The Department of Continuing Education at Alliance University Conducted an MDP on Finance for Non-Finance Executives
20 April, 2023
Finance is the life stream of Industry and Commerce that touches every part of the economy in one or more ways. Professionals at key positions in an organization do face problems relating to finance, day in and day out. These problems enhance if these professionals are from a non-finance background. Hence, it is important that the knowledge of key aspects of finance are shared with such professionals. All executives must grasp the financial implications of their decision - from planning and implementing to results and feedback.
The Department of Continuing Education at Alliance University offer a Management Development Program (MDP) precisely to address this need of the industry called ‘Finance for Non-Finance Executives. The program is designed to provide an understanding of the key concepts in finance and financial reporting - and the related vocabulary to discuss it with staff, peer, and supervisors. The program blends broad financial principles with such practical necessities as how to understand and analyze financial reports, budgets, talk to accountants and financial managers, and apply financial strategies to business. The Department of Continuing Education conducted a two-day workshop on the topic for another set of learners.
The program started with basics of finance where its theoretical concepts were explained to the participants. Gradually, they were provided with data by the trainers to solidify the conceptual knowledge they gained. The first session was conducted by Dr. Punith Cariappa, Pro Vice-Chancellor (Student Administration and Affairs) & Professor at Alliance School of Business and the second session was conducted by Dr. Kapil Arora, Professor of Finance at Alliance School of Business. By the end of the session, participants had become familiar with the basic concepts of finance and were comfortable in using them in the correct manner in their vocabulary. They also became fluent with various formulas and had a better grasp of how they could communicate more efficiently in their own organizations when it came to financial aspects.
Participants from companies such as: Sandhar Technologies; Toyota Industries Engine India Private Limited; Narayana Health; Soundarya Institute of Management and Science; Janatha Fish Meal & Oil Products; and Bizotic Edtech Private Limited, learned immensely from the trainers and their training methods as well as the facilities provided, and hospitality extended by Alliance University during the workshop.
The primary objective of the workshop was to increase knowledge levels of non-finance executives, managers, and professionals in the area of accountancy and finance which will assist them to take better quality decisions to improve the top line and bottom line of their organization.