Apr 092021
 
Finance for Non-Finance Directors – Interactive Video Course Friday 26 February 2021

As a director how comfortable are you with company finance?

financial-documents1000

Are you confident in your ability to understand the three core elements of Management Accounts:

  • Cash Flow?
  • Profit and Loss (or Income and Expenditure)?
  • Balance Sheet?

Do you understand Forecast/Budget, Actuals and Variance reports?

Do you know how to use Key Ratios to evaluate your company's performance?

Do you know if you are trading whilst insolvent?

This half-day course will provide the essential knowledge of those key financial issues and concepts that are needed by successful Executive and Non-Executive Directors in order to discharge their duties and responsibilities as a company director. The completion of this course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial skills.

Who should attend?

Executive and Non-Executive Directors, senior executives or aspiring directors looking to understand more about company finance.

Course Content

  • The Three Key Financial Statements
    • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
    • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
    • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Revenue and Capital Expenditure
    • What are Capital and Revenue Expenditure
    • Phasing of capital spend and its Implications for budget holders
  • Depreciation; Assets and liabilities
    • What is Depreciation?
    • The Different types and uses
  • Forecasts and Budgets
    • The purpose of forecasts for the business
    • Budget objectives
    • Budgetary Control as a management tool
    • Variance analysis
  • Using Ratios to Support Investment Decisions
    • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
    • Investment decisions and Return on Investment (ROI); Cost of capital
    • Gearing, is the level of borrowing too risky?
    • Liquidity, could the company hit cash flow problems?
    • Profitability, how well is the company doing?

Learning Objectives

This half-day course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.

By the end of this training course participants will be better able to:

  • Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
  • Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
  • Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
  • Understand the key differences between statutory published accounts and the internal monthly management accounts
  • Identify and discuss the key financial issues facing an organisation
  • Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
  • Understand the basics of budgets and the implementation of budgeting processes
  • Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
  • Communicate more effectively and easily with Finance Directors, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.

Course Leader:
David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here:

Key Details

Duration: 1/2 day
10:00 - 15:00
Location:
Zoom Video Conference

Price
£250.00 (ex VAT)
Payment with Booking Price £220.00 (ex
VAT)
Partner Discount Price £195.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration

The fee includes a copy of the course handbook

Attendance counts as 4 verifiable CPD hours of structured learning which count towards the requirements of most business focussed institutes, including the Institute of Directors, the Institute of Consulting, the Chartered Management Institute, the Institute of Chartered Accountants of England and Wales, the Chartered Institute of Personnel and Development and many others.  After successful completion of the course, you will receive an electronic Certificate confirming that you have successfully completed the course, detailing the outcomes and results.

*Discounts on Excellencia course fees are available for:

 

Feb 022021
 
Finance for Non-Finance Directors – Interactive Video Course Friday 26 February 2021

As a director how comfortable are you with company finance?

financial-documents1000

Are you confident in your ability to understand the three core elements of Management Accounts:

  • Cash Flow?
  • Profit and Loss (or Income and Expenditure)?
  • Balance Sheet?

Do you understand Forecast/Budget, Actuals and Variance reports?

Do you know how to use Key Ratios to evaluate your company's performance?

Do you know if you are trading whilst insolvent?

This half-day course will provide the essential knowledge of those key financial issues and concepts that are needed by successful Executive and Non-Executive Directors in order to discharge their duties and responsibilities as a company director. The completion of this course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial skills.

Who should attend?

Executive and Non-Executive Directors, senior executives or aspiring directors looking to understand more about company finance.

Course Content

  • The Three Key Financial Statements
    • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
    • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
    • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Revenue and Capital Expenditure
    • What are Capital and Revenue Expenditure
    • Phasing of capital spend and its Implications for budget holders
  • Depreciation; Assets and liabilities
    • What is Depreciation?
    • The Different types and uses
  • Forecasts and Budgets
    • The purpose of forecasts for the business
    • Budget objectives
    • Budgetary Control as a management tool
    • Variance analysis
  • Using Ratios to Support Investment Decisions
    • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
    • Investment decisions and Return on Investment (ROI); Cost of capital
    • Gearing, is the level of borrowing too risky?
    • Liquidity, could the company hit cash flow problems?
    • Profitability, how well is the company doing?

