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Analytical & Basic Statistical Skills

by on January 6, 2015 | Posted in Finance

In this workshop you will learn all the necessary analytical and statistical skills to make sound decisions. Statistical concepts, tools and techniques will be covered in details.

Who Should Attend?

This workshop is designed for professionals in need of analytically based decisions.

Workshop Topics:

Day 1:

 

  • Introduction
  • Data and Statistics
  • Exercises
    Frequency Distribution and their Graphs: Constructing a Frequency Distribution, Midpoint, Relative Frequency, Cumulative Frequency, Frequency Histogram, Class Boundaries.
  • Frequency Histogram, Frequency Polygon, Relative Frequency Histogram, Cumulative Frequency Graph, the Distribution of Variables, Bar Chart, Pie Charts, Pareto Chart, Scatter Plot, Time Series Chart
  • Concluding Remarks

 

Day two:

 

  • Measures of Central Tendency: Center, Spread, Shape, Mean, Median and Mode Weighted Mean, Mean of a Frequency Distribution, Shapes of Distribution.
  • Exercises
  • Measures of Variation: Range, Inter-Quartile Range, Standard Deviation, The Range of a Distribution, Quartiles, The inter Quartile Range, Percentiles and Deciles.
  • Exercises
  • Concluding Remarks

 

 

Day Three:

 

  • Measures of Variations, continued: Standard Scores, Relative Z-score, Deviation, Variance, Standard Deviation, Interpreting Standard Deviation.
  • Exercises
  • Expected Value, Expected Return, Decision Analysis, Decision Making, and Payoff Table, Decision Making Criteria under Uncertainty, Expected Value (revisited)
  • Exercises
  • Theory of Regression Analysis
  • Exercises
  • Concluding Remarks.

 

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Best Practices in Finance & Accounting

by on January 5, 2015 | Posted in Finance
Objective:
To equip the accounting professional with a comprehensive array of best practices now being employed by today’s leading organizations. You’ll explore many practices you can implement immediately with little or no expense, as well as practices that require advanced technologies but can pay off quickly. You’ll be empowered to challenge traditional accounting paradigms and prioritize the practices that will work best for your organization.

 

By the end of the program, participants will be able to:

  • Understand the operations of the Finance and Accounting department.
  • Acquire internationally implemented best practices in the following areas: Accounts Payables, Billing, Budgeting, Cash Management and Treasury, Costing, Filing, Financial Statements, General Ledger, Inventory, Payroll, and Policies and Procedures.
  • Apply their knowledge through hands-on workshops and group presentations.

Who Should Attend?

This Program is designed for professionals in the field of finance and accounting, managers, supervisors, and finance professionals who need to understand, apply and implement practical tools to enable them to run the finance department more efficiently.

Outline:

Day 1

Importance of Best Practices (BP)

  • Defining BP and Implementation Techniques
  • Effective versus Efficient Tools
  • Your First and Most Important Tool: Internal Customer Surveys

Accounts Payable (AP) Best Practices

  • The Role of Accounts Payable and Accounts Payable Cycle
  • Improving AP through Decentralization and Centralization
  • Enhancing AP Processing Using Vendor Analysis and Reconciliation
  • Purchasing Catalogue
  • Automating Expense Reporting

Billing, Collection, and Cash Management Best Practices

  • Calculating Allowance Methods
  • Internet and Web Billing
  • Improving Cash Management, Lockbox Collections, and Zero-Balance Accounts

Day 2

Budgeting Best Practices

  • Automating Budget Development
  • Enhancing Budgeting Process
  • Preparing Variance Analysis Reports
  • Conditional Formatted Budgets

Financial Statement and Reporting Best Practices

  • Can We Really Improve the Quality of Financial Data?
  • General Ledger
  • Enhancing Report Generating and Analysis

Day 3

Fixed Assets Best Practices

  • Bar Coding Principles
  • Reconciling Your Fixed Assets
  • The Rules of Capitalizing versus Expensing of Fixed Assets

Enhancing the Finance and Accounting (F&A) Departmental Operations

  • The New Set of Skills for F&A
  • Meetings, Clean Desk Policy, and Delegations Best Practices
  • Hiring the Best, Cross-Training, Back-Up Strategies, and Teamwork
  • Staff Responsibility Charts

Finance Process Improvements

  • Document Management Systems
  • Pivot Tables and Pivot Charts
  • Paperless Printing

Day 4

Action Plans-  Case Studies and Exercises

  • Working on a number of case studies
  • A chance to build skills as well as awareness
  • Delegates will be able to raise their own issues and concerns
  • Tools and Techniques for best Practices in Finance and Accounting

Getting Your Plan of Action Together

  • Working in small groups with tutor guidance

 

 

 

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Who Should Attend

 

This workshop is designed for department heads, managers, planners, who should play a part in the yearly budgeting exercise.

