Introduction to Finance & Accounting

This course provides participants with applied knowledge in the use of accounting and finance data so as to make them aware of the basis on which key financial decisions are made. In particular the course seeks to examine corporate decisions in the context of maximising shareholder value. The course will explore the practical realities of effective financial management reporting system within their organisation; interpret and critically analyse financial results; select and use appropriate financial decision-making tools; contribute to improving the organizations management of working capital; apply best practice business planning, budgeting and control techniques for their departments. The course assumes no previous knowledge of accounting or finance and is ideally suited to supervisors and managers, facilitators and senior staff. AIMS The aims of this course are to: i) ii) iii) iv) v) vi) vii) viii) provide participants with the issues and strategies needed to enhance effective decision making. to understand the importance of different types of costs eg sunk and to illustrate the use the need for cost attribution and the importance pf cost objective. derive breakeven points using various different techniques to understand the concept and techniques of price setting to apply recent innovations in finance to their working environments. develop an understanding of the more important concepts and components in accounting and financial management; provide frameworks to formulate and appraise accounting concepts, strategies and policies; apply these techniques in business situations (both private and public), and understand the interface between financial management and the other functions in an organization.

Audience Executives, Managers and line supervisors who receive management reports but are from a non-financial background. Recent appointees to management positions Accounts staff, who prepares inputs to management information systems, will also benefit.

Course Objectives Upon completion of the training course, participants should be able to: Evaluate different financial strategies. Analyse the companys performance through their departmental performance. Manage their own department more effectively Enhance their decision-making and relation to price setting Evaluate their strengths and weaknesses as a means of assessing the financial performance of an organization. Ability to understand the key ingredients of good budget construction and budgetary control. Course Outline Introduction to accounting and accounting principles. Financial reporting Interpretation and Analysis of Financial Statements Financial Forecasting Working Capital Management Cost Behaviour and cost behaviour Budgeting: profit planning & control Std costing and variance analysis Flexible budgeting & OH cost control Short Term Decision Making The Time Value of Money Capital Appraisal Risk and Rates of Return, Cost of Capital Financial reporting Financial Statement Analysis Cost Concepts and Working Capital Management Short Term Decision Making Capital Appraisal Budgetary Control and Planning Internal Performance Evaluation and Transfer Pricing