Understanding Financial Statements: Non-financial managers benefit from learning how to read and interpret financial statements like balance sheets, income statements, and cash flow statements to grasp a company's financial health.

Cost Management: Learning about cost structures, cost behaviors, and ways to manage and control costs is crucial for effective decision-making.

Budgeting and Forecasting: Managers should understand the process of creating budgets and forecasts, as these are essential tools for planning and monitoring financial performance.

Capital Budgeting and Investment Decisions: Evaluating investment opportunities and understanding techniques like Net Present Value (NPV) and Internal Rate of Return (IRR) are vital for making sound investment decisions.

Financial Ratios and Analysis: Knowing how to use financial ratios to assess a company's performance and compare it to industry benchmarks helps in understanding trends and identifying areas for improvement.

Cash Flow Management: Understanding cash flow cycles, cash conversion cycles, and managing working capital efficiently are crucial for ensuring the company's liquidity.

Risk Management: Recognizing different types of financial risks (such as market risk, credit risk, operational risk) and strategies to mitigate these risks is essential in decision-making.

Financial Controls and Compliance: Being aware of internal controls, regulatory compliance, and ethical considerations in financial management ensures transparency and accountability.

Strategic Financial Planning: Understanding how financial decisions align with the company's overall strategy and contribute to its long-term success is crucial for non-financial managers.

Communication and Collaboration: Effective communication with finance and accounting teams, asking relevant financial questions, and collaborating on financial matters across departments enhances overall business performance.