Course Description

INTRODUCTION

This leading edge Fundamentals of Finance and Accounting training course will meet the needs of the increasing number of delegates who find they need a working knowledge of finance and accounting to effectively participate in the management process. This training course not only provides those new to the world of finance with a sound foundation in the language of business but will also serve as an invaluable refresher and update for others that may have studied finance and accounting as part of their previous training.

Recent years have not only brought far-reaching transformation to financial accounting and corporate reporting but the volatility and pace of change in business competition means that it has never been more critical for those that wish to actively engage in the effective management of their Objectives

This training course has been designed to provide you with up to date knowledge and practical skills in the preparation and interpretation of public sector financial statements and budge organisations to understand and communicate in financial terms.

The benefit of this course:

Delegates will benefit from this Fundamentals of Finance and Accounting training course that has been designed to provide them with the essential theory of accounting, financial analysis, forecasting and financial decision-making whilst focusing heavily on building the practical skills to apply these in their own organisations to improve operational effectiveness and decision-making and at the same time greatly enhance their own prospects for career progression by:

Raising awareness of business finance principles and practice

Communicating more effectively with finance and commercial colleagues

Ability to effectively analyse and interpret financial reports

Applying critical analysis to capital investment decisions

Developing practical and effective forecasting skills

Making a meaningful and informed contribution to the budget processes

The organisation will benefit from the raised awareness of and practical skills applicable to financial accounting and reporting; delegates will develop and be able to effectively apply business acumen and improve their decision-making skills. Benefits specifically include:

Raised awareness of business finance principles and practice

More effective communication with finance and commercial functions

Ability to effectively analyse and interpret financial reports

Course Outline

Day 1

Foundation Principles

Identifying and Meeting Stakeholder Needs

The Function of Finance and Accounting in Modern Business

Fundamentals of Financial Accounting

Understanding the 5 Elements of Financial Statements

The Purpose, Structure and Format of Financial Statements

Breaking the Rules - Creative Accounting and Fraud

Day 2

Analysing and Interpreting Financial Statements

The Financial Analyst’s Toolkit

Measuring and Managing - Return On Investment

Measuring and Managing - Asset Management Efficiency

Measuring and Managing - Capital Structure and Risk

Financial Analysis from an Investor’s Perspective

Cash Flow Analysis and Improvement

Day 3

Introduction to Financial Forecasting Techniques

Understanding Cost Behaviour and the Drivers of Profit

Forecasting Sales Revenue and Profit

Identifying the Drivers of Business Cash Flow

Forecasting Business Cash Flow

The Causes and Indicators of Business Failure

Forecasting Business Distress and Failure

Day 4

Business Funding and Investment Decision-making

Financial Strategy – Purpose and Elements

Sources and Cost of Business Finance

Understanding and Achieving an Optimum Capital Structure

Principles of Capital Budgeting

Understanding and Using Discounted Cash Flow (DCF) Analysis

A Cash Flow Based Approach to Capital Investment Decision-making

Day 5

Principles of Financial Planning and Budgeting

The Role of Business Planning and Budgeting

Common Approaches to Budgeting

Behavioural Aspects of Budgeting

Criticisms and Shortcomings in Budgeting Systems

Replacing Budgets with Rolling Forecasts

Developing Key Driver Financial Statement Forecasts