It became crucial for non-accounting professionals in today’s business world to have the ability to read and digest the financial and accounting statements presented in the form of a budget, and annual financial statements in its three main statements ,i.e. financial position statement, income statement and cash flow statement, in order to understand the context of these statements and grasp their role in the decision-making process within the entities they work for and to participate actively in achieving their objectives.
The program aims at providing the non-financial professionals with the skills to deal with and interpret financial statements to extract important insights pertaining to the current performance of the company where they work.
This program is designed to enable the participants to:
Define the four key financial statements: balance sheet, income statement, cash flow statement and statement of changes in owner equity as well as key financial terms such as profit, margins and leverage used in organizations.
Interpret the financial health and condition of a company, division or responsibility center and use financial information for management and evaluation purposes.
Distinguish between accounting and finance and explain the finance role in running businesses.
Prepare a company’s operating budget and align it with the organization’s strategic objectives.
Apply capital budgeting techniques and cost-volume-profit analysis to enhance decision making.
Who Should Attend This Program?
All managers, supervisors and staff from any function including finance who need to improve their understanding and usage of financial information.
Module I: Sources and Use of Financial Information
What is accounting and the difference from finance?
Who are the users of the financial information?
The accounting process.
Some key terms you need to know.
Impact of business transactions on financial statements.
Module II – Understanding Financial Information (Preparing Financial Statements)
Types of financial statements.
Statement of financial position.
Statement of income.
Statement of cash flows.
Statement of changes in equity.
Notes to the financial statements.
Financial evaluation and improving performance of organization.
Module III- Management and Cost Control
High-low method to separate fixed from variable costs.
Least square regression analysis.
Basic cost volume profit (CVP) analysis.
Module IV- Long Term Financial Planning
The nature of investment decisions.
Investments evaluation techniques.
Module V- The Budget Process
The master budget as an approach for profit planning.
Why managers use budgets?
Understanding the components of the master budget
Program Delivery Method
This program will be delivered through a number of activities and workshops. More specifically, the instructor will use a number of techniques as below:
Presentation by the instructor.
Group discussions and activities.
Project to set a budget.
Training Days : 3 days
Training Date : 24th -26th March 2020
Training Timing : 9:00 AM – 1:00 PM
Training Language : English
Material Language : English
Training Venue : Fully equipped training facility in hotel