No longer can we assume that the Finance Department has the sole responsibility for managing the financial performance of an organisation. Financial Literacy is critical for all executives, leaders, managers and supervisors to ensure successful and sustainable performance.
Interpreting & Analyzing the Financial Statements
Specifically you will learn to:
- Understand how all financial performance comes from the ground up.
- Understand what drives your organisation’s performance.
- Identify where you are performing well and where you are not
- Calculate measures of profitability that take into account required returns
Financial Decision Making
Specifically you will learn:
- To understand the effect of time on the value of money.
- A brief introduction to how the concept of the time value of money is used to help make decisions.
- To understand the cost/volume dynamics of your business using cost/volume/profit analysis.
The Accounting System in Action: Internal Controls, Costing and Budgeting
Specifically you will learn:
- The Accounting Cycle.
- The structure of the accounting system.
- The General Ledgers, and how sub-ledgers relate to it.
- The nature of control and control systems.
- The need for control in organisations.
- The purpose of the Management Control System.
- Costs and cost drivers.
- How to accumulate and allocate costs.
- To compare traditional costing with Activity Based Costing.
- How budgets work and variances are calculated.
- To calculate rolling forecasts.
- How responsibility centres works