Learning Objectives

This half-day course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.

By the end of this training course participants will be better able to:

  • Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
  • Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
  • Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
  • Understand the key differences between statutory published accounts and the internal monthly management accounts
  • Identify and discuss the key financial issues facing an organisation
  • Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
  • Understand the basics of budgets and the implementation of budgeting processes
  • Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
  • Communicate more effectively and easily with Finance Directors, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.

Course Leader:
David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here:

Key Details

Duration: 1/2 day
10:00 - 15:00
Location:
Zoom Video Conference

Price
£250.00 (ex VAT)
Payment with Booking Price £220.00 (ex
VAT)
Partner Discount Price £195.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration

The fee includes refreshments and a copy of the course handbook

Attendance counts as 4 verifiable CPD hours of structured learning which count towards the requirements of most business focussed institutes, including the Institute of Directors, the Institute of Consulting, the Chartered Management Institute, the Institute of Chartered Accountants of England and Wales, the Chartered Institute of Personnel and Development and many others.  After successful completion of the course, you will receive an electronic Certificate confirming that you have successfully completed the course, detailing the outcomes and results.

*Discounts on Excellencia course fees are available for:

 

Nov 032020
 

As a director how comfortable are you with company finance?

financial-documents1000

Are you confident in your ability to understand the three core elements of Management Accounts:

  • Cash Flow?
  • Profit and Loss (or Income and Expenditure)?
  • Balance Sheet?

Do you understand Forecast/Budget, Actuals and Variance reports?

Do you know how to use Key Ratios to evaluate your company's performance?

Do you know if you are trading whilst insolvent?

This half-day course will provide the essential knowledge of those key financial issues and concepts that are needed by successful Executive and Non-Executive Directors in order to discharge their duties and responsibilities as a company director. The completion of this course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial skills.

Who should attend?

Executive and Non-Executive Directors, senior executives or aspiring directors looking to understand more about company finance.

Course Content

  • The Three Key Financial Statements
    • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
    • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
    • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Revenue and Capital Expenditure
    • What are Capital and Revenue Expenditure
    • Phasing of capital spend and its Implications for budget holders
  • Depreciation; Assets and liabilities
    • What is Depreciation?
    • The Different types and uses
  • Forecasts and Budgets
    • The purpose of forecasts for the business
    • Budget objectives
    • Budgetary Control as a management tool
    • Variance analysis
  • Using Ratios to Support Investment Decisions
    • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
    • Investment decisions and Return on Investment (ROI); Cost of capital
    • Gearing, is the level of borrowing too risky?
    • Liquidity, could the company hit cash flow problems?
    • Profitability, how well is the company doing?

Learning Objectives

This half-day course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.

By the end of this training course participants will be better able to:

  • Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
  • Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
  • Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
  • Understand the key differences between statutory published accounts and the internal monthly management accounts
  • Identify and discuss the key financial issues facing an organisation
  • Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
  • Understand the basics of budgets and the implementation of budgeting processes
  • Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
  • Communicate more effectively and easily with Finance Directors, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.

Course Leader:
David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here:

Key Details

Duration: 1/2 day
10:00 - 15:00
Location:
Zoom Video Conference

Price
£250.00 (ex VAT)
Payment with Booking Price £220.00 (ex
VAT)
Partner Discount Price £195.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration

The fee includes refreshments and a copy of the course handbook

Attendance counts as 4 verifiable CPD hours of structured learning which count towards the requirements of most business focussed institutes, including the Institute of Directors, the Institute of Consulting, the Chartered Management Institute, the Institute of Chartered Accountants of England and Wales, the Chartered Institute of Personnel and Development and many others.  After successful completion of the course, you will receive an electronic Certificate confirming that you have successfully completed the course, detailing the outcomes and results.

*Discounts on Excellencia course fees are available for:

 

Aug 212020
 

As a director how comfortable are you with company finance?

financial-documents1000

Are you confident in your ability to understand the three core elements of Management Accounts:

  • Cash Flow?
  • Profit and Loss (or Income and Expenditure)?
  • Balance Sheet?

