Finance and Accounting for Non-Financial Managers

Registration Deadline: 27 April 2018

Training Dates: 04 & 09 May 2018

Training Hours: 08:30 - 17:00

Location: CIIM Nicosia ( View Map )

Language of Instruction: English


The programme will provide participants with the ability to interpret the key information contained in the annual financial statements.

By understanding financial statements, participants will be in a better position to identify the financial strengths and weaknesses within their own organisation and with other companies in which they may have an interest. Furthermore, participants will be introduced to the main principles of financial planning.

Key Outcomes

  • Learn the terminology of accounting & finance
  • Understand the principles involved in preparing financial statements
  • Interpret and utlise the information contained in financial statements
  • Understand the budgeting and reporting process
  • Appreciate the limitations of financial statements
  • Master practical tools of financial analysis
  • Identify ways of increasing cash-flows

Designed for

  • Non-Financial Managers

Topics to be covered

  • The role of accounting and finance in the management process
  • Communicating financial performance
  • Financial statements
  • Measuring and reporting profitability
  • Current vs. capital expenses
  • Depreciation rules
  • Tracing changes in revenue, costs and income
  • Balance Sheets
  • Assets, liabilities and equity
  • Current vs. Fixed Assets
  • Capital Employed
  • Gearing and Liquidity
  • Cash Flow Statements
  • Ratios
  • Steps of the Financial Planning Process
  • Forecasting sales and net income
  • Budgeting
  • External Financing
  • Variance Analysis and KPIs
  • Break-Even Analysis and Cost-Optimisation
  • Practical examples, cases and illustrations from local and international companies


All CIIM Executive Education programmes are developed and taught by CIIM resident and visiting faculty who are widely recognised as skilled professional trainers with local and international business experience. Through many years of business consulting and teaching experience, CIIM faculty develop innovative long-lasting practical concepts that shape the practice of your daily professional responsibilities. The result is a practical educational experience which is designed to have an immediate effect in your business environment.

Olga Kandiskaia

Dr. Olga Kandinskaia 
Director in Business Management
Resident Expert, CIIM


Dr. Olga Kandinskaia

Dr. Kandinskaia is an Assistant Professor of Finance at CIIM and Director of the MSc Business Management. She has over 20 years of local and international experience in business training. She teaches MBA and MSc courses and delivers corporate executive trainings.

Her expertise is in the areas of Accounting and Finance, Business Planning, Strategic Investment Decisions, Corporate Finance, and Financial Modelling. Her focus is on interactive, customized and practically relevant learning where theory is applied to real-life cases.

Dr. Kandinskaia joined CIIM as a full-time resident faculty in 2011. Before joining CIIM, she had taught MBA programs at the University of Greenwich (UK), the University College Plymouth, St Mark & St John (UK), MGIMO University (Moscow, Russia) and The Graduate School of International Business of the Academy of National Economy (Moscow, Russia).

Programme Fee

The programme has been approved by the HRDA (ΑνΑΔ). Organisations registered in Cyprus, who satisfy the HRDA criteria, are entitled to apply for the subsidy and therefore their emolument will be the net fee, as described below:

Gross Fee (before subsidy): €550

HRDA Subsidy: €238*

Net Fee (after subsidy): €312*

No VAT is charged due to CIIM’s non-profit status. Fees include tuition, educational materials, lunch, coffee-breaks and refreshments.


To proceed with your registration, please click the button below to apply online. Participation is subject to availability.

Apply here

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