Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.
Course Outline
Module I: Advanced Budgeting & Cost Management
DAY 1
Introduction: The Relevance of Budgeting and Cost Management within Strategy Execution
The Link between Strategy, Planning, Budgeting and Cost Management
Why Budgeting and Costing are so important to manage your company?
Towards a Cross-functional Process-view of the Organization
Financial vs. Managerial Accounting (Where you get information for decision-making)
Understand your Processes: Integrating Financial and Non-financial Aspects
Identify and Discuss the Key issues in terms of Budget / Costing for your own Organization
DAY 2
The Budgeting Framework and its Role within the Management Process
The Role of Budgeting within Management Accounting
The Value of Budgeting in your Company
Behavioral Implications of Budgeting
Key Concepts and Terminology
Advantages and Disadvantages: Critical issues to be Discussed
Overview on the Financial Statements - Balance sheet, Income statement and Cash-Flow
DAY 3
Cost Management for Budgeting Purposes
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
DAY 4
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 Drivers: Linking Resources, Activities and Management
Introducing Activity-Based Budgeting (ABB) and Management (ABM)
DAY 5
Broadening the Performance Measurement Systems
Shortcomings of Traditional Approaches to Budgeting and Performance Measurement
Need to Linking Financial to Operational Issues
Recent Best Practices: the Balanced Scorecard and Six-sigma
Financial Perspective and Customer Perspective
Internal Business Process Perspective and Learning & Growth Perspective
Developing and Adapting the Scorecard
Module II: Advanced Financial Statements Analysis
DAY 6
Introduction to Advanced Financial Analysis
Why analyse financial data?
Who are the users of Financial Information?
Sources of Financial Information
Published Annual Reports and Accounts – What is their purpose?
The Structure and Contents of an Annual Report and Accounts
Creative Accounting, Financial Scandals, and the Agency Problem
Corporate Governance, Sustainability, Ethics and Corporate and Social Responsibility (CSR) Reporting
The Three Main Financial Statements
Income Statement
Balance Sheet
Statement of Cash Flows
DAY 7
Analysing the Annual Report and Accounts
Using Ratio and Other Analyses of the Annual Report and Accounts to Assess Financial Position and Financial Performance
Profitability and Cost-Volume-Profit (CVP) Analysis
Efficiency and Working Capital
Liquidity and the Short-term Solvency
Investment and Growth
Financial Structure and Long-term Solvency
Ratio Analysis using Excel
Excel Trend Analysis using Common-size Horizontal Analysis and Vertical Analysis for Comparability
DAY 8
Analytical Tools, Cash vs. Profit and the Cash Forecast
The Dupont System of Ratio Analysis and Pyramids of Ratios
Segmental Analysis and Value Added Analysis of the Annual Report and Accounts
The Fundamental Statistical Tools and Graphical Representations
Using Statistical Techniques to Analyse and Forecast Financial Data
The Impact of Alternative Asset Valuation Methods on the Balance Sheet and Profitability
Cash flow vs. Profit – The Best Measure of Financial Performance
Working Capital and the Cash Flow Operating Cycle
Direct and Indirect Cash Flow Analysis and the Cash Flow Forecast
DAY 9
Financing the Business, Capital Investment Project and Business Valuation
Analysis of the Balance Sheet to Identify Long-term Debt and Equity, and Short-term Financing
Capital Cost Models: Cost of Equity using Dividend Growth and Capital Asset Pricing Model (CAPM); Cost of Debt
Weighted Average Cost of Capital (WACC)
Optimal Capital Structure Models to Minimise WACC
Future Values, Present Values, and Discounted Cash Flow (DCF)
Using Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR) and Equivalent Annual Cost (EAC) to Analyse and Evaluate Capital Projects
The Reasons for Business Valuations
Business Valuation Models
DAY 10
Analysing and Predicting Corporate Failure, Business and Financial Risk
Predicting Financial Distress and Corporate Railure – The Altman Z-score Model
Risk and Uncertainty
Risk Analysis using Expected Values, Standard Deviation and Coefficient of Variation
Sensitivity, Simulation, Scenario and Break-even Analysis Techniques
The Analytical Tools to Manage Risk
Systematic Risk, Unsystematic Risk, Business Risk and Financial Risk
Financial Risk– Interest Rate and Foreign Currency Exchange Rate Exposures
Using Insurance, Hedging and Derivatives to Mitigate and Minimise risk
Certificates
On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Providers and Associations
Endorsed Education Provider
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
In Association With
Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-week training course.