Do you understand Forecast/Budget, Actuals and Variance reports?

Do you know how to use Key Ratios to evaluate your company's performance?

Do you know if you are trading whilst insolvent?

This half-day course will provide the essential knowledge of those key financial issues and concepts that are needed by successful Executive and Non-Executive Directors in order to discharge their duties and responsibilities as a company director. The completion of this course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial skills.

Who should attend?

Executive and Non-Executive Directors, senior executives or aspiring directors looking to understand more about company finance.

Course Content

  • The Three Key Financial Statements
    • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
    • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
    • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Revenue and Capital Expenditure
    • What are Capital and Revenue Expenditure
    • Phasing of capital spend and its Implications for budget holders
  • Depreciation; Assets and liabilities
    • What is Depreciation?
    • The Different types and uses
  • Forecasts and Budgets
    • The purpose of forecasts for the business
    • Budget objectives
    • Budgetary Control as a management tool
    • Variance analysis
  • Using Ratios to Support Investment Decisions
    • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
    • Investment decisions and Return on Investment (ROI); Cost of capital
    • Gearing, is the level of borrowing too risky?
    • Liquidity, could the company hit cash flow problems?
    • Profitability, how well is the company doing?

Learning Objectives

This half-day course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.

By the end of this training course participants will be better able to:

  • Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
  • Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
  • Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
  • Understand the key differences between statutory published accounts and the internal monthly management accounts
  • Identify and discuss the key financial issues facing an organisation
  • Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
  • Understand the basics of budgets and the implementation of budgeting processes
  • Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
  • Communicate more effectively and easily with Finance Directors, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.

Course Leader:
David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here:

Key Details

Duration: 1/2 day
10:00 - 15:00
Location:
Zoom Video Conference

Price
£250.00 (ex VAT)
Payment with Booking Price £220.00 (ex
VAT)
Partner Discount Price £195.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration

The fee includes refreshments and a copy of the course handbook

Attendance counts as 4 verifiable CPD hours of structured learning which count towards the requirements of most business focussed institutes, including the Institute of Directors, the Institute of Consulting, the Chartered Management Institute, the Institute of Chartered Accountants of England and Wales, the Chartered Institute of Personnel and Development and many others.  After successful completion of the course, you will receive an electronic Certificate confirming that you have successfully completed the course, detailing the outcomes and results.

*Discounts on Excellencia course fees are available for:

Jun 262020
 

As a director how comfortable are you with company finance?

financial-documents1000

Are you confident in your ability to understand the three core elements of Management Accounts:

  • Cash Flow?
  • Profit and Loss (or Income and Expenditure)?
  • Balance Sheet?

Do you understand Forecast/Budget, Actuals and Variance reports?

Do you know how to use Key Ratios to evaluate your company's performance?

Do you know if you are trading whilst insolvent?

This half-day course will provide the essential knowledge of those key financial issues and concepts that are needed by successful Executive and Non-Executive Directors in order to discharge their duties and responsibilities as a company director. The completion of this course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial skills.

Who should attend?

Executive and Non-Executive Directors, senior executives or aspiring directors looking to understand more about company finance.

Course Content

  • The Three Key Financial Statements
    • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
    • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
    • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Revenue and Capital Expenditure
    • What are Capital and Revenue Expenditure
    • Phasing of capital spend and its Implications for budget holders
  • Depreciation; Assets and liabilities
    • What is Depreciation?
    • The Different types and uses
  • Forecasts and Budgets
    • The purpose of forecasts for the business
    • Budget objectives
    • Budgetary Control as a management tool
    • Variance analysis
  • Using Ratios to Support Investment Decisions
    • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
    • Investment decisions and Return on Investment (ROI); Cost of capital
    • Gearing, is the level of borrowing too risky?
    • Liquidity, could the company hit cash flow problems?
    • Profitability, how well is the company doing?

Learning Objectives

This half-day course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.

