Financial Strategy: Essential Finance Management Skills

Financial Strategy: Essential Finance Management Skills

 

Date & Location: (14-18/May) Singapore – ( 19-23/Nov) Istanbul

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Course Overview

Introduction:

This seminar provides an understanding of the essential fundamentals of corporate finance, financial strategy and financial management. Contemporary practical examples are presented together with the theoretical principles to make the theory come to life. The overriding objective of this seminar is to present a number of integrated and powerful principles to help develop analytical skills and the decision-making capacity of the participants.

 

Program Objectives:

  • Use and evaluate the various techniques of capital investment appraisal
  • Develop appropriate financial strategies
  • Relate financial strategy to business strategy
  • Effectively manage cash and working capital to reduce costs and improve cash flow

 

Who Should Attend?

Finance Executive and financial professionals involved in the development and delivery of financial strategy. – Junior Executives and financial professionals seeking career advancement and development. – Senior and experienced professionals and finance professionals seeking either CPD or a valuable and stimulating “refresher”.

 

Program Outline:

DAY 1

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
  • Video, Examples & Discussions

DAY 2

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
  • Case study

DAY 3

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
  • Video, Case Study and Examples

DAY 4

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

DAY 5

Measuring Corporate Performance: The Balanced Scorecards and Six-Sigma

  • Broadening performance measurement systems
  • The key role of customer satisfaction and business process re-engineering
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • The key perspectives
  • Introducing the Strategy maps
  • Introducing Six-Sigma
  • Video, Case Study and examples