Cost Accounting Techniques & Skills For Businesses & Industries
Overview
This interactive seminar will develop your skills in analyzing business activities. It will guide you through the key steps of analyzing financial statements, appraising new investments and measuring performance at all levels of your organization. It will develop your ability to generate growth and improve profitability, as well as pinpointing problem areas for remedial action. Over the five modules, delegates will acquire skills and technical knowledge which will enable them to manage more effectively. This seminar will also focus on the key risks that businesses face in today’s uncertain economic, political, and physical environment. Effective risk management is of vital importance in today’s business environment and the seminar will promote the understanding of risks and how to minimize the business exposure to them. Practical case studies will be used in each session, to ensure that delegates can relate their learning to real-world problems. The highlights of this course will be: The value of financial reports produced by your organization to managers, and other stakeholders. Where to locate key items of financial information that are important to your management role. How to use a range of tools and techniques to evaluate business performance at all levels. The evaluation of new investment proposals – will they add value to your organization? The identification, measurement, and control of financial risks.
Objectives
Read and understand their organization’s Annual Financial Report Evaluate their firm's financial performance Understand and use analytical tools and techniques in practical case-study situations. Identify business risks, and consider how these should be managed. Appreciate the importance of new investments in maintaining growth and competitiveness, and how these investments should be evaluated. Improve their management skills and increase their value to the organization /li> Understand capital investment decisions
Audience
Accountants and financial analysts. Cost accountants and managers. Business owners and industry professionals. Financial controllers and budget officers
Methodology
The seminar will be conducted along with workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Each learning point will be reinforced with practical exercises. Discussion in groups will promote the exchange of concepts and ideas.
Outline
DAY 1 Introduction to Advanced Financial Analysis Who are the users of financial data? The three key financial statements, measuring performance, position, and cashflow Why does financial data have to be analyzed? Sources and types of financial information Understanding the cash flow cycle vs. the operating cycle Ratio & trend analysis of financial statements Categories of ratios, and what they reveal about the company Case Study DAY 2 Financial Statements How to use common sizing to compare performance and position The format and structure of the Balance Sheet / Statement of Financial Position Sources and types of finance Preparing projections for financing sources Break-even analysis Should we lease or buy our equipment? Should we consider ‘buying-in’ instead of ‘making’ Case study DAY 3 Analytical & Performance Tools & Techniques Finding and using data and information Easily available tools and techniques for financial analysis Using graphical representation The fundamental statistical tools Fitting statistical techniques to financial data Reports and reporting Financial distress Altman's Z-score analysis & it's uses Case study DAY 4 Capital Project Analysis How new investment projects can meet corporate objectives Investment projects - model-building and forecasting Basic techniques for appraisal of investments Incorporating the value of timing - Net present Value vs. Internal Rate of Return How do you choose which method to use Measuring the company’s capital structure, and estimating the cost of capital The dividend valuation model or capital asset pricing model, which is best? Case study DAY 5 Coming to Terms with Risk Financial risk-management principles – what can be done Methods for analyzing financial risk How your bankers can help you to manage financial risk Analytical tools for measuring risk How to develop the tools for your firm Using scenario, sensitivity & subjective analysis techniques How to minimize the risk factors we find Case study