By the end of this training course participants will be better able to:

  • Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
  • Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
  • Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
  • Understand the key differences between statutory published accounts and the internal monthly management accounts
  • Identify and discuss the key financial issues facing an organisation
  • Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
  • Understand the basics of budgets and the implementation of budgeting processes
  • Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
  • Communicate more effectively and easily with Finance Directors, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.

Course Leader:
David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here:

Key Details

Duration: 1/2 day
10:00 - 15:00
Location:
Zoom Video Conference

Price
£250.00 (ex VAT)
Payment with Booking Price £220.00 (ex
VAT)
Partner Discount Price £195.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration

The fee includes refreshments and a copy of the course handbook

Attendance counts as 4 verifiable CPD hours of structured learning which count towards the requirements of most business focussed institutes, including the Institute of Directors, the Institute of Consulting, the Chartered Management Institute, the Institute of Chartered Accountants of England and Wales, the Chartered Institute of Personnel and Development and many others.  After successful completion of the course, you will receive an electronic Certificate confirming that you have successfully completed the course, detailing the outcomes and results.

*Discounts on Excellencia course fees are available for:

Aug 222018
 

Case study - Tension between Chairman and Chief Executive - NEDworks LinkedIn Group Discussion

The NEDworks LinkedIn group is currently featuring the following Case Study (anonymised but based on a real-life situation)

NED Case Study

You are a non-executive director on the board of a listed company in the financial services sector. 3 years ago the Chairman and non-executive directors had been instrumental in removing the Chief Executive, a colourful, charismatic, character with a big reputation, as he had been unable to revive the company’s fortunes and had lost the confidence of both the shareholders and the regulator.

His replacement, an internal candidate, was seen as a safe pair of hands to steady the ship and implement the strategy which had been agreed by the board, to clean up the company’s operations, to the satisfaction of the regulator, and improve performance to satisfy the restless shareholders.

Unfortunately the new Chief Executive has not managed to make as much progress as either the regulator or shareholders would have wanted. The board has recently appointed a new Chairman who is keen to get the company back on track and there is clearly some tension between him and the Chief Executive.

As a non-executive director, how can you act to help resolve this situation? What is your role and what options should the board explore?

Julie Garland McLellan - Boardroom Expert First step is to look at the role of the board in setting targets and monitoring performance for both the CEOs. It would appear that they haven't been tremendously effective with the safe pair of hands or with the colourful and charismatic CEO. Is there a problem with the way the board sets expectations and commits to a strategic course of action? If the problem is in the boardroom it needs fixing before any new recruit is brought in.
Next step is to review the business and business model. Is the business meeting the current needs of its customers? Is it using the appropriate technology? Does it have the appropriate products and services? How are commissions calculated and paid? What is the culture? This should give some clues about what the new (or current) CEO should focus on to make a change that drives improvements.
Then recruit the CEO you need for the actions you have to take.
Final step is to monitor and guide the CEO so that actions are taken as expected and plans changed to suite

David Doughty Julie - I agree with everything you say but I would be tempted to start even further back with a refresh of the Vision Mission and Values as, in my experience, many business plans and strategies evolve organically and become detached from a coherent Vision.

As you say, it is impossible for the CEOs to succeed without clear expectations and it is the role of the NEDs to support the Chair to produce a clear strategy and objectives in line with the Vision, Mission and Values, which the CEO can then be tasked with delivering.

CEOs are often blamed for the failure of the business when it is more likely that it is a failure of the Board to provide clear direction

 

Terry Bowman There are surely 2 points here and at least 1 reflects badly on the established NEDs.

The issues with the regulator need to be examined by the Board to identify what they say about the strategy and delivery by the executives. The Board would seem to have been asleep at the wheel if the problems remain after 3 years. It may be that the problems with the regulator are adversely affecting market performance and, again, the Board is culpable for not getting to grips with this problem.

