________________________________________________________________________________________________

Objectives

• Comprehend the nature of modern Business finance.
• Acquire skills in financial analysis, planning and control.
• Learn costing and budgeting terminology used in business
• Determine full costs of outputs for the goods and services provided
• Master traditional techniques and recent best practices
• Link finance and operation for budgeting purposes and strategy execution
• Learn how to build a comprehensive performance measurement system

The Delegates

• Financial professionals, finance controllers treasurers and inventory professionals
• Senior professionals with a direct responsibility for financial management and control
• Accountants, planners, & cost professionals
• Any professional who has responsibility for any portion of the planning process
• Any professional, at a medium and senior level, who is a part of the financial decision making team
• New interns and trainees with finance related responsibilities

Contents

• 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
• 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
• 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
• 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
• Measuring Corporate Performance: The Balanced Scorecards and Six-sigma
  • Broadening performance measurement systems
  • The key role of customer satisfaction and business process reengineering
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • The key perspectives
  • Introducing the Strategy maps
  • Introducing Six-sigma

The Discount

10% in case of Three P. (or more)