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Why Finance Matters

  • Demystifying financial jargon
  • Generally Accepted Accounting Principles (GAAP)
  • Public vs. private financial methodologies
  • Accountability and responsibility

The Key Building Blocks of Financial Control

Decoding the income statement

  • Differentiating income, operating and capital expense items
  • Putting the pieces together to measure profit and business success
  • When a sale becomes a sale: sales recognition

Analyzing the balance sheet

  • Evaluating the worth of an established business
  • Distinguishing between fixed and current assets and liabilities
  • Defining depreciation and amortization
  • Linking the income statement to the balance sheet
  • Shareholder equity

Cash Flow: The Lifeblood of Organizations

Making the key connection between business activity and cash flow

  • Differentiating between cash flow, profit and net worth
  • Connecting cash management to line management
  • Credit and cash flow
  • How much cash is enough?

The importance of depreciation and amortization

  • How depreciation impacts your budget over time
  • Methods for calculating depreciation
  • Advantages and disadvantages of various key methods
  • Impacting the management budget

Managing a Profit or Cost Center

Selecting the best costing method for your situation

  • Absorption, marginal, activity-based costing
  • Determining costs in service businesses
  • Avoiding costing traps

The unique features of project costing

  • Estimating project duration and future costs
  • Leveraging debt to your advantage
  • Anticipating problems using cost control
  • Making estimates based on incomplete information

Choosing projects that optimize shareholders' interests

  • Making the financial case using ROI
  • Advantages and disadvantages of ROI, payback, discounted cash flow (DCF) and NPV techniques
  • Selecting viable projects

A Manager's Guide to Budgeting

Recognizing that budgets are more than numbers

  • Budgeting as sociology, not accounting
  • The politics of getting a budget approved
  • The relationship between a well-designed budget and how others measure your performance
  • Managing effectively within budgeting constraints

Comparing budget approaches

  • Top-down
  • Bottom-up

Types of budgets

  • Incremental
  • Zero-based
  • Rolling
  • Others
  • Developing the budget numbers

Budgeting as a planning and control tool

  • Using the budget to control the business
  • Limiting factors
  • Budget process and coordination
  • Forecasting sales revenues and expenses
  • Adjusting the budget to reality

Pulling It All Together

  • Applying financial tools and concepts in the real world
  • Evaluating a company's health through its annual report
  • Comparing public and private sector practices
  • Recognizing potential traps in creative accounting

Why Finance Matters

  • Demystifying financial jargon
  • Generally Accepted Accounting Principles (GAAP)
  • Accountability and responsibility for financial information

The Key Building Blocks of Financial Control

Decoding the profit and loss account

  • Differentiating income, operating and capital expense items
  • Putting the pieces together to measure profit and business success
  • When a sale becomes a sale: sales recognition

Analysing the balance sheet

  • Evaluating the worth of an established business
  • Distinguishing between fixed and current assets and liabilities
  • Depreciation and amortisation
  • Linking the profit and loss account to the balance sheet
  • Shareholder equity: What is it and why does it matter?

Cash Flow: The Lifeblood of Organisations

Making the key connection between business activity and cash flow

  • Differentiating between cash flow, profit and net worth
  • Connecting cash management to line management
  • Credit and cash flow—maximising benefits and minimising costs
  • How much cash is enough?
  • Generating unique information from cash flow statements

The importance of depreciation and amortisation

  • How depreciation impacts your budget over time
  • Methods for calculating depreciation
  • Advantages and disadvantages of various key methods
  • Impacting the management budget
  • Where depreciation rules come from

Managing a Cost Center

Overview of costing methods

  • The difference between absorption and marginal costing
  • Activity-based costing (ABC)
  • Costing as the basis for unit pricing
  • Analysing costs to gain competitive advantage
  • Distinguishing between direct and indirect costs

Selecting the best costing method

  • Break-even analysis
  • Costing in service industries
  • Costing with incomplete information

A Manager's Guide to Budgeting

Recognising that budgets are more than numbers

  • Budgeting as sociology, not accounting
  • The politics of getting a budget approved
  • The relationship between a well-designed budget and how others measure your performance
  • Managing effectively within budgeting constraints
  • Making the budget work for you

Comparing budget approaches

  • Top-down
  • Bottom-up

Types of budgets

  • Incremental
  • Zero-based
  • Rolling
  • Others
  • Developing the budget numbers

Budgeting as a planning and control tool

  • Controlling and evaluating the business using the budget
  • Dealing with limiting factors
  • Budget process and coordination
  • Forecasting sales revenues and expenses
  • Adjusting the budget to reality

Pulling It All Together

  • Applying financial tools and concepts in the real world
  • Evaluating a company's health through its annual report
  • Recognising potential traps in creative accounting
  • Simple tools to determine whether you are working for the next Enron
  • Learning from recent examples
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