Overall a root and branch review of the business and its senior team would seem to be in order for the Board

 

David Doughty Terry - yes the NEDs should have been closely monitoring the relationship with the regulator looking to make improvements - as you say they seem to have been asleep at the wheel and it is time for them to wake up before they can think about making any senior appointments

 

 

 

Neil Britten David - a thought provoking case. Many valuable points already made here. As a NED I would be interested to know what the regulators perspective is - if I don't already. If there is a SID on the board I would expect him/her to be on top of this. Second I would like to know what the tension between Chair and CEO is being caused by. I would speak to the Chair about this obviously. Possibly the CEO too.
It is not so clear to me that the Board has been asleep - within the 3 year period both CEO and Chair have changed. Perhaps both changes have been prompted by the Board. Maybe initially the results from the new CEO looked encouraging.
Clearly it is time for the Board to be focusing on reaffirming the purpose of the enterprise, as David suggests, and revisiting the strategy to provide the clear direction sought.
Fundamentally the Board cannot function effectively without an effective relationship between Chair and CEO. I would like to understand the problem there first.

David Doughty Thanks Neil for making some good points. Clearly this has been an unsettling time for the business so in addition to all the actions that have been suggested by contributors to this discussion the NEDs also have a role to try to minimise the disruption caused by changes to CEO and Chair https://www.linkedin.com/pulse/what-should-neds-do-when-ceo-leaves-board-david-doughty

 

 

 

Peter Curnow-Ford MIoD Interesting is that its the shareholders and the regulator that are raising the issues and not the Board. I think the Board should reflect on its own performance and only then look to seek what happens next - why are we here, what is the objective and the strategy to enable the 'why' and then if needed update the board itself and then the CEO if needed - it maybe that a refreshed board is all that's needed as it better supports the existing CEO

 

 

David Doughty Peter - I think it has certainly been the case in sectors such as Banking that the board members have been the last people to question their own performance - more often than not it is the shareholders, regulators and analysts who are asking the right questions

 

 

 

 

You can join in the discussion on LinkedIn at https://www.linkedin.com/groups/87547/

Jun 062017
 

Institute of Directors commissioned report highlighted value Non-Executive Directors bring to family businesses

In 2015, then Ulster University post-graduate Caoimhe McGuinness explored the role of Non-Executive Directors (NEDs) in SMEs in Northern Ireland in a report commissioned by the Institute of Directors.

Interviews were conducted with executives and non-executives on company Boards including family businesses, and every Director interviewed felt the NED contribution undoubtedly added value to the firm, with most believing the NED role helped improve profitability.

The key differentiator between a family business and other private sector companies tends to be the breadth of experience round the Boardroom table. A family firm often grows organically and family members who join may not have benefited from working in another company or from specific training in running a business. While this isn’t of itself a handicap to business success, it can result in a narrower view, which could limit growth potential.

And that’s exactly where an independent, NED can add value to a family business.

Strategy

Strategy formulation was considered one of the most important roles a NED plays. Directors often get caught up in the day to day management of the company so an independent outsider with time to devote to developing a strategic plan can be extremely valuable.

A NED can act as mentor providing ‘wise counsel’ to the executives, particularly the Managing Director, offering a ‘shoulder to cry on’ and providing advice from someone who understands the business but is not involved in day-to-day operations.

Challenge and credibility

When it comes to Boardroom decision making, sometimes it takes an outsider to challenge the decisions a Board is making, and to question the potential impact on the health of the company. This is why the NED needs to maintain their independence. It is worth noting that the majority of respondents in the IoD research stated that the NEDs had helped them greatly by forcing them to arrive at decisions faster, ‘pushing them over the final hurdle’.

The presence of a respected and competent NED on a Board helps enhance the company’s reputation and credibility; which is particularly beneficial when it comes to sourcing external financing. A competent NED will also keep the Board right on issues of good governance.

Finding your NED

I’ve referred several times to independence and competence. These qualities should be at the forefront of your mind when you are looking for a non-executive director for the family Board. You also need to think about the gaps in the current Board’s experience, knowledge and contacts.

It might be easy just to approach a family friend or your old bank manager, for example, but the choice of a NED should be considered with the company’s strategy in mind. If, say, you’ve never exported and want to grow the business in that way, you’ll want someone with experience of overseas markets. Or if the company has grown quickly but your structure and governance procedures haven’t changed, then a NED who has the IoD’s Chartered Director qualification will have the necessary experience and skills.

