Accounting and Finance for Managers
21 hour(s)
Objectives
Participants shall get acquainted with
- the relevant terminology,
- the practical links between accounting, budgeting and controlling,
- the impact of their managerial decisions for their area of responsibility and for the bigger picture at company level,
- the importance of their personal contribution to budgeting, decision and controlling process,
- key performance indicators and dash boards (to be) used within their company.
Content
* Balance sheet and P&L-account
*
** what are the main objectives and principles behind different regulatory frameworks (e.g. LuxGAAP, IFRS,)
** what are the different elements of an annual report?
** what kind of information can / cannot be found in a balance sheet and in a P&L account?
** how are assets and liabilities prized?
** what are possible conclusions which may be drawn from a balance sheet and P&L account?
* Ratios and key performance indicators
*
** profit and result (e.g. EBIT, EBITDA, OCF)
** assets & liabilities
** solvency
** liquidity
** cash flow
** ROI, ROE, ROX
** productivity
* Different levels of result
*
** profit and loss
** payments in and out
** costs and income
* Cost Management
*
** optimizing cost ? minimizing costs at any prize
** which factors determine the framework for cost management?
** different types of costs and how to influence them
** where is the difference between costs and charges?
**
*** what do financial resources cost?
*** value adjustments: costs or charges?
*** economic risks: when to be considered?
* Cost management as management tool
*
** how to set cost related objectives
** how to motivate staff
* Cost centers
*
** why cost centers?
** how to define cost centers: some practical guidelines
* Cost per unit
*
** overview of calculation methods
* Budgeting
*
** external and internal factors to be respected
** different steps of budgeting
** how to determine amounts in the plan
** some financial ratios
** optimizing cost ? minimizing costs at any prize
** how to present and defend a budget plan (e.g. senior management, bank)
* Case study
Target group
Who is the course aimed at?
Managers with high level education outside accounting & finance (e.g. engineers, lawyers, doctors, ...) who want to:
- become more familiar with the tasks related to accounting and finance as well as budgeting and controlling,
- more effectively manage their professional activity and business,
- become more competent and self-confident in accounting and finance related issues,
- ask the right questions when talking to other professionals (e.g. accountants, banks, …).
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Assessment
Certficate, diploma
At the end of the training, the participants will receive a certificate of participation delivered by the House of Training.
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Additional information
The course
material will be delivered at the beginning of the course.