FINANCIAL MANAGEMENT PROGRAMS

1. CONTROLLING COSTS


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2. WORKING WITH BUDGETS


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3. SING AND ANALYZING FINANCIAL STATEMENTS

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4. CONTROLLING BUSINESS ASSETS

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5. EVALUATING INVESTMENT DECISIONS

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6. MANAGING RISK

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1. CONTROLLING COSTS


Synopsis:

Controlling costs is an absolutely essential need of every business. No business no matter how successful or profitable cannot survive without it. This course intends to equip participants with the knowledge of different types of costs involved in developing, running and sustaining a business in the long term. Participants will also be coached on how to create an environment of cost consciousness to add to the bottom line of the business.

Intended Audience:
  • Senior Management
  • Middle Management
 Duration of Course:1
  • One and a half day (12 hours)
Objectives:
  • To clearly understand different types of organizational costs
  • To help participants understand which costs can be controlled and which can not
  • To explain to participants how to control costs systematically
  • To understand how to create an environment of cost consciousness
Outline:

Introduction to the workshop

  1. Types of costs in an enterprise
    • Costs and expenses
    • Direct costs and indirect costs
    • Fixed costs and variable costs
  2. The role of controlling costs
    • Identifying controllable and uncontrollable costs
    • Reducing controllable costs
  3. Cost standards and cost variances
    • Setting up cost standards
    • Analysis of cost variances
    • Cost information and decisions
  4. Controlling costs system
    • Cost centers
    • Three steps in controlling costs system:
    • Collecting costs,
    • Analyzing costs and
    • Controlling Cost
    • Cost codes
  5. Create cost consciousness
    • Key success factors
  6. Concluding remarks, action planning and wrap-up

 

2. WORKING WITH BUDGETS


Synopsis:

A budget is an invaluable tool for prioritizing and managing your expenses. While everyone has some experience of budgeting by managing their personal / household budgets, when viewed in context of business, the importance of developing and tracking budgets takes a whole new meaning. This course will introduce participants to basic concepts and principles behind the development of budgets and how to manage them effectively. Participants will be introduced to measures and KPIs that are necessary to evaluate their budgeting effectiveness.

Intended Audience:
  • Senior Management
  • Middle Management
 Duration of Course:2
  • One and a half day (12 hours)
Objectives:
  • To understand the need and importance of budgets
  • To make participants understand the steps involved in the budgeting process
  • To enable participants to continuously refine and improve upon their budget estimation & tracking techniques by the use of analytics
Outline:

Introduction to the workshop

  1. Budgets and the benefits of budgets
    • What is a budget?
    • The benefits of budgets
  2. Budgeting process
    • Step 1 – Forming a budget team
    • Step 2 – Identifying the decisive factor and the key budget
    • Step 3 – Collecting and consolidating information
    • Step 4 – Developing master budgets
    • Step 5 – Approving budgets
  3. Using budgets
    • Using flexible budgets
    • Analyzing variance
    • Taking actions
  4. Notes for manager
    • Principles for successfully applying budgets in enterprises
  5. Concluding remarks, action planning and wrap-up

 

3. USING AND ANALYZING FINANCIAL STATEMENTS


Synopsis:

Financial statements are formal records of business activities. No business can survive without them and their preparation and reporting is a regulatory & compliance requirement throughout the world for corporate organizations. This course will introduce attendees to basic analysis techniques of financial analysis and will show how to extract meaningful information to be used as the basis of crucial business decisions.

Intended Audience:
  • Senior Management
  • Middle Management
 Duration of Course:3
  • 1 Day (8 hours)
Objectives:
  • To understand the role of accounting in the decision making process
  • To provide participants with a working knowledge of basic financial tools
  • To introduce participants with basic analysis of financial statements
Outline:

Introduction to the workshop

  1. The role of accounting in the decision making process
    • Role of accounting in making decisions
    • Classifying accounting information
  2. Elements of financial statements
    • Balance sheet
    • Income statement
    • Cash flow statement
    • Notes to financial statements
  3. Basic analysis of financial statements
    • Introduction to analysis techniques
      and analysis benchmarks
    • Practicing analysis: profitability, liquidity,
      business cycle and financial risk
  4. Concluding remarks, action planning and wrap-up