IoD Northern Ireland’s NED Register already contains the biographies of over 30 potential NEDs. Everyone included has undertaken training in good governance, many are Chartered Directors or hold the IoD Diploma in Company Direction, and all are committed to continuing professional development. Find out more about the Register at www.iodni.com/the-ned-register IoD can also identify potential NEDs not on the Register if you can’t see anyone with the experience you need.

Aug 232016
 

As a director how comfortable are you with company finance?

financial-documents1000

Are you confident in your ability to understand the three core elements of Management Accounts:

  • Cash Flow?
  • Profit and Loss (or Income and Expenditure)?
  • Balance Sheet?

Do you understand Forecast/Budget, Actuals and Variance reports?

Do you know how to use Key Ratios to evaluate your company's performance?

Do you know if you are trading whilst insolvent?

This half-day course will provide the essential knowledge of those key financial issues and concepts that are needed by successful Executive and Non-Executive Directors in order to discharge their duties and responsibilities as a company director. The completion of this course will provide a good grasp of the key elements of Management Accounts and Statutory Financial Accounts. It will also provide a sound theoretical financial knowledge base upon which to build and acquire new and more advanced financial skills.

Who should attend?

Executive and Non-Executive Directors, senior executives or aspiring directors looking to understand more about company finance.

Course Content

  • The Three Key Financial Statements
    • Cash Flow Statements: Importance of cash flow and Impact of credit and credit control, Problems affecting cash flow, Dealing with Debtors and Creditors
    • Profit & Loss Account, Types of profit, and Layout & use of the profit & loss account
    • Balance Sheets: Assets; Liabilities; Net current assets, capital employed and how to interpret the information;
  • Revenue and Capital Expenditure
    • What are Capital and Revenue Expenditure
    • Phasing of capital spend and its Implications for budget holders
  • Depreciation; Assets and liabilities
    • What is Depreciation?
    • The Different types and uses
  • Forecasts and Budgets
    • The purpose of forecasts for the business
    • Budget objectives
    • Budgetary Control as a management tool
    • Variance analysis
  • Using Ratios to Support Investment Decisions
    • Return on Capital Employed (ROCE); Payback; Internal Rate of Return (IRR); Net Present Value of assets (NPV)
    • Investment decisions and Return on Investment (ROI); Cost of capital
    • Gearing, is the level of borrowing too risky?
    • Liquidity, could the company hit cash flow problems?
    • Profitability, how well is the company doing?

Learning Objectives

This half-day course enables participants to understand better, the key attributes and approaches that underpin a strategic and tactical financial approach to management and help to develop the key skills and styles that will allow participants to be more effective when adopting and applying a decision making approach to management.

By the end of this training course participants will be better able to:

  • Read, analyse and interpret any set of Financial Statements, including the Balance Sheet, the Profit & Loss Account and the Cash Flow statements
  • Understand and quantify the impact of the fundamental accounting concepts and the chosen policies upon any set of accounts
  • Recognise and understand the underlying impact of the generally accepted accounting principles and policies on any Balance Sheet and Profit & Loss Account
  • Understand the key differences between statutory published accounts and the internal monthly management accounts
  • Identify and discuss the key financial issues facing an organisation
  • Understand the wider commercial impact of any business decision and its interaction with non-financial aspects of the organisation, enabling you to make a better contribution to key discussions and decision making amongst managers and within the organisation
  • Understand the basics of budgets and the implementation of budgeting processes
  • Value any business using commonly used and widely accepted valuation techniques such as Net Asset Value, Enterprise Value and EBITDA
  • Communicate more effectively and easily with Finance Directors, and other Finance professionals; through an in depth understanding of financial terminology, management and evaluation techniques.

