TRAINING COURSES

Financial Management for Non-Financial Professionals

Start Date: 3 Mar 2019
End Date: 7 Mar 2019
Duration: 5
Fees:
Country: Istanboul / Turkey
Category: Finance, Accounting & Investment
Details:

Introduction

Business professional need to understand the financial factors critical to business success. This interactive seminar will show how finance works in todays fast-moving business environment. For any business the key elements of profitability, liquidity and financial structure are critical to continuing success and competitiveness. So these three elements are comprehensively explored and developed at all levels of business activity. You will learn about the accounting processes of recording and reporting business transactions and how these are summarised as periodic financial reports, in accordance with statutory requirements. You will also learn financial reports are analysed and by a variety of user groups

The seminar also has an inward focus , and will explain why management accounting is essential to business survival, and success. It will show how budgeting can control costs and improve profitability. It will also explain and develop tools and techniques for evaluating proposed new investment projects. The seminar will enable you to understand the business from both a financial and strategic perspective , and how business decisions will impact on corporate profitability.

Highlights of the seminar:

         The strategic and operational role of the Finance Function

         The principles of accounting and financial reporting

         How to understand and analyse financial reports

         How management accounting helps to maintain control and improve efficiency

         How we can ensure that investment returns meet the stockholders expectations

 

Objectives

Having completed this seminar you should be able to:

         Explain the nature and role of financial statements and their interpretation

         Use the language of accounting and finance to communicate effectively with financial professionals

         Review the financial performance and financial position of an organisation using the appropriate financial ratio and break-even analysis techniques

         Use budgetary control to compare actual against planned performance and to identify corrective actions

         Evaluate investment projects using DCF and other appraisal methods

         Appreciate the important role of strategic accounting in business performance improvement

 

Training Methodology

This interactive seminar will comprise a range of learning activities, including tutor presentations, with question and answer opportunities, demonstration and practice of analytical techniques, group exercises and discussions, using case studies and current company and market information sources. Whilst the theoretical background to financial management will be explained and justified, the main emphasis will be on putting these into a real world context by providing a practical toolkit of financial techniques.

 

Organisational Impact

What will your organisation gain from sending employees to attend this seminar?

         Greater awareness of the role of accounting and finance

         Ability to understand the structure of accounting systems, and financial reports

         Ability to make more effective and better informed contributions to financial discussions

         Ability to use tools and techniques for financial control and financial management

         Greater understanding of the key drivers which ensure sustainable growth and competitiveness

         Awareness of how business risks can be identified, analysed, and managed

 

Personal Impact

Participants will be able to further develop their personal management skills by being:

         More knowledgeable about accounting and finance systems, and the meaning of financial reports

         Better informed financially, to enable improved management decision-making.

         Better able to contribute to financial discussion, and communicate in financial language

         Better able to contribute to the effective financial management of their organisation.

         Able to evaluate alternative courses of action and identify the most effective choices with regard to the future improvement of their organisation.

         Able to liaise more effectively with other departments on financial matters.

 

Who Should Attend?

         Sales and marketing executives

         Supply-stream professionals

         Project professionals

         Internal auditors

         Any non-financial professionals who are required to read, interpret , and contribute to business financial reports

         Senior Professionals of manufacturing, marketing, engineering

         Human resources professionals,

         Attorneys

         Executive professionals who are involved with development of long-term customers, suppliers, outsourcing partners, and other global strategic alliances.

         Consultants who work with professionals and executives, to support improvements to operational and financial processes.

 

 SEMINAR OUTLINE 

 

DAY 1

A Strategic View of the Business Environment

         The business environment

         The uses and purpose of accounting

         Users of accounting and financial information

         Accounting terminology

         Cash versus profit

         Profit and profitability

         The structure of the balance sheet

         The income statement financial performance

         What is profit?

         The structure of the income statement

         The links between the income statement and the balance sheet

         Accounting conventions

         The published annual report

 

DAY 2

The Financial Statements and Financial Analysis

         The cash flow statement

         What is included in the cash flow statement?

         Why is cash flow so important?

         The structure of the cash flow statement

         The links between the cash flow statement, profit and loss account and balance sheet

         Interpreting the annual report

         The key elements of published reports and accounts

         Ratio analysis: profitability; efficiency; liquidity; investment; cash flow; the Dupont system

         Cash versus profit as a measure of performance, EBITDA and

         Predicting business failure the Altman Z-score

         Sources of financial information

 

DAY 3

Budgeting and Break-even Analysis

         Management accounting

         Cost behaviour

         The overhead problem, traditional versus activity-based absorption

         Cost/volume/profit (CVP)analysis

         Break-even analysis

         The impact of cost structure changes

         Limitations of CVP analysis

         Purposes of budgeting

         The budget process, including activity based budgeting

         Uncertainty and risk worst and best outcomes

         Motivation and the behavioural aspects of budgeting

         Problems in budgeting

 

DAY 4

Budgetary Control, DCF and Capital Investment Appraisal

         Budgetary control

         Standard costing

         Flexed budgets and variance analysis

         Types of variances and the reasons they occur

         Planning and operational variances

         Investment decisions

         Time value of money

         Appraisal techniques

         The effect of inflation

         Free cash flows

         Capital rationing and control of capital investment projects

         Risk and uncertainty and decision-making sensitivity analysis

 

DAY 5

Financing the Business and Strategic Accounting

         Financing the business

         Financing principles, including short-term versus long-term, and debt versus equity (gearing)

         Sources and types of finance

         The cost of capital, cost of equity (Ke), and cost of debt (Kd)

         Weighted average cost of capital (WACC)

         Capital Asset Pricing Model (CAPM)

         Strategic management accounting

         The effect of competitive strategy, and how to gain competitive advantage

         Competitor information and strategic positioning

         Cost of debt and equity capital

         The disadvantages of traditional cost analysis

         The balanced scorecard and critical success factors

         Economic value added

         Benchmarking

 
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