What is the main business topic covered in the workshop?
All managers need to understand, interpret and act on financial information. This workshop provides a common language that enables you to understand what contributes to business profitability.
What is the typical business profile of people who face these issues?
Managers in technical and other non-financial areas who are making business decisions with financial implications and need to understand and interpret financial information. Managers who are interested in gaining more advanced knowledge in finance will benefit from our workshop "Budgeting, Forecasting and Cash Flow Management".
How will I benefit from participating in this workshop?
You will be better able to:
- Understand the language and basic concepts of finance
- Better understand the requirements of finance
- Apply financial concepts and methods to your own business decisions
What will I do in this workshop?
Known across Europe as “the” course for all managers requiring an understanding of finance principles, this workshop provides a solid introduction to the fundamental tools and concepts of finance and accounting in a stimulating and easy-to-follow manner.
Role of Finance
You will get insight on what the various functions of the Finance department, notably external reporting requirements and the internal business support role
- Learn about accounting principles
- Apply those accounting principles to various exercises
- Learn about recognition of revenues and costs
- Construct a P&L and a balance sheet based on case study
- Learn about elements of a cash flow statement
- Construct cash-flow statement based on case study
Financial Ratios and Analysis
- Learn about financial ratios to measure profitability, liquidity and assets management
- Case study to analyse a business, including presentation of your findings
Working Capital and Asset Management
- Understand the importance of working capital management
- Learn about methods to measure inventory, accounts receivable, accounts payable
- Discuss various methods to reduce inventory
- Discuss various methods to reduce accounts receivable
- Discuss various methods to keep capital expenditure under control
Costing and Pricing
- Learn about significance of various cost concepts and methods
- Distinguish between relevant and non-relevant costs for decision taking
- Case study to determine relevant costs for pricing
- Apply pricing strategies to case study
- Break even calculations
- Exercises to project costing and make or buy decisions
- Discuss types of investments
- Learn about various methods to determine the return of investment
- Discuss relevant costs for investment decisions
- Exercises to calculate Payback, NPV, IRR
- Discuss non-financial aspects of investment decisions
- Learn about the role of budgeting
- Discuss various budget approaches
- Exercises to budget variance analysis