Course Leader:
David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here:

Key Details

Duration: 1/2 day
13:00 - 16:30
Location:
Orchard Street Business Centre
14 Orchard Street
Bristol BS1 5EH

Price
£170.00 (ex VAT)
Payment with Booking Price £160.00 (ex
VAT)
Partner Discount Price £150.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration

The fee includes refreshments and a copy of the course handbook

Attendance counts as 3 verifiable CPD hours of structured learning which count towards the requirements of most business focussed institutes, including the Institute of Directors, the Institute of Consulting, the Chartered Management Institute, the Institute of Chartered Accountants of England and Wales, the Chartered Institute of Personnel and Development and many others.  After successful completion of the course, you will receive an electronic Certificate confirming that you have successfully completed the course, detailing the outcomes and results.

*Discounts on Excellencia course fees are available for:

Director Essentials

May 142015
 

Going it alone as an Independent Director

GBRThe Great British Workforce Revolution conference is a must-attend event for Independent Directors, value-added Business Angels and cashed-out entrepreneurs who are interested in finding out how to prosper in the ever-evolving Independent Executive recruitment landscape.

GBR banner1
In light of the recent discovery that nearly half of the UK working population are not full-time employees - thus being left almost entirely to find their own work and their own contracts - this Conference aims to understand, explore and seek out the opportunities available to this increasingly popular dynamic of independent working.

The Great British Workforce Revolution conference is the only live event in the UK focused on bringing hundreds of senior level executives together in one day and in one place, alongside the key influencers in the executive recruitment industry. Come along to hear from industry experts, gain educational insight, participate in exciting debates, enjoy quality networking and hear from some excellent keynote speakers.

This year's event will be taking place on 3rd June at Dexter House, No 2 Royal Mint Court, Tower Hill, London, EC3N 4QN.

Take a look around our event website, and please do get in touch if you would like to find out more about the 2015 Workforce Revolution, or visit our registration page to BOOK YOUR TICKET TODAY!

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This year we are offering the option to purchase a 1:1 consultation with a Russam GMS Principal in addition to your ticket. This session may include CV help, career planning, sourcing NED and Trustee work, and/or an introduction to Interim Management work.

£25 of the ticket price for these consultation sessions will be donated to the Multiple Sclerosis Society. This charity directly supports cutting edge research to help find a cure for this terrible disease.

Agenda

The Great British Workforce Revolution - 3rd June, 9.00am-5.00pm

9.00

REGISTRATION, NETWORKING & BREAKFAST

9.30

Introductions from Chair of the Day - MODWENNA REES-MOGG

9.40

Welcome from Headline Sponsor - STEVE GILROY, CEO of Vistage

9.50

Opening Keynote Speaker - ROS ALTMANN

10.05

Special Debate 1: The next 20 years - your time, your opportunity

How are you going to maximise your opportunities in the next two decades?  In this vital debate you will learn from the experts how to make the most money and get the highest levels of satisfaction from your work and why a plural or portfolio career can be the best way to both earn and build wealth.

Panel: Stuart Lucas (Asset Match)

10.55

COFFEE BREAK

11.15

We need you! – 5 minute presentations from SME's looking to hire senior level expertise

11.35

Special engagement session with VISTAGE: From Success to Significance - Practical Steps to Build Your Portfolio Career

With a revolution taking place in the world of work it's critical people know what they want from their next career stage and how to get it. This session will give you some practical advice that can help you on the way to achieving greater career satisfaction - whatever you're looking to do next.

12.25

Special Debate 2: Passport to Export

It's not only British goods that are global brands.  Our senior management skills are too. Never have British interims, consultants and C level directors been more in demand outside the UK, picking up the most lucrative contracts acros the globe.  In this special session led by Jason Atkinson of Russam GMS we will reveal where the most exciting opportunities are to be found and how to win them for yourself.

13.00

LUNCH & NETWORKING

14.10

Introductions from Chair of the Day

14.15

Keynote Speaker

14.35

Special Debate 3: £2,000 Tuesdays; £5,000 Fridays

Experts from the world of investment will explain how to generate an income of between £2,000 and £5,000 a day to replace the money you would otherwise have earned from working

Panel: Camilla Shaughnessy (Eventful Stays), Alex Stephany (JustPark), Mattioli Woods

15.15

Interview

15.35

COFFEE BREAK

15.50

Audience Discussion: What's wrong with my CV?

