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Modules
This training course is split into the following modules:
Module I - Financial Analysis, Planning & Control
Module II - Budget Preparation, Allocation and Cost Control
Course Outline
Module I: Financial Analysis, Planning & Control
Day 1
The Challenge of Financial Economic Decision-Making
- The Practice of Financial / Economic Analysis
- The Value-creating Company
- Corporate Value and Shareholder Value
- A Dynamic Perspective of Business
- The Agency Problem and Corporate Governance
- What information and data to use?
- The Nature of Financial Statements
- The Context of Financial Analysis and Decision-making
Day 2
Assessment of Business Performance
- Ratio Analysis and Business Performance
- Management’s Point of View
- Owners’ Point of View
- Lenders’ Point of View
- Ratios as a System – Pyramids of Ratios
- Integration of Financial Performance Analysis
- Economic Value Added (EVA)
- Predicting Financial Distress and Z-score Model
Day 3
Analysis of Investment Decisions
- Applying Time-adjusted Measures
- Net Present Value (NPV) and Internal Rate of Return (IRR)
- Modified Internal Rate of Return (MIRR)
- Strategic Perspective
- EVA and NPV
- Refinements of Investment Analysis
- Equivalent Annual Cost (EAC)
- Sensitivity Analysis, Scenario Analysis, Simulation, and NPV Break-even
- Dealing with Risk and Changing Circumstances
Day 4
Projection of Financial Requirements
- Interrelationship of Financial Projections
- Operating Budgets
- Standard Costing and Variance Analysis
- Cash Forecasts and Cash Budgets
- Sensitivity Analysis
- Dynamics and Growth of the Business System
- Operating Leverage
- Financial Growth Plans
- Financial Modelling
Day 5
Valuation and Business Performance
- Managing for Shareholder Value
- Shareholder Value Creation in Perspective
- Evolution of Value-based Methodologies
- Creating Value in Restructuring and Combinations
- Financial Strategy in Acquisitions
- Business Valuation
- Business Restructuring and Reorganisations
- Management Buy Outs (MBOs) and Management Buy Ins (MBIs)
Module II: Budget Preparation, Allocation and Cost Control
Day 6
Budgeting & Cost Control in the Management System: Link with Strategic Planning
- Budgeting and the Management System of Contemporary Organizations
- Strategic Planning, Budgeting and Management Control
- Strategic Management Accounting – Setting Goal and Objectives
- From Strategic to Operating Plans – Actions and Initiatives
- Measuring and Managing the Performance – KPIs and targets
- Managerial Accountability
Day 7
Budgeting: Principles and Key Concepts
- Understanding the Context for Budgeting
- The Benefit of Budgeting and its Role for Achieving Organizational Targets
- The Shortcomings of the Budgeting Process - How to improve them?
- Principles of Budgeting
- Main Issues with Budget Preparation
- Capex (Capital Expenditures) vs. Opex (Operational Expenditures)
Day 8
Cost Analysis for Budgetary 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
Day 9
Traditional vs. Advanced Techniques in Cost-Control
- Under-costing and Over-costing: Understand Allocation Methods
- How to refine a Costing System?
- Indirect (OH) vs. Direct Costs
- Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
- Cost Hierarchy & Cost Drivers - Linking Resources, Activities and Management
- Introducing Activity-Based Budgeting (ABB) and Management (ABM)
Day 10
New Integrated Performance Measurement Systems
- Beyond Budgeting: Integrating Financial and Pre-financial Information
- The Drivers of Value Creation
- The Balanced Scorecard
- Strategy Maps
- Integrated Reporting
Certificates
- Upon successful completion of the classroom-based 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 Sponsors, one CPE credit is granted per 50 minutes of attendance
- Upon successful completion of the online training course, a GLOMACS Certificate will be awarded to all delegates. Guided Learning Hours – In accordance with ISO 9001:2015–certified quality management standards, one Guided Learning Hour is awarded for every 60 minutes of attendance.
Providers
Endorsed Education Provider
