Finance for Non Finance Managers

Who should attend
• Top managers and department managers
• Administrative personnel, employees of sales, marketing and IT departments, with no special education in finance and accounting.
• To familiarize participants with the main aspects of accounting and financial management, such as principles of financial statements and budget formation, cash flows and income management
• To demonstrate to participants how financial information is analyzed, how it is vital for making management decisions
• To train participants to effectively work with company’s financial statements
• To exercise practical skills for forming budgets.

Training outline

Part 1. Accounting and reporting
• Principal accounting systems:
o Finance, and management accounting
o Generally accepted accounting principles
• Components of annual financial statements
• Balance Sheet as a source of information on company’s investments and sources of financing
o Balance Sheet equation
o Main Balance Sheet sections
o Balance Sheet analysis

Examples of Balance Sheet structure of well-known companies from different industries
• Case study: Accounting for company’s operations, using “double entry method”, preparation of company’s Balance Sheet and its analysis
• Income Statement (IS) as a source of information of company’s business activity
o Problem of revenue and expenses recognition
o Income Statement formats
o Definition of income (gross, EBITDA, operating, EBIT, net income)
o Income Statement analysis
o Examples of structure and trends of IS measures of well-known companies
• Case study (continued): Preparation and analysis of Income Statement
• Statement of Cash Flows (SCF) as an instrument of cash flows management
o Structure of Statement of Cash Flows
o Methods of preparation of Statement of Cash Flows: direct and indirect
o Analysis of Statement of Cash Flows
o Examples of structure and trends of SCF measures of well-known companies • Case study (continued): Preparation and analysis of Statement of Cash Flows

Part 2. Analysis of Financial Statements
• Financial ratios
o Return on operations (sales), profit margin
o Business activity (assets turnover, working capital management)
o Return on assets (ROA)
o Financial solvency and liquidity
o Return on equity (ROE)
o Factor Analysis based on financial measures of well-known companies from different industries
• Case study (continued): Analyzing the results of company operations using the financial statements completed on the first training day
Part 3. Company’s Budget Formation
• The system of financial planning and budgeting
o Cycle of working with information in the management process
o Setting up goals and objectives for the budget period
o Order of budget estimation (steps to follow)
o Budget analysis

• Case study (continued): Formulating company’s budget based on analysis of results of company operations using the calculations made on the first and second training days
• Budget analysis. Development of actions aimed to achieving of the objectives set. Conclusions and recommendations
• Summing-up the training. Questions and answers. Feedback.

Accounting, Financial Reporting and Budgeting
This course covers the general principles of accounting, financial reporting, performance measures and budgeting.. It is designed for accountants, auditors, budget professionals and controllers as well as academics and other professionals who have an interest in accounting, financial.

Upon completing this course, you will have an understanding of:
• the characteristics and differences of the environment that necessitate the unique accounting and financial reporting;
• the process of setting accounting and financial reporting standards for entities;
• the bases of accounting and measurement focuses used;
• fiscal accountability;
• exchange and non exchange transactions;
• the uses of cost accounting;
• performance measures;
• budgeting;
• accounting and reporting in state, including:
o determining the financial reporting entity;
o fund accounting and reporting;
o Accounting and reporting;
o accounting and reporting for specific transactions.

• Accounting and reporting, including:
o budgeting;
o budgetary accounting;
o financial accounting foundations;
o financial statements, notes, and supplementary reporting;
o accounting and reporting for specific transactions.

Course Content
The course consists of the following chapters:
1. Influences, concepts of financial reporting, and standards-setting.
2. General principles.
3. Cost accounting and performance reporting.
4. Budgeting.
5. Accounting and reporting
a. Accounting standards and financial reporting.
b. Fund accounting and reporting.
c. Financial reporting.
d. Accounting and reporting for specific asset and liability
e. Revenue, expenditure/expense and other operating statement
6. Budgeting and financial reporting.
a. budgeting.
b. budgetary accounting.
c. financial accounting and reporting foundations.
d. financial statements and management’s discussion and
e. financial accounting standards and illustrations