Accounting, Financial Communication and Decision Making Course
Accounting, Finance and Budgeting Training

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Accounting, Financial Communication and Decision Making Course
Course Overview:
The Accounting, Financial Communication, and Decision-Making Course gives students the ability to provide chronology of financial accounting, cash flow and profit statement, income statement, balance sheet, and cash flow statement.
In this particular course, the student will be able to learn how to make financial decisions such as discounting cash flow techniques and cost-use analysis.
In addition, it deals with budgeting as a control and planning device, variance deviations analysis and management versus financial accounting.
Participants would have learnt to apply financial information for enhanced business performance and value addition for sound decision making and strategic planning.
Course Objectives:
At the end of this Accounting, Financial Communication, and Decision Making Training, participants will be able to:
- Communicate and question financial data effectively
- Illuminate the difference between profit and cash flow
- Prepare an income statement, statement of financial position, and cash flow statement
- Recognize the content of and relationships between financial statements (income statement, balance sheet, and statement of cash flow)
- Recognize discounted cash flow methods and their application to financial decision making
- Deduce cost performance and its impact on product costing
Who Should Attend?
This Accounting, Financial Communication, and Decision-Making Course is ideal for:
- Operations
- Technical
- Administration
- Procurement
- Planning
- Sales & Marketing
- Research & Development
- Senior staff members of any department
- Consultants who provide advice on systems and operations
- Members of the operational management team
Course Outlines:
An introduction to accounting
- What is accounting?
- What forms can accounting take?
- Definition and importance of profit
- Decision scenarios explored
- Funding business operations
- Who is interested in profit?
- Cash vs. Accrual accounting
- Cash flow forecasting and improvement
- The significance of accounting data
- The job of the Finance Function
- The accounting equation and financial-related accounting systems.
- Reporting facts and applying judgment.
- Preparing the Income Statement and Balance Sheet.
- Accounting standards and bookkeeping benchmarks.
Financial Statements, Accounting Policies, and Reporting Standards
Income Statement – Basic Components
- Revenues & the questions
- Direct/variable/product costs
- Indirect/fixed/period costs
- Mixed costs
- Non-cash deductions: the what, the why & the how
- Depreciation: various methods explored
- Amortization: impairment test
- Depletion: when & how
- The difference between profit and cash
- A closer look at costs and expenses
- Profit calculations
- Summarizing profit statements and extracting the key figures
Balance Sheet:
- Assets – current & long term
- Liabilities – current & long term
- Equity – components
- Capital employed - options
- Managing the working capital cycle
Cash Flow Statement:
- Operating sources/uses
- Investing sources/uses
- Financing sources/uses
Making and Communicating Decisions Using Budgets
- The master budgets
- Budgeting as a planning tool, a control mechanism, a communications device & value creation
- Budgeting Sales to “drive” the correct budget
- Operating budget components
- Financial budget
- Pro Forma Financial Statements
- Cash Budgets
- Capital budget
- Interrelationship of Financial Projections
- Dynamics and Growth of the Business System – a model review
- Flexible vs. traditional budgets – the pros & cons
- Variance analysis as a tool for improvement & communications
- Price and volume effects within variance analysis: state of the art
Financial VS Management Accounting: Differences and Similarities
- Objectives of Managerial Accounting
- Managerial Versus Financial Accounting:
- Role of the Managerial Accountant
- Financial accounting: what we show to the public
- Objectives of financial accounting
- Role of financial accountant
- Cost terminology: variable, fixed, controllable, non-controllable, incremental, sunk, opportunity, and relevant
- Cost behaviors in Cost-Volume-Profit scenarios: contribution margin and fixed costs
- Breakeven and targeted net income scenarios
- Cost/Benefit analysis
Ultimatum Goal of Planning – Valuation, Business Performance & Decision Making
- Definitions of Value
- Responsibility centers: cost, profit, and investment
- Measuring responsibility center performance
- Segment reporting internally and externally
- Business Valuation from multiple perspectives
- Managing Shareholder Value
- Shareholder Value Creation in Perspective
- Evolution of Value-Based Methodologies in planning and budgeting
- Creating Value in Restructuring and Combinations beyond planning and reporting- the case for real change!
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