant cash flow, and risks
- Introducing new techniques in cost measurement, such as activity-based costing and value-chain analysis; discussing the relevance of these tools
- Effective cooperation with internal and external financial specialists
Take-Home ValueParticipants will gain a deeper understanding of profit and loss account, balance sheet, and cash-flow statement operations, and learn to identify relevant costs and revenues.
At ESMT, one of the most valuable learning opportunities is derived from the diversity of the professionals taking part in a program. Each class is made up of men and women from a variety of companies and industries, benefiting both benchmarking and learning.
Meet the Faculty
Jörg Rocholl (Program Director)
Jörg Rocholl has been the president of ESMT since July 2011. He joined ESMT in July of 2007 as an associate professor. In July 2010 he was promoted to full professor and awarded the first Ernst & Young Chair in Governance and Compliance. In September 2010 he was named as the associate dean of faculty and in April 2011, dean of faculty. Jörg holds both his PhD in Finance and Economics and his MPhil from Columbia Business School and received his “Diplom-Ökonom mit Auszeichnung” (Economics degree with distinction) from the Universität Witten/Herdecke in Germany.
Niall Lothian is a Professor for Accounting and Control at the Edinburgh Business School, Heriot-Watt University, a member of the international visiting faculty of INSEAD, Fontainebleau, and a former president of the Institute of Chartered Accountants of Scotland. Professor Lothian' research and consulting interests lie in both financial reporting and managerial accounting and control.