REF: | 2024_250179 |
DATE: | 02 - 06 Sep 2024 06.Sep.2024 |
LOCATION: |
Vienna (Austria) |
INDIVIDUAL FEE: |
4900 Euro |
Introduction
Business professionals require a comprehensive understanding of financial factors crucial for success. This finance for nonfinancial managers course navigates the intricate workings of finance in today's dynamic business environment, emphasizing the pivotal elements of profitability, liquidity, and financial structure.
Participants in the finance for nonfinancial managers course will delve into accounting processes, recording and reporting transactions, and summarizing them as periodic financial reports. These reports, mandated by statutory requirements, undergo analysis by diverse user groups.
With an inward focus, the finance for nonfinancial managers course underscores the indispensable role of management accounting in business survival and success. It elucidates how budgeting acts as a tool to control costs and enhance profitability.
Additionally, the finance for nonfinancial managers course explores tools and techniques for evaluating new investment projects, enabling participants to grasp the business from financial and strategic perspectives and understand the impact of decisions on corporate profitability.
Targeted Groups
- Project professionals.
- Internal auditors.
- Nonfinancial professionals are contributing to business financial reports.
- Senior professionals in manufacturing, marketing, and engineering.
- Human resources professionals.
- Legal professionals.
- Executive professionals are involved in long-term customer, supplier, outsourcing partner, and global strategic alliance development.
- Consultants collaborate with professionals and executives to enhance operational and financial processes.
Course Objectives
Upon completion of the finance and accounting for nonfinancial managers course, participants will:
- Explain the nature and role of financial statements and interpret them.
- Effectively communicate in the language of accounting and finance.
- Review an organization's financial performance and position using appropriate ratios and break-even analysis techniques.
- Utilize budgetary control to compare actual performance against plans and identify corrective actions.
- Evaluate investment projects using Discounted Cash Flow (DCF) and other appraisal methods.
- Appreciate the crucial role of strategic accounting in enhancing business performance.
- Gain knowledge about accounting and finance systems and understand the meaning of financial reports.
- Enable improved management decision-making.
- Contribute to financial discussions and communicate proficiently in economic language.
- Please contribute to the effective financial management of their organization.
- Evaluate alternative courses of action and identify the most effective choices for future organizational improvement.
- Coordinate more effectively with other departments on financial matters.
Targeted Competencies
Upon completion of the finance and accounting for nonfinancial managers course, the target competencies will:
- Understanding financial statements.
- Financial analysis.
- Working capital management.
- Preparing operating budgets.
- Capital budget decision-making.
- Financial decision-making.
Course Content
Unit 1: Creating and Funding Your Business
- Limited companies and other business structures.
- Developing a funding strategy involving raising debt and equity.
- Managing risk and analyzing the effect of funding choices on financial health.
- Exploring various funding sources and their implications.
- Assessing the impact of different business structures on economic viability.
- Evaluating the risk-return profile of other funding options.
Unit 2: Understanding Companies' Published Financial Statements
- Reading and interpreting financial position (balance sheets).
- Reading and interpreting profit and loss (income statements).
- Judging companies' performance and health based on their published information.
- Analyzing the relationship between financial statements and overall business strategy.
- Identifying key trends and insights from financial statements.
- Evaluating the disclosure quality of financial reports.
- Assessing the implications of accounting conventions on financial reporting.
Unit 3: Key Ratios and Key Performance Indicators (KPIs)
- Measuring investment return, extending to earnings per share and beyond.
- Detailed examination of leverage and interest cover for measuring financial health.
- Assessing and improving profit margins as a metric for measuring performance.
- Exploring additional financial ratios such as liquidity and efficiency ratios.
- Analyzing industry-specific key performance indicators.
- Evaluating the impact of economic indicators on financial metrics.
- Utilizing advanced financial metrics for comprehensive performance assessment.
Unit 4: Excellence in Planning and Budgeting
- Formulating strategic plans, operating plans, and annual budgets.
- Negotiating and creating a yearly profitable budget.
- Understanding and controlling cost behavior within the budgetary framework.
- Implementing zero-based budgeting techniques.
- Incorporating scenario planning and sensitivity analysis in budgeting.
- Aligning budgeting processes with overall business objectives.
- Assessing the behavioral aspects of budgeting and their impact on performance.
Unit 5: How Finance People Make Decisions
- Cash flow projections and their significance.
- Discounted Cash Flow (DCF) analysis for investment decisions.
- Return on Investment (ROI) and Cost of Capital (WACC) are relevant in decision-making.
- Relating cash flow returns to the original funding strategy completes the decision-making cycle.
- Examining real options in decision-making.
- Integrating risk management strategies into financial decision-making.
- Utilizing decision trees for complex economic scenarios.