Why Choose this Training Course?
Financial information is crucial for business managers to perform their roles effectively and with confidence. It originates from the organization's accounting system and offers a comprehensive view of past events. Additionally, this information serves as a valuable resource for forecasting future events, preparing budgets, setting targets, and maintaining operational control. It can also be used to assess comparative performance and profitability. This training course is designed to equip managers with the skills needed to understand, interpret, and use financial information. Participants will learn to apply this knowledge in planning, controlling, and making informed decisions that enhance organizational value.
What are the Goals?
By attending this COPEX training course, you should achieve these goals:
- Understanding How Financial Statements are Prepared, and What They Mean
- How to Analyse and Interpret Annual Financial Statements
- How Cost Analysis Helps us With Control, Resource Allocation, and Pricing
- Appreciation of the Importance of Budgets, and How They are Prepared
- Awareness of How Our Company is Financed, and What is the Annual Cost
- The Ability to Use a Variety of Techniques to Evaluate New Investment Proposals
- How to Recognize and Manage Financial Risks, Using a Range of Techniques
Who is this Training Course for?
This COPEX training course is designed for those non-financial staff who wish to gain a better understanding of how finance supports all of the operations and activities of their business. For example this would include Managers and Supervisors in:
- Sales and Marketing
- Logistics and Supply
- Human Resource
- Production and Engineering
- Risk Management and Internal Audit
Course Outline
Day One: The Nature and Purpose of Accounting and Finance
- Why is accounting and finance necessary?
- The role and structure of the Finance Function
- Basic principles of financial accounting
- Teamwork Exercise: Recording business transactions
- Teamwork Exercise: Applying financial judgement in accounting reporting
- Teamwork Exercise: Preparing simple financial statements
Day Two: Understanding the Financial Statements
- The format and structure of the Income Statement and the Balance Sheet
- Why cash flow is important
- Teamwork Exercise: Preparing a Cash Flow Statement
- Published financial reports – format and content
- Techniques for interpreting financial reports
- Teamwork exercise and presentation: Using ratios to assess a company’s performance
Day Three: Using Financial Information for Control and Decision-Making
- Analysing and using financial information
- Teamwork Exercise: Preparing a product cost summary
- Cost-Volume-Profit and Break-Even Analysis
- Teamwork Exercise: Using CVP analysis for decision-making
- Preparing budgets – How and Why?
- Teamwork Exercise: Preparing budgets for a manufacturing business
Day Four: Finance and Investment
- Sources and types of long term finance
- Short-term finance and working capital
- Teamwork Exercise: Preparing a business plan
- Estimating our cost of capital
- Why investment is essential for profitability and growth
- Teamwork Exercise: Appraising new investment proposals
Day Five: Controlling Financial Risks
- The financial risks faced by our business
- Managing financial risks using the ‘four Ts
- Techniques for dealing with investment risk
- Teamwork Exercise: Assessing and managing investment risk
- Techniques for dealing with foreign currency risk
- Teamwork Exercise: Hedging the risks of foreign currency transactions
The Certificate
- COPEX Certificate of Attendance will be provided to delegates who attend and complete the course
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