Finance for the Non-Finance Major: Learn the Basics in Just a Few Weeks

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A business cannot sustain itself long without having a disciplined financial system in place. And it is also necessary that the individual departments contribute to the profit of the company. This puts emphasis on the ability of managers to understand the financial implications of their decisions. If you lack basic financial knowledge as a manager in a business, this could mean the end of the road for you. Joining a short-term finance course may be the right thing to do to get over this shortcoming. 

As a non-finance manager, you are not expected to get involved or grow expertise in things like maintaining financial records, GST and TDS compliance, budgeting, planning, and other specialist activities in finance. 

But acquiring basic know-how of accounting, financial statements, etc. can surely help you to comprehend the company’s financial situation, profitability, and liquidity and take more informed decisions. And who can deny that right decision-making in business operations is a distinguishable ability and makes the case for career advancement?  

Taking a short-term finance course  can be of immense help to you. These courses at   offers a specially designed online course for non-finance executives to acquire the functional knowledge on the financial matters required in a business environment.

What is business finance?  

The condition of a company is defined by the health of its finances. The successful running of every firm is controlled by the four Ms – Men, Material, Machinery, and Manager – all brought together with the most crucial “M”, money. The reason for the bad performance or good performance of any business lies in effective money management. 

Here are six principal areas in a business, which highlight the significance of finance in today’s competitive business environment: 

  • Buying assets: Business financing assists business owners in purchasing important assets such as equipment, furniture, real estate, and so on.
  • Supporting growth: Business expansion is dependent on the extension of existing lines of business, which can be accomplished by introducing new items, which necessitates significant investments and business funding.
  • Meeting daily expenses: A business’s everyday activities include procuring raw materials, paying taxes, rentals, salaries, bills, and so on. Meeting these operational expenses is made easier with adequate business funding.
  • Implementing technology: A company’s success is heavily reliant on how rapidly it adapts to technological advances. Business finance allows for the investment of new technologies, which increases ROI and reduces manual errors.
  • Hiring talent: While technology and digital transformation boost business results, human capital remains crucial to the success of any organisation. Hiring the ideal people necessitates market research and substantial expenditures, which can be funded by business financing.
  • Meeting contingencies: Businesses must be prepared for unexpected events that can disrupt operations, such as a lack of cash, a fire, or a strike. Proper business funding aids in navigating these difficulties.

So, what precisely is finance for non-finance executives?

Financial data can be used to make decisions, motivate employees, and develop a futuristic attitude. Non-finance employees may be required to perform some of the following financial activities:

  • Interpretation of financial statements, such as balance sheets, income statements, and cash flow statements.
  • Understanding and operating (if required) the accounting package, standardized in the company.
  • Understand the significance of working capital and cash flow in the firm.
  • Making provision for cash and managing working capital
  • Making price choices
  • Calculating project returns
  • Use the information in financial statements to take an independent decision or to go with management’s direction.
  • Determine the financial viability of a project or company, for example, by reviewing basic financial measures.
  • Compile monthly budgets in accordance with operating strategies.
  • Participate in the preparation of financial planning and the financial management of their team/department/unit.
  • Make sound investment judgments.

Why is finance education important for non-finance jobs?

Young professionals without much experience might increase their job prospects by showing a good understanding of finance and business basics. Since finance is always the most important factor in any business, it is more likely in non-finance fields where, even though it is not expected, a candidate with financial knowledge is chosen above others.

The ability to grasp finance is seen as a valuable additional quality for a candidate seeking a managerial position. It enables managers with strong financial skills to better comprehend the influence of their team on the whole firm and make informed business decisions. Any action in a company is validated by its likely impact on the financial statements.

What do online financial courses teach you?

Online financial courses offer a wealth of knowledge and practical skills that empower individuals to make informed decisions about their personal and professional finances. These courses cover a wide range of topics, equipping learners with valuable insights and expertise. Here are some key areas that online financial courses typically cover:

  1. Personal Finance Management: Learn how to budget effectively, manage debt, and plan for major life expenses such as education, homeownership, and retirement.
  2. Investment Strategies: Understand various investment options, from stocks and bonds to mutual funds and real estate. Courses teach how to create diversified portfolios and make strategic investment decisions.
  3. Financial Markets: Gain insights into the functioning of global financial markets, including concepts like stock exchanges, commodities, foreign exchange, and derivatives.
  4. Taxation and Legalities: Learn about tax planning, filing, and optimization strategies, as well as legal aspects related to finance and estate planning.
  5. Risk Management: Understand how to assess and mitigate financial risks, including insurance coverage, emergency funds, and hedging strategies.
  6. Business Finance: Explore the financial aspects of business, including financial statements analysis, budgeting, cash flow management, and business valuation.
  7. Entrepreneurial Finance: Learn how to secure funding for startups, manage finances in a business environment, and navigate challenges unique to entrepreneurial ventures.
  8. Financial Analysis: Develop skills to interpret financial statements, analyze company performance, and make informed investment or lending decisions.
  9. Economic Principles: Understand macroeconomic and microeconomic concepts that impact personal and business finances, such as inflation, interest rates, and market trends.
  10. Behavioral Finance: Explore the psychological factors influencing financial decision-making and learn strategies to avoid common biases and pitfalls.

Online financial courses often offer a combination of video lectures, interactive quizzes, case studies, and real-world examples. They cater to individuals at various skill levels, from beginners looking to build a strong financial foundation to professionals seeking to enhance their expertise. By completing these courses, learners gain the knowledge and confidence to manage their finances effectively and navigate the complex world of finance with greater ease.