Introduction
Financial skills and knowledge are vital for all managers in all organizations. A more challenging business and economic climate and an increase in the financial delegation are making this even more so.
Many senior professionals miss formal training in finance and often feel uncomfortable when discussing financial matters with their peers and financial professionals. This interactive and engaging program addresses these important issues.
Key areas covered in this program include:
- Reading, interpreting and using financial statements (internal and external)
- Improving business cases and decision making
- Costing and presenting plans and proposals
- Working more effectively with budgets
- Delivering improved financial performance, profit & cash flow
Conference Objectives of Fundamentals of Finance & Accounting
At the end of this program delegates will be able to:
- Read and interpret financial statements
- Analyze business performance
- Contribute to cash and working capital management
- Build budgets and Manage costs and budgets
- Present business cases and utilize financing techniques to improve decision making
Conference Methodology of Fundamentals of Finance & Accounting
The training uses an interesting mix of lively discussion, case studies, and exercises, contemporary examples and videos.
We focus on the practical application of concepts and ideas. Experiences from real business situations and decisions will be used to bring concepts to life. Delegates are requested to bring copies of their organization’s accounts together with internal financial reports that they work with.
Organizational Impact of Fundamentals of Finance & Accounting
Organizations will benefit from trained managers who will:
- Make better business and management decisions and cases
- Manage budgets and resources more effectively
- Have better regard for their impacts on:
- Profit
- Cash
- Business Risk
- Business Performance
- Work more effectively with colleagues in other functions (including finance)
- Identify more opportunities to improve business performance
- Provide knowledge and understanding that can be shared amongst other departments of the business
Personal Impact of Fundamentals of Finance & Accounting
Participants will be able to advance their careers as a result of understanding the various subject covered. In particular, they will be able to:
- Understand the basic concepts of finance as it relates to their businesses
- Interpret their organization's financial signals
- Think and speak the language of finance
- Read and understand balance sheets and profit-and-loss statements
- Understand how to control and manage a companies cash flow
Conference Outlines of Fundamentals of Finance & Accounting
DAY 1
The Basics
- Accounting Terminology and Policies
- Accounting as an information system
- The accounting equation- what does it mean
- Generally accepted Accounting Principles
- Differentiating between cash and accrual basis accounting
- Basic cash flow statements
- Walking through an Annual Report
- The annual report package
- The role of an external auditor
- The accountant’s report and auditor’s opinion
DAY 2
How To Interpret Accounts and Financial Statement Analysis
- Preparing income statement & balance sheet
- Financial and liquidity ratios
- The cash conversion cycle
- Working capital management
- Profitability and gearing ratios
- Du Pont Formula
- Financial & Non-financial analysis
- Credit analysis
- Z- Scores and credit ratings
- Bank lending decisions
DAY 3
Planning for Profit
- Understanding and working with costs
- Plan for cost reduction and profit improvement
- Fixed and variable costs income statement
- Break-even analysis
- Contribution margin
- Costing approaches – Full Absorption, Marginal, ABC
- Standard Costing
- New ideas in cost management – lean principles
DAY 4
Budgeting in Today’s Competitive Business
- The Budgeting Process
- The role of budgeting
- Annual budgeting process
- Identifying and resolving budgeting variances
- Different budgeting systems in use today
- Budgeting tips and techniques
- Variance analysis
DAY 5
Cash Flow & Investment Decisions
- Capital budgeting
- Weighted Average Cost of Capital
- Present Value
- Internal Rate of Return – method
- Profitability Index
- Discounted cash flow
About Istanbul
Few places compare to the vibrant, cosmopolitan city of Istanbul, whose enormous size straddles both Europe and Asia, forming a bridge between western and eastern cultures. Resting upon the natural harbor of the Golden Horn, the skyline of the once-Constantinople is pierced with minarets and ancient monuments that embody centuries of history. While it is brimming with historical landmarks and colorful markets, modern Istanbul is also well represented through its contemporary art scene, European-style café culture, world-class dining venues.
Things to do and places to visit in Istanbul
Istanbul is teeming with attractions and landmarks from historic sights and unique cuisine to lively markets and unmistakable culture. It is a thriving city, with a myriad of things to do that skillfully manage to blend every aspect of both the contemporary and the historical world.
On a city break in Istanbul be sure to:
- Visit a hammam, a traditional Turkish bath, whose origins date back to Roman times.
- Marvel at the Hagia Sophia, Süleymaniye Mosque and Blue Mosque, Istanbul's most spectacular monuments that dominate the skyline.
- Explore the Topkapi Palace Museum, one of Istanbul's most visited museums, home to over 80,000 artifacts.
- Walk through the Basilica Cistern, an underground marvel built in the 4th century.
- Be dazzled by the Grand Bazaar, one of the world's oldest and largest covered markets.
- Go shopping for exotic products and Turkish delights in the Spice Bazaar.
- Cross the bridge connecting Europe and Asia against the backdrop of the Bosphorus, or take a Bosphorus cruise.
- Taste the diversity and flavor of Turkish cuisine.
- Admire panoramas of the city from the Galata Tower.
- Walk through Taksim Square, the city's dynamic square that never sleeps.