 

4. CONTROLLING BUSINESS ASSETS


Synopsis:

Organizations make money when their revenue exceeds their costs. One way of ensuring growth is by increasing revenue, however in the constantly changing business environment it is equally important to keep costs under control as no business no matter how successful can consistently grow without having a tight control on its bottom line. Many SMEs & young businesses suffer from a lack of experience in managing their assets. This course introduces the concept of internal control systems to such organizations. At the end of this course, attendees will be able to understand the need for such systems and will be able to devise such systems for their own organizations.

Intended Audience:
  • Middle Management
  • Supervisory Level (Territory / Area Supervisors)
 Duration of Course:4
  • 1 Day (8 hours)
Objectives:
  • To understand the elements of an internal control system
  • To train participants to be able to understand and implement basic asset control activities in their organizations
Outline:

Introduction to the workshop

  1. Various kinds of business assets
  2. Internal control system
    • What is internal control?
    • The elements of an internal control system
  3. Asset control activities
    • Cash and bank accounts
    • Accounts receivable
    • Inventory
    • Fixed assets
  4. Notes for managers
  5. Concluding remarks, action planning and wrap-up

 

5. EVALUATING INVESTMENT DECISIONS


Synopsis:

In Today’s highly technology driven and fast paced world, Business is always in a state of constant flux. There are always competitors, innovation and other market forces in motion. To stay competitive, businesses need constant reinvention and expansion. To do so requires taking on huge investment decisions for expansion, coping with change or keeping up with technology. The future of organizations depends on such decisions and hence such decisions should always be taken after proper groundwork and due diligence. This course will equip attendees with the necessary knowledge and tools and enable them to have a formal basis (grounded in theory) to analyze their investment decisions.

Intended Audience:
  • Senior Management
  • Middle Management
 Duration of Course:5
  • 1 Day (8 hours)
Objectives:
  • To understand the need and impact of investment projects
  • To know the techniques required to be able to conduct formal financial analysis for investment projects
  • To understand how capital is acquired and allocated for investment projects
Outline:

Introduction to the workshop

  1. Investment projects and the impact of investment decisions
    • What is an investment project?
    • The impact of an investment project
  2. Required information for the financial analysis of an investment project
    • Investment capital and profit
    • Project implementation
    • Net cash flows (NCF)
    • Residual value of a project
  3. Techniques applied in financial analysis
    • The analysis of an investment project
    • Payback period
    • Net Present Value (NPV)
    • Internal Rate of Return (IRR)
    • The selection of an investment project
    • Analysis of non-financial cost / benefits
  4. Sources of capital for an investment project
    • Long-term capital
    • Short-term capital
    • Principles of capital allocation
  5. Concluding remarks, action planning and wrap-up

 

6. MANAGING RISK


Synopsis:

In business, the unknown can always occur and organizations have to become adept at foreseeing and preparing for risks in advance. Risk management is the identification, assessment, and prioritization of such risks followed by the application of strategies to monitor and minimize the probability of unfortunate events impacting business. This course provides its attendees with the knowledge and practice to be able to foresee risks and prepare adequate risk mitigation strategies in their organizations. This skill can make the difference between the success and failure of an organization.

Intended Audience:
  • Senior Management
  • Middle Management
 Duration of Course:6
  • 1 Day (8 hours)
Objectives:
  • To understand why an organization needs to manage Risks
  • To understand the complete Risk Management cycle
  • To equip attendees with the skills and knowledge to devise risk mitigation strategies
Outline:

Introduction to the workshop

  1. Risk management and its benefits to SMEs
    • Risk management
    • Benefits of risk management
    • Risk appetite/tolerance
  2. Risk management process
    • Risk management process
    • Methods to identify risk
    • Risk assessment matrix
    • Strategies to response to risk
    • Risk monitoring and reports
    • Evaluation of risk management process
    • Risk management roles
  3. Concluding remarks, action planning and wrap-up