JIMS Rohini has organized a Management Development Programme on ‘Financial Skills Enhancement for Non-Finance Professionals’ for the Chief General Managers (CGMs) of GAIL India Ltd. on 4th August 2022 at GAIL Training Institute, Noida. The resource persons were Dr. Vinod Kumar, Professor, JIMS and Dr. Deepika Saxena, Associate Professor, JIMS.
An efficacious professional needs to take multi-dimensional decisions in the business world. Such decisions have vital effect on the profit and wealth generating capacity of the business. A constant effort and appropriate skill is required in the area of finance for accomplishing better organizational goals & formulating business policies. The non-finance professionals are generally found in a puzzling situation while dealing with accounting and finance information especially financial statements and annual reports. The program provided these top executives of GAIL with a comprehensive working knowledge of critical financial concepts in an easy manner that would help them to make better decisions in their concerned areas.
The training program was divided into two parts. The first part emphasized on creating financial skills among participants to use financial data for analysis and decision-making. The focus area of the first part of the program was on understanding the financial and accounting terminology, financial statements such as Income Statement, Position Statement and Cash Flow Statement and techniques of financial analysis and interpretation of financial statements for decision making. The second part of the program focused on understanding and interpreting Integrated Annual Reports of GAIL India Ltd.
The GAIL executives were very participative during the entire training program and lots of discussion happened around various financial aspects related to GAIL and other related companies in the industry. The resource persons answered the queries of the participants with great enthusiasm and zeal.