SEMINAR OUTLINE
Module I: Advanced Budgeting & Cost Management
DAY 1
Introduction: The Relevance of Budgeting and Cost Management within Strategy Execution
The Link between Strategy, Planning, Budgeting and Cost Management
Why Budgeting and Costing are so important to manage your company?
Towards a Cross-functional Process-view of the Organization
Financial vs. Managerial Accounting (Where you get information for decision-making)
Understand your Processes: Integrating Financial and Non-financial Aspects
Identify and Discuss the Key issues in terms of Budget / Costing for your own Organization
DAY 2
The Budgeting Framework and its Role within the Management Process
The Role of Budgeting within Management Accounting
The Value of Budgeting in your Company
Behavioral Implications of Budgeting
Key Concepts and Terminology
Advantages and Disadvantages: Critical issues to be Discussed
Overview on the Financial Statements - Balance sheet, Income statement and Cash-Flow
DAY 3
Cost Management for Budgeting Purposes
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
DAY 4
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 Drivers: Linking Resources, Activities and Management
Introducing Activity-Based Budgeting (ABB) and Management (ABM)
DAY 5
Broadening the Performance Measurement Systems
Shortcomings of Traditional Approaches to Budgeting and Performance Measurement
Need to Linking Financial to Operational Issues
Recent Best Practices: the Balanced Scorecard and Six-sigma
Financial Perspective and Customer Perspective
Internal Business Process Perspective and Learning & Growth Perspective
Developing and Adapting the Scorecard
Module II: Advanced Financial Statements Analysis
DAY 6
Introduction to Advanced Financial Analysis
Why analyse financial data?
Who are the users of Financial Information?
Sources of Financial Information
Published Annual Reports and Accounts – What is their purpose?
The Structure and Contents of an Annual Report and Accounts
Creative Accounting, Financial Scandals, and the Agency Problem
Corporate Governance, Sustainability, Ethics and Corporate and Social Responsibility (CSR) Reporting
The Three Main Financial Statements
Income Statement
Balance Sheet
Statement of Cash Flows
DAY 7
Analysing the Annual Report and Accounts
Using Ratio and Other Analyses of the Annual Report and Accounts to Assess Financial Position and Financial Performance
Profitability and Cost-Volume-Profit (CVP) Analysis
Efficiency and Working Capital
Liquidity and the Short-term Solvency
Investment and Growth
Financial Structure and Long-term Solvency
Ratio Analysis using Excel
Excel Trend Analysis using Common-size Horizontal Analysis and Vertical Analysis for Comparability
DAY 8
Analytical Tools, Cash vs. Profit and the Cash Forecast
The Dupont System of Ratio Analysis and Pyramids of Ratios
Segmental Analysis and Value Added Analysis of the Annual Report and Accounts
The Fundamental Statistical Tools and Graphical Representations
Using Statistical Techniques to Analyse and Forecast Financial Data
The Impact of Alternative Asset Valuation Methods on the Balance Sheet and Profitability
Cash flow vs. Profit – The Best Measure of Financial Performance
Working Capital and the Cash Flow Operating Cycle
Direct and Indirect Cash Flow Analysis and the Cash Flow Forecast
DAY 9
Financing the Business, Capital Investment Project and Business Valuation
Analysis of the Balance Sheet to Identify Long-term Debt and Equity, and Short-term Financing
Capital Cost Models: Cost of Equity using Dividend Growth and Capital Asset Pricing Model (CAPM); Cost of Debt
Weighted Average Cost of Capital (WACC)
Optimal Capital Structure Models to Minimise WACC
Future Values, Present Values, and Discounted Cash Flow (DCF)
Using Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR) and Equivalent Annual Cost (EAC) to Analyse and Evaluate Capital Projects
The Reasons for Business Valuations
Business Valuation Models
DAY 10
Analysing and Predicting Corporate Failure, Business and Financial Risk
Predicting Financial Distress and Corporate Railure – The Altman Z-score Model
Risk and Uncertainty
Risk Analysis using Expected Values, Standard Deviation and Coefficient of Variation
Sensitivity, Simulation, Scenario and Break-even Analysis Techniques
The Analytical Tools to Manage Risk
Systematic Risk, Unsystematic Risk, Business Risk and Financial Risk
Financial Risk– Interest Rate and Foreign Currency Exchange Rate Exposures
Using Insurance, Hedging and Derivatives to Mitigate and Minimise risk
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