Financial Management for Non-Financial Managers

Financial Management for Non-Financial Managers is a short training program designed to provide a practical and accessible introduction to managing on the basis of financial information. Financial and accounting information is vital to managing any organization and project.  Financial numbers reflect expenses and revenues and they can be used to judge the economic condition of a project, an organizational unit, or an entire organization. Projects are started to achieve planned outcomes and are expected to do so with a preconceived budget.

When you are to manage, it means that you (and your management team) will take decisions that translate into expenses and revenues. Your ability to understand and speak intelligently about the financial implications of managerial decisions is vital to your professional success.The MSM Financial Management for Non-Financial Managers program provides the tools to do just that, while also helping you to make better business decisions and manage more effectively. This coherent and well-balanced program is taught by passionate educators with real-world business experience.

Leadership & Management

Leadership & Management

Certificate (diploma optional)


Course date
2, 23 November & 3 December 2018 / 1, 15 & 26 March 2019 / 7,21 June & 4 July 2019 / 1, 15 November & 2 December 2019

3 days

Lead trainer Financial Management for Non-Financial Managers
Joris Kersten
Lead trainer Financial Management for Non-Financial Managers

Course dates

The 3-day Financial Management for Non-Financial Managers course has been scheduled four times:

2, 23 November and 3 December

1, 15 & 26 Maart
7, 21 Juni & 4 Juli
1, 15 November & 2 December

The program’s bi-weekly class format affords you the time to absorb, synthesize, and apply course content on the job. To help keep you current, participants who complete the program are welcome to return and repeat any of its classes as refreshers in future editions of this program.

Course objectives

You will leave the program with a financial literacy that empowers you to bolster the financial dimension in your management role. As a result, you will be better equipped to ensure that there is a more solid financial basis for all of your organization’s projects and strategic decisions. An increased financial literacy enables you to better communicate with other management professionals in and outside the organization. This makes you and the organization more valuable.  

Course topics

During the course following topics will be discussed

  • Making cash flow forecasts
  • Interpreting profit & loss statements and balance sheets
  • Assessing investment and project proposals
  • Understanding the CFO’s perspective & role

Teaching methods

This masterclass is provided as a series of workshops. You should expect to learn from working on several real cases to discuss and learn.

Your profile

This program is designed for non-financial middle- or senior-level managers in sales, marketing, manufacturing, operations, and other non-financial roles in a broad range of private and public sectors. Participants can also be:

  • ICT, Legal, HRM, and other functional leaders making a transition into management positions.
  • Business leaders looking to refresh skills and access current thought leadership.
  • Managers considering an MBA or further graduate studies

Participants are expected to have completed a Bachelor and/or Master level degree program.


Each participant receives a certificate of attendance on the last day of the course. Only for those who will complete an additional assignment will receive a diploma. In case you would like to have more information you contact

Joris Kersten

Lead trainer Financial Management for Non-Financial Managers

Joris is an adjunct faculty member at MSM. His main activity is helping companies acquiring and selling Dutch SMEs (through his company Kersten Corporate Finance). Joris also trains accountants, bankers, entrepreneurs and managers. Next to his position at MSM, Joris also teaches at Nyenrode Business University, Maastricht University, TIAS Business School and Erasmus University Rotterdam.

Luc Keuleneer

Lead trainer Financial Management for Non-Financial Managers

Luc Keuleneer is Commercial Engineer (degree obtained with great distinction at the Catholic University Leuven in 1981) and Master of Business Administration with a specialization in Finance from the University of Chicago (1983). He holds certificates of additional training in strategic finance and risk management from IMD Lausanne and the Swiss Finance Institute in Geneva.

At the moment, Luc is a director at KPMG Advisory in Brussels. He is secretary-general of the Belgian Association of Financial Analysts. In February 2010 he was appointed by the Belgian Government as member of the audit committee of the Belgian State, responsible for the coordination of all internal audit departments of the Public Administration/Departments.

Luc is full professor in Financial and Treasury Management at the Free University of Amsterdam. He is/was (visiting) professor at the University of Gent ,the Catholic University of Leuven, the Vlerick Leuven Gent Management School , the University of Maastricht, the Erasmus University Rotterdam , the Maastricht School of Management, UCL, University of Antwerp and UAMS. He is also research associate at IMD Lausanne.

Luc obtained the 2010 ECCH European Case Award in finance, accounting and control with the case ‘Deal Making in troubled waters: the ABN AMRO takeover’. He was in 2009 elected as best lecturer in the International Executive Master in Finance and Control, a joint program of the University of Maastricht and University of Amsterdam.

Luc is (was) a member of the editorial board of Tijdschrift Financieel Management, the VBA-Journaal and Finance and Control. He is the author of several books and articles. He is married and has two children.

The full tuition fee

The tuition fee of this course is € 1,795.

Tuition fee includes all course materials and refreshments.


Corporate Discount:
15% for 2 participants coming from the same organization within 1 academic year
25% for 3 participants coming from the same organization within 1 academic year
40% for 4 - 6 participants coming from the same organization within 1 academic year
For > 6 participants we will offer a tailor made program

Alumni Lifelong Learning:
15% discount for Maastricht School of Management registered Alumni

Cancellation policy

MSM reserves the right to postpone or cancel the program in case the number of participants does not meet the MSM requirements for minimum number of participants. Any payment made to MSM for tuition fee will be refunded. In the case of postponement or cancellation of the program MSM will inform the enrolled candidates at least six weeks before the planned start of the program.

By the participant:
If an admitted participant decides against participation after the tuition fee has been paid, cancellation costs are €200,- (administrative costs)

In case cancellation is done after the program has started no money will be refunded.

No cancellation charges are incurred if the enrolled participant, with written consent of MSM, will be replaced by another participant before the start of the course. Refunded tuition fees will only be reimbursed to the sponsoring party and cannot be forwarded or redeemed by any other party.

Participants who were not granted a visa to enter The Netherlands, can be fully reimbursed if written official documentation is provided of such visa denial.

Application deadline

For the program starting in November 2018  29 October 2018
For the program starting in March 2019 1 February 2019
For the program starting in June 2019 7 May 2019
For the program starting in November 2019 1 October 2019

Admission requirements

Applicants should have the ability to function academically and professionally at Bachelor level and should have an adequate level of spoken and written English.

Reasons to follow Financial Management for Non-Financial Managers

  • Financial “literacy” is a prerequisite to any managerial position
  • Mastering financial management will give you a professional edge
  • Financial numbers will help you to quickly grasp how your project, department or organization is doing.
  • Taught by genuine educators who will help you to truly master financial management
  • You can always come back to refresh your mastery (for free)

Gain sound fundamental knowledge of the conceptual and the practical underpinnings of financial management