No-one in business will succeed if they are not financially literate - and no
business will succeed without financially-literate people. This is the ideal
programme for managers and others who don't have a financial qualification or
background but who nonetheless need a greater understanding of the financial
management disciplines essential to your organisation.
This course will give the participants a sound understanding of financial
reports, measures and techniques to make them even more effective in their
roles. It will enable participants to:
* Overcome the barrier of the accountants' strange language
* Deal confidently with financial colleagues
* Improve their understanding of your organisation's finance function
* Radically improve their planning and budgeting skills
* Be much more aware of the impact of their decisions on the profitability of
your organisation
* Enhance their role in the organisation
* Boost their confidence and career development
1 REVIEW OF THE PRINCIPAL FINANCIAL STATEMENTS
* What each statement contains
* Outline
* Detail
* Not just what the statements contain but what they mean
* Balance sheets and P&L accounts (income statements)
* Cash flow statements
* Detailed terminology and interpretation
* Types of fixed asset - tangible, etc.
* Working capital, equity, gearing
2 THE 'RULES' - ACCOUNTING STANDARDS, CONCEPTS AND CONVENTIONS
* Fundamental or 'bedrock' accounting concepts
* Detailed accounting concepts and conventions
* What depreciation means
* The importance of stock, inventory and work in progress values
* Accounting policies that most affect reporting and results
* The importance of accounting standards and IFRS
3 WHERE THE FIGURES COME FROM
* Accounting records
* Assets / liabilities, Income / expenditure
* General / nominal ledgers
* Need for internal controls
* 'Sarbox' and related issues
4 MANAGING THE BUDGET PROCESS
* Have clear objectives, remit, responsibilities and time schedule
* The business plan
* Links with corporate strategy
* The budget cycle
* Links with company culture
* Budgeting methods
* 'New' budgeting
* Zero-based budgets
* Reviewing budgets
* Responding to the figures
* The need for appropriate accounting and reporting systems
5 WHAT ARE COSTS? HOW TO ACCOUNT FOR THEM
* Cost definitions
* Full / absorption costing
* Overheads - overhead allocation or absorption
* Activity based costing
* Marginal costing / break-even - use in planning
6 WHO DOES WHAT? A REVIEW OF WHAT DIFFERENT TYPES OF ACCOUNTANT DO
* Financial accounting
* Management accounting
* Treasury function
* Activities and terms
7 HOW THE STATEMENTS CAN BE INTERPRETED
* What published accounts contain
* Analytical review (ratio analysis)
* Return on capital employed, margins and profitability
* Making assets work - asset turnover
* Fixed assets, debtor, stock turnover
* Responding to figures
* EBIT, EBITEDIA, eps and other analysts' measure
8 OTHER KEY ISSUES
* Creative accounting
* Accounting for groups
* Intangible assets - brand names
* Company valuations
* Fixed assets / leased assets / off-balance sheet finance