In the past your cv counted for everything, but in today’s rapidly changing world where references may not be taken up (after all you have been checked out on LinkedIn(!)) this interactive session will discuss how you position yourself so that you can maximise your earning potential through having the right attitude, degree of enthusiasm and level of commitment to your future employer. 

Panel: David Burdon (Simply Clicks)

16.10

Special Debate 4: Board not bored - where the best executive and non executive opportunities will be found for high flyers

Experts from leading head hunters will share with you the tips and techniques you should be using to guarantee yourself a successful board level career. There will be a special focus on issues such as quoted vs unquoted board positions and the role a Charity Trusteeship will play in your portfolio.

Panel: Tom Attenborough (London Stock Exchange), Oliver Woolley (Envestors)

16.50

Special Debate 5:  Cracking Venture Capital

With some of the best opportunities for experienced executives coming from the Venture Capital community, in this debate we will discuss everything from becoming a candidate that VCs or their portfolio companies want to hire, through to how to raise funding for a business you are working in. 

17.30

Closing Keynote Speaker - KRESSE WESLING

17.45

END OF CONFERENCE, START OF DRINKS RECEPTION  

18.00

CLOSE

 

Mar 142014
 

pitching for management

Get involved with an exciting new business at Pitching for Management on Tuesday, 25 March 2014 from 18:00 to 21:30 (GMT)

Nabarro LLP
84 Theobalds Road
WC1X 8RW London
United Kingdom
View Map

Attend Event

ROLES ANNOUNCED

  • The sector we work in is Advertising, more specifically Experiential MarketingWe are looking for someone(s) who can help us grow the business through hands on advice (not a full time requirement) but industry contacts and the opportunity to bring in business is most important.
  • A Company with a new and engaging approach to learning emotional intelligence knowledge and insights using bite sized interactive modules. Each module includes 'mini drama' videos demonstrating how to deal with everyday workplace people challenges. This exciting and fast growing e-learning business are seeking to fill two roles to help them grow the business: 
    1. Marketing Head to develop a marketing plan and help execute it, primarily to:
      • Develop the value proposition for distributors
      • Raise awareness of the business in their market
      • Develop the company proposition for the US
    2. Technical Head/architect to create and build platform to deliver existing and new products.

    Working at their offices in Basingstoke and remotely the package can be a mix of sweat equity, commission and or exit fee.

  • We are creating the first premium brand craft distillery in the heart of Oxford City. The distillery complex will include a bar and restaurant and we will be using a locally grown 2000 year old organic Rye to ferment and distill our alcohol. (Vodka, Gin & Rye Whiskey) This will be a sustainable business and all the spent grain (still full of nutrition) will be picked up by local organic farmers each week to be used as animal feed. They in turn will give us preferential rates and cuts on the meat which will be used in our restaurant. With 9.5 million visitors to the city every year, our primary income in the first 2 years will be via distillery tours. At this time we are looking for a very cool GM to help us pull together the company structure, apply for licenses set up accounting systems and help us set achievable goals etc. I am interested in finding a great structured organiser who is a team player with possible background in hospitality, drink and luxury goods sectors. I am happy to consider all strong proposals. There is a budget for a wage from September, plus I will look at rev share and equity for the right person.

Click here for more information on all of the roles.

Book your ticket now so you don't miss out

At these events, exciting start-up and early-stage companies present their businesses to a room of individuals with the right skills to help them reach their next stage of growth. The roles available range from sales, marketing and finance board positions to mentorships, chair, CEO and non-executive director positions.

The roles on offer can be full or part time. Some offer paid remuneration and all packages offer additional rewards such as sweat equity, share options, commissions and bonuses.

If you think you could make a significant difference to a fast-growing company, then this is the event for you. The networking is also highly recommended.

Agenda

18.00 : Registration & soft drinks

18.30 : Introductions Modwenna Rees-Mogg & Nabarro

18.35 : Speaker - Heather White - Non-Exec Hub

18.40 : Pitching Companies

19.10 : Break

19.20 : Speaker - Marks & Clerk

19.25 : Pitching Companies

20.00 : Networking and nibbles

21.30 : Finish

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