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PRODID:-//McTimothy Associates
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X-WR-CALNAME:McTimothy Associates
X-ORIGINAL-URL:https://www.mctimothyassociates.com/product/essential-finance-accounting-skills-for-non-finance-professionals-basic-3/
X-WR-CALDESC:ESSENTIAL FINANCE/ACCOUNTING SKILLS FOR NON-FINANCE PROFESSIONALS (BASIC)
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DTSTART;TZID=Europe/Paris:20251127T100000
DTEND;TZID=Europe/Paris:20251129T160000
SUMMARY:ESSENTIAL FINANCE/ACCOUNTING SKILLS FOR NON-FINANCE PROFESSIONALS (BASIC)
DESCRIPTION:COURSE COVERAGE INTRODUCTION To succeed at any employment level and position, knowledge of basic financial principles is critical. 'Finance for non-Finance Professionals' transforms financial and accounting concepts into decision making tools you can use successfully every day. You will learn to apply the fundamentals of finance to improve budget management, increase potential profits, and assess the financial performance of business activities. You will also understand the terminology used by accounting and finance staff and will feel more confident when being involved with them or using them. This course will help you do a better job and prepare you for senior management positions where financial awareness is crucial.  Course Methodology  The course uses a mix of interactive techniques, such as brief presentations by the consultant, case studies and group exercises to apply knowledge acquired throughout the course.  Course Objectives  By the end of the course, participants will be able to:  Define the four key financial statements: balance sheet, income statement, cash flow and 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  Distinguish between accounting and finance and explain the finance role in running businesses  Prepare a company's operating budget and relate it to the organization's strategic objectives  Apply capital budgeting techniques and cost-volume-profit analysis to enhance decision making  Target Audience  Managers, supervisors and staff from any function including finance who need to improve their understanding and usage of financial information.  Target Competencies  Understanding financial statements  Financial analysis  Working capital management  Preparing operating budgets  Making capital budget decisions  Financial decision making  Course Outline  The key financial statements  Understanding the accounting cycle  The five main accounts in financial statements  Income statement: tool for performance measurement  Accrual basis versus cash basis  Balance sheet: tool for financial position  The balanced status  Statement of owners’ equity  Statement of cash flows: cash is king  Wrapping-up: the cycle of financial statements  External and internal auditors’ responsibilities  Analysis of financial statements  Why are ratios useful  Horizontal and trend analysis  Vertical analysis: common size statements  Common size financial statements  Building blocks analysis and reading through the numbers:  Liquidity ratios: ability to settle short-term dues  Solvency ratios: ability to settle long-term dues  Activity ratios: ability to manage assets efficiently  Profitability ratios  Limitations of financial ratio analysis  Working capital management  Definition of working capital and working capital management  Working capital management strategies for current assets  Balancing profitability and liquidity  Working capital management strategies for current liabilities  trade-off between profitability and certainty  Recap: concept of financial management  Accounting versus finance: rules and responsibilities  Three pillars of finance  Financing decisions  Investing decisions  Operating decisions  Breakeven analysis and decision making  Defining fixed costs  Defining variable costs  Contribution margin formula  Computing breakeven point  Sensitivity analysis: changing assumptions  Operating budget process and techniques  What is an operating budget  Steps to budget development  Master budget components  Sales forecasting  Approaches to budgeting  Incremental budgeting  Zero-based budgeting  Budgetary control and correction  Capital budgeting: the investing decisions  Examples of exercises involving capital budgeting exercise  Time value of money: a prerequisite for investing decisions  Required rate of return for investments  Examples of cash outflows for capital projects  Examples of cash inflows for projects  Net present value calculation  Internal rate o  Duration: 2 days Class Session : 10:00am – 4:00pm each day including Breakfast and Lunch time Customize Your Training This training solution and other training topics from McTimothyAssociates are currently available as residential/in-house option. Please Note McTimothy Associates Reserves the right to postpone or cancel a course due to unforeseen circumstances beyond our control. In such cases delegate(s) will be registered for the next run of the Course.
URL:https://www.mctimothyassociates.com/product/essential-finance-accounting-skills-for-non-finance-professionals-basic-3/
LOCATION:The professional Place, 12B Olumoroti Street Gbagada Phrase 2, Gbagada Lagos
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