An intensive professional development training course on
Business Financial, Budgeting & Accounting Skills
Management Accounting, Traditional and Advanced Costing Techniques
We currently have no scheduled sessions for this course. If you are interested in running this course, please contact our Training Department at [email protected]
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Why Choose this Training Course?
This Business Financial & Accounting Skills training course addresses key issues, such as cost analysis, continuous improvement of cost assignment, budgeting, management control, and performance evaluation. In so doing, training course pushes delegates to understand the cause-and-effect relationship among business strategy and vision, operational objectives, measures and targets, as well as advanced performance measurement and reporting.
Effective planning and control entails developing skills that go far beyond mastery of any one discipline.
This Business Financial & Accounting Skills training course focuses on:
- Master the Finance and Accounting jargon to understand business processes
- Cost Analysis for Budgeting Purposes and Decision Making
- Financial and Operational Measures to support the budgeting process
- Best Practices to Manage Organizational Performance
- Link Strategy to Costing and Performance Evaluation
What are the Goals?
By the end of This Business Financial, Budgeting & Accounting Skills training course, participants will be able to:
- Understand the Finance and Accounting jargon
- Learn Costing and Budgeting Terminologies used in business
- Determine full costs of outputs for the goods and services provided
- Master traditional techniques and recent best practices
- Link Finance and Operation for Budgeting Purposes and Strategy Execution
- Learn How to Build a Comprehensive Performance Measurement System
Who is this Training Course for?
This Business Financial, Budgeting & Accounting Skills training course is suitable to a wide range of professionals but will greatly benefit:
- Financial Professionals, Finance Controllers Treasurers and Inventory Professionals
- Senior Professionals with a direct responsibility for Financial Management and Control
- Accountants, Planners, & Cost Professionals
- Any professional who has responsibility for any portion of the planning process
- Any professional, at a medium and senior level, who is a part of the financial decision making team
- New interns and trainees with finance related responsibilities
How will this Training Course be Presented?
This Business Financial & Accounting Skills training course will be conducted along 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 re-enforced with practical exercises. Difficult mathematical concepts are minimized and handled in a visual way that is easy to understand with examples demonstrated.
The Course Content
Day One: Management and Financial Accounting: Key Concepts and Terminologies
- Identify the Major Differences and Similarities between Financial and Managerial Accounting
- Understand the Role of Management Accountants in an Organization
- Linking Strategy to Planning and Costing
- The Key Role of Budgeting and Cost Control in Contemporary Organizations
- Towards a Cross-Functional Process-View of the Organization
- Understand Your Processes: Integrating Financial and Non-financial Aspects
- Understanding The Financial Statements
Day Two: Cost Analysis
- What is Costing?
- Cost Concepts and Terminology
- Different Costs for Different Purposes
- Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
- Contribution Margin Analysis
- Manufacturing vs. Non-manufacturing Costs
- Period vs. Product costs: Inventory Evaluation and Control
Day Three: Traditional vs. Advanced Techniques in Cost-control
- Under-costing and Over-costing: The Consequences for Profitability
- How to refine a Costing System?
- Indirect vs. Direct Costs
- Traditional Cost Allocations Systems vs. Activity-Based Costing
- Cost Hierarchy & Cost Drivers
- Linking Resources, Activities and Management
- Introducing Activity-Based Budgeting and Management
- Video, Case Study and Examples
Day Four: Budgeting: Flexible Budgets and Variance Analysis
- The Role of Budgeting
- Define the Master Budget and Explain Its Major Benefits to An Organization
- Describe the Difference between a Static Budget and a Flexible Budget
- Compute Flexible-budget Variances and Sales-volume Variances
- Discuss The Behavioral Implication of Budgeting
- The Budgeting Process in Your Organization: How to improve it?
- Which tools shall we use to complement Budgeting and Costing?
Day Five: Measuring Corporate Performance: The Balanced Scorecards and Six-Sigma
- Broadening Performance Measurement Systems
- The Key Role of Customer Satisfaction and Business Process Re-engineering
- Beyond Budgeting: Integrating Financial and Non-financial Issues
- Introducing The Balanced Scorecard
- The Key Perspectives
- Introducing The Strategy Maps
- Introducing Six-Sigma
The Certificate
- AZTech Certificate of Completion for delegates who attend and complete the course
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