Why Choose this Training Course?
Having a grasp of Accounting and Finance basics is crucial for decision-making and communication. This Accounting, Decision-Making & Financial Communication training course offers a detailed overview of how accounting information is gathered, recorded, analyzed, and presented for effective management, control, and decision-making, both internally and externally. Understanding this "language of business" is vital for key personnel within organizations. The course also covers financial and management accounting systems and structures, highlighting their importance in ensuring business success.
What are the Goals?
By attending this COPEX training course you should achieve these goals:
- Understand Income Statement, Balance Sheet, and Cash Flow Statement
- Interpret Cost Behavior and its Impact on Product Costing
- Understand the Process of Budgeting
- Master Cost Allocation to Departments, Products, and Services
- Design a Performance Measurement System
Who is this Training Course for?
This COPEX training course is suitable for a wide range of professionals who wish to achieve career progress by expanding their financial knowledge.
However, it will be most suitable for Operational and Middle Managers who wish to better understand and make use of financial information in their management roles, for example:
- Members of the Operational Management Team
- Managers Who Have Responsibility for Divisional Performance
- Managers Who Have Responsibility for Support Functions
- Consultants Who Provide Advice on Systems and Operations
- Senior Staff Members of Any Department
Course Outline
Day One: Introduction to Accounting
- The importance of accounting information
- The role of the Finance Function
- The accounting equation and financial accounting systems
- Recording facts and applying judgement
- Preparing the Income Statement and Balance Sheet
- Accounting principles and accounting standards
Day Two: Accounting Reports
- The format and contents of the Income Statement
- The format and contents of the Balance Sheet
- The effect of depreciation and impairment on profit
- Identifying and valuing inventory
- Preparing the Cash flow Statement
- The importance of cash flow in business
Day Three: Management Accounting for Control and Decision-Making
- Collecting and analyzing costs
- The structure of direct and indirect costs
- Dealing with overheads – absorption costing or ABC?
- Cost-Volume-Profit and break even analysis
- Decision making – make or buy
- Decision making – the effect of limiting factors
Day Four: Communicating the Plan through Budgeting
- Corporate planning and corporate objectives implemented through budgeting
- The budgeting process and timescale
- Sales budget forecasting techniques
- Cascading the budgets across the whole business
- Preparing functional budgets and the cash budget
- Budgeting principles, methodologies and applications
Day Five: Measuring Performance to Inform Decision Making
- Monthly management reporting
- Setting and using standards
- Identifying and calculating variances
- Operating and planning variances – who is responsible?
- Measuring responsibility centre performance, ROI, RI, and EVA
- Non-financial performance – the Balanced Scorecard
The Certificate
- COPEX Certificate of Attendance will be provided to delegates who attend and complete the course
Material published by Copex shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.
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Duration:5 days
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Format:Classroom
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Language: English
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Certificate:Yes
