Financial Strategy: Essential Finance Management Skills

Course Code: FA11

►Course Objective

 

  • Use and evaluate the various techniques of capital investment appraisal
  • Develop appropriate financial strategies
  • Relate financial strategy to business strategy
  • Effectively manage cash and working capital to reduce costs and improve cash flow

 

►Target Audience

 

  • Finance Executive
  • and financial professionals involved in the development and delivery of financial strategy.
  • Junior Executives and
  • financial professionals seeking career advancement and development.
  • Senior and experienced professionals
  • and finance professionals seeking either CPD or a valuable and stimulating “refresher”.

 

►Course Outline

 

DAY 1

Management and Financial Accounting: Key Concepts and Terminology

  • Identify the major differences and similarities between financial and managerial accounting
  • Understand the role of management accountants in an organization
  • Linking strategy to planning and costing
  • The key role of budgeting and cost control in contemporary organizations
  • Towards a cross-functional process-view of the organization
  • Understand your processes: integrating financial and non-financial aspects
  • Understanding the Financial Statements
  • Video, Examples & Discussions

DAY 2

Cost Analysis

  • What is costing?
  • Cost concepts and terminology
  • Different costs for different purposes
  • Fixed vs. Variable costs: the Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Manufacturing vs. non-manufacturing costs
  • Period vs. Product costs: inventory evaluation and control
  • Case study

DAY 3

Traditional vs. Advanced Techniques in Cost-control

  • Under-costing and over-costing: the consequences for profitability
  • How to refine a costing system?
  • Indirect vs. Direct costs
  • Traditional Cost Allocations systems Vs. Activity-Based Costing
  • Cost hierarchy & Cost drivers
  • Linking resources, activities and management
  • Introducing Activity-Based Budgeting and Management
  • Video, Case Study and Examples

DAY 4

Budgeting: Flexible Budgets and Variance Analysis

  • The role of budgeting
  • Define the master budget and explain its major benefits to an organization
  • Describe the difference between a static budget and a flexible budget
  • Compute flexible-budget variances and sales-volume variances
  • Discuss the behavioral implication of budgeting
  • The budgeting process in your organization: how to improve it?
  • Which tools shall we use to complement budgeting and costing?
  • Problems, Case Study and Exercises

DAY 5

Measuring Corporate Performance: The Balanced Scorecards and Six-Sigma

  • Broadening performance measurement systems
  • The key role of customer satisfaction and business process re-engineering
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • The key perspectives
  • Introducing the Strategy maps
  • Introducing Six-Sigma
  • Video, Case Study and examples


Register for this course


Date & Location

Date : 07 April 2019

Duration : 5 days

Place : Paris - France

Join This Course Now

download the Course file