Fundamentals of Finance for Non-Finance Backgrounds
Scale up from beginner to financially savvy with essential business skills in financial reporting and statements with INCEIF.
Duration
4 weeksWeekly study
3 hours100% online
How it works
Fundamentals of Finance for Non-Finance Backgrounds
Master essential financial concepts without a finance background
In today’s business landscape, financial acumen is essential for those at management roles, though not everyone needs a finance background to land these positions.
On this four-week course from the INCEIF University, you’ll gain a solid understanding of financial principles to excel as a manager in any industry.
By mastering these critical financial skills, you’ll position yourself as a versatile manager, capable of making informed decisions and contributing effectively to strategic initiatives.
Grasp accounting principles and financial reporting
Begin this course by learning the basics behind one of business’s most crucial arms: accounting and finance.
You’ll be introduced to the core principles of financial accounting, gaining a clear understanding of how financial statements are prepared and what they reveal about an organisation’s financial health.
Understanding the presentation of financial statements that adhere to reporting standards
You’ll learn step-by-step the structure of Statements of Financial Position, Income Statements, and Cash Flow Statements.
Beyond the technical aspects of preparing these statements, you’ll also learn how these documents interrelate to provide a comprehensive view of an organisation’s financial affairs.
This knowledge will equip you with the skills to effectively interpret and analyse financial statements, enabling you to perform insightful financial analysis that drives informed economic decision-making. A more comprehensive version can be delivered through webinar training upon request.
Syllabus
Week 1
Fundamentals of Accounting and Financial Reporting
What is Accounting?
Accounting is the process of recording, summarizing, and reporting financial transactions to provide insights into a company's financial health and support accurate financial reporting and decision-making.
Financial Statements
Financial statements, including the statement of financial position also known as balance sheet, income statement, cash flow statements and statement of changes in equity provide insides of financial affairs of an institution.
Who Uses Accounting Information?
Identifying who uses accounting information is key to understanding its role, as it aids various stakeholders in making informed decisions and evaluating financial performance.
Summary
Summary and reflection for Week 1
Week 2
Overview of Financial Reporting
Accounting Conceptual Framework
The Accounting Conceptual Framework establishes the foundational concepts, objectives, and definitions for developing accounting standards and ensuring consistency in financial statement preparation and presentation.
Scenario 1
The scenario discusses your company's assets and liabilities and how previous assets were financed.
Accounting Equations
"Accounting Equations" form the foundation of financial accounting, representing the relationship between a company's assets, liabilities, and equity.
Week 3
Sequence of Preparation of Financial Statements and Their Relationship
Steps to Prepare a Financial Statement
This section explains a simple, step-by-step guide to help managers and non-finance professionals create accurate financial statements for effective business decision-making.
Statement of Financial Position
The "Statement of Financial Position," or balance sheet, provides a snapshot of a company's assets, liabilities, and equity at a specific point in time.
Statement of Comprehensive Income
The "Statement of Comprehensive Income" details a company’s financial performance over a period, showing revenues, expenses, gains, and losses.
Statement of Changes in Equity
The "Statement of Changes in Equity" tracks the variations in a company’s equity over a specific period.
Statement of Cash Flows
The "Statement of Cash Flows" outlines a company’s cash inflows and outflows over a period, categorized into operating, investing, and financing activities.
Week 4
Presentation of Statement of Financial Position, Income Statement and Cash Flow Statement
Accounting Assumptions, Principles and Concepts
Foundations of accounting: assumptions, principles, and key concepts.
Financial Reporting Environment
The accounting process did not exist in isolation without the various regulatory bodies and governmental bodies. we will discuss six reporting parties.
What's Next?
Congratulations, you have completed the 4-week lessons. Next, to obtain the certificate of completion, you are required to take the course assessment. Details of the course assessment are provided on the next page.
When would you like to start?
Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.
Available now
Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Interpret financial statements to assess the financial health and performance of an organization.
- Apply financial evaluation techniques to assess investment projects and make informed decisions regarding capital allocation.
- Create, monitor, and manage budgets effectively to support organizational goals and objectives.
- Investigate the role of financial markets in investment decision-making and portfolio management.
- Develop strategies to mitigate risks effectively, ensuring financial sustainability and success.
Who is the course for?
Designed for professionals without finance backgrounds, this course equips you with essential finance skills to enhance your leadership and decision-making. No prior knowledge is required; everything you need to know will be covered in the course itself.
Who will you learn with?
Who developed the course?
INCEIF
INCEIF is considered to be the knowledge leader in Islamic finance through providing excellent teaching, research and thought leadership.
Ways to learn | Buy this course | Subscribe & save | Start learning today |
|---|---|---|---|
| Choose the best way to learn for you! | $109/one-off payment | $244.99 for a whole year Automatically renews | Free |
| Fulfill your current learning need | Develop skills to further your career | Try this course - with limits | |
| Access to this course | tick | tick | Limited to 4 weeks |
| Access to 1,000+ courses | cross | tick | cross |
| Learn at your own pace | tick | tick | cross |
| Discuss your learning in comments | tick | tick | tick |
| Tests to check your learning | tick | tick | cross |
| Certificate when you're eligible | Printed and digital | Digital only | cross |
Cancel for free anytime |
Ways to learn
Choose the best way to learn for you!
Subscribe & save
$244.99 for a whole year
Automatically renews
Develop skills to further your career
- Access to this course
- Access to 1,000+ courses
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Digital certificate when you're eligible
Cancel for free anytime
Buy this course
$109/one-off payment
Fulfill your current learning need
- Access to this course
- Learn at your own pace
- Discuss your learning in comments
- Tests to boost your learning
- Printed and digital certificate when you’re eligible
Start learning today
Free
Try this course - with limits
- Limited to 4 weeks
Find out more about certificates, Unlimited or buying a course (Upgrades) Sale price available until 2 June 2025 at 23:59 (UTC). T&Cs apply. | |||
Find out more about certificates, Unlimited or buying a course (Upgrades)
Sale price available until 2 June 2025 at 23:59 (UTC). T&Cs apply.
Learning on FutureLearn
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- Experience the power of social learning, and get inspired by an international network of learners
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Map your progress
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- Complete 90% of course steps and all of the assessments to earn your certificate
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