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Finance for Non-Finance Professionals

Category Finance & Accounts Code FN311
Start Date 19/01/2014 End Date 30/01/2014
Location Cairo Fees $ 3000
Cert. No Language English

Course Outline:


Finance for Non-Finance Professionals

 

Objective:

After completion of this training program, delegates will be able to:

·       Grasp a thorough understanding of the wide range of financial terms and concepts

·       Apply the financial concepts and policies behind the management decision processes

·       Recognize the impact of effective working capital management on company cash flow

·       Control business operations through effective budget management and be able to assess and control the impact of day-to-day business activities on a company’s profitability

·       Communicate effectively with financial executives and top management and be able to interpret and analyze financial statements

 

Who Should Attend?

·         Board of Director’s members

·         Executive & Section’s Head level in the company

Outline:

1.    Introduction to Finance, Accounting & Auditing

·         What is accounting? What is finance?

·         What is financial accounting?

·         Accounting Concept and Principles

Relevance, Reliability, Matching Concept, Timeliness, Neutrality, Faithful Representation, Prudence, Completeness, Single Economic Entity Concept, Money Measurement Concept, Comparability/Consistency, Understandability, Materiality, Going Concern, Accruals, Business Entity, Substance over Form, Realization Concept, Duality Concept

Accounting policiesare the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements.

·         Published Annual Reports for stockholders

·         The role of external Auditor in Holding/Subsidiaries establishments

·         Distinguish between the different types of opinions given in audit reports

·         Why the company needs Internal Auditor although it has external auditor

 

 

 

2.    The Financial Statements

·         The key elements of financial statements defined and explained

·         Assets – current and non-current

·         What is depreciation? – explanation of their impact on profit

·         Liabilities – current and non-current

·         Company net worth

·         How is profit calculated?

·         The difference between revenue and capital expenditure

·         Profit or cash – what is the difference?

 

 

3.    Basic Evaluation of Financial Statements

 

·         Why do we need to evaluate financial statements?

·         Who are the stakeholders and what are their information needs?

·         Financial analysis tools:

o   Vertical Analysis

o   Horizontal Analysis

o   Trend Analysis

o   Ratio Analysis

·         How to calculate accounting ratios

·         How to use ratio analysis to assess performance

·         Profitability ratios

·         Related KPI for finance; profit margins, ROI, asset turnover, average number of days inventory held, etc.

·         Liquidity ratios

·         The meaning of working capital

·         Operating efficiency ratio

·         Gearing ratios

·         The Cash Flow Cycle and Working Capital

·         Valuing a company – Book Value versus Market Value

 

4.    Introduction to Costing Systems

 

·         What is management accounting?

·         Collecting and analyzing costs

·         Types of cost analysis: by type, by location, by behavior, by purpose

·         What are overheads, and how should we analyze them?

·         What is the Cost of Production -  Marginal and Total Costing explained

·         What is inventory, and how does it affect the cost of production?

·         Methods of valuing inventory – FIFO, LIFO, and AVCO explained

·         How to measure the break-even point and the margin of safety

 

5.    Budgets

·         Why do we need budgets? – the link between corporate strategy and operations at all levels of the organization

·         The benefits & limitations of budgets

·         The key features of budgets

·         Basic budget forecasting techniques

·         How to prepare a departmental budget

·         Comparing actual performance with the budget – Variance Analysis


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