 

Learning Objectives

 

This workshop will go thru the steps of reviewing past year performance and teach them the needed steps for planning and budgeting for the following year. It will also cover how to prepare the various budget projects, both operating and capital budgets, using Excel spreadsheets.

 

Workshop Outline:

 

  • Budgeting Cycle
  • Advantages of Budgets
  • Time Coverage of Budgets
  • Planning & Budgeting Cycle
  • Analysis Of Prior Year And Ongoing Performance
    • Analysis of P&L / Expenses Reports
    • Analysis of “Key Performance Indicators” (KPI)
  • PESTL Analysis
    • Political Analysis
    • Economic Analysis
    • Social Analysis
    • Legal/Political Analysis
  • SWOT Analysis
    • Management
    • Marketing
    • Information Technology
    • Financial
    • Human resources
    • Legal
  • Goal Setting
  • Strategy
    • Strategic Objectives
    • Business Objectives
  • Annual Plans
    • Pre-requisites from Departments
    • Operating Budgets: Revenue Budget and OPEX

Capital Budget CAPEX

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In this workshop you will learn the Finance concepts, tools and techniques that can help you make successful and efficient decisions.  This workshop offers exactly what you need to further your career and improve your financial skills.

Who Should Attend?

This workshop is designed for non-financial managers and professionals.

Learning Objectives:

At the end of this workshop you will:

  • Get a firm grasp of the numbers side of your job
  • Gain greater confidence with a working knowledge of business  financials
  • Learn how to “think finance” and translate performance into financial terms
  • Cultivate proactive working relationships with finance professionals and enhance your value to the organization
  • Understand the business dynamics of dollars and cents—and take initiatives that meet your short- and long-term goals
  • Learn key finance terms: assets, liabilities, capital, depreciation, capitalization, current ratio and others
  • Learn the accounting process: journals and ledgers, how debits and credits work
  • Learn accounting and finance principles
  • Develop working rules regarding your corporate financial statements
  • Know how to use the balance sheet to examine assets and liabilities
  • Be able to analyzing the income statement to assess revenues and expenses
  • Understand the statement of cash flow: sources and uses of funds
  • Know the difference between Debt and equity financing
  • Know how to keep your plan on target with budgetary controls
  • Use profit-planning tools, break-even analysis, financial forecasting
  • Understand Cash flow: where cash comes from and how it’s applied
  • Elements of cost accounting
  • Analyze payback method, discounted cash flow, present value and present value index in making profitable capital investment decisions
  • Understand the cost of capital

 

 

 

 

Workshop Outline:

 

Module 1: The Construction of Financial Statements & Their Interpretation

  • The Accounting Entity
  • Accounting Statements – The Language of Business
  • Financial Statements
  • Double entry Principle
  • Chart of Accounts
  • Journals And Ledgers
  • Distinction Between Assets and Expenses
  • Coat Allocations
  • Balance Sheet
  • Accruals Principle
    • How Transactions Affect The Balance Sheet
  • Debit and Credit : Rules
  • Transfer from Journals to “T” Account
  • The Income Statement (Profit & Loss)
    • Rules for Revenues and Expenses
    • Relations of Balance Sheet and Income Statement
    • Statement of Retained Earnings
  • When is Profit Profit?
  • Analysis of Financial Statements
  • Cash Flow Analysis
    • Operating Cash Flow System
    • Non-Operating Cash Flow

Module 2: Ratio Analysis:

 

  • Ratios categories
    • Liquidity Ratios
    • Asset management
    • Debt management
    • Profitability
    • Market value
  • ROA – Du Pont Pyramid

Module 3: COSTING & CONTRIBUTION ACCOUNTING

  • Costing Systems
  • Job Costing
  • Process Costing
  • BREAK EVEN ANALYSIS

Module 4: Cash Planning & Project Evaluation

  • Cash Planning
    • Cash Receipts And Payment Forecast Basis
    • Funds Flow Statements
  • What is capital budgeting?(CAPEX)
  • payback period
  • Cost of Capital
  • Capital Structure
    • Cost of Debt
    • Cost of Preferred Stock
    • Cost of Retained Earnings
    • Cost of New Stock
    • Weighted Average Cost of Capital (WACC)

Module 5: Time Value of Money

  • Future Value of Money
  • Present Value of Money
  • NPV method
  • Internal Rate of Return

Module 6: Valuation Methods

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