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Essentials of Finance and Controlling |
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This program provides a systematic overview of finance and managerial accounting and shows you how they relate to effective management.
Concept |
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In today’s world, up and coming managers and functional
specialists require a systematic overview and understanding
of finance and managerial accounting, and how these contribute to superior management. Every manager must understand financial decisions, and as his or her level of responsibility increases, must direct those decisions competently. |
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Benefits |
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If you are a manager from a non-financial background, this program will familiarize you with essential financial terminology, concepts and applications. It enables you to analyze and interpret commonly used financial information in making business decisions and to work more effectively with the financial managers of your organization. |
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Who should attend |
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- Up and coming managers who are today or will, in the near future, be held accountable for results, costs, contribution margins or profit goals
- Managers of profit centers, business units, and divisions who do not come from a financial background
- Specialists and professionals from all business fields who are looking for a systematic introduction to finance
This program is not designed for Financial Specialists. CFOs, Financial Directors, and COOs may want to consider our Finance for Executives seminar. |
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Areas of Focus |
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Foundations of Financial Management
- Systematic overview of results-oriented financial management
- What managers need to know about finance
- Setting financial goals
- The financial tool box
Performance-based Budgeting
- The planning and budgeting process
- Forecasting cash flows and cash needs
- Budgets focused on accomplishing corporate objectives
- Real-world examples
Financial Statement Analysis
- Importance of financial statements
- Usefulness, limitations, and structure of financial statements
- Financial ratios, including risk analysis and economic profit analysis
Financial Instruments
- Overview of financial markets
- Alternative sources of capital for short- and long-term financing
- Recognizing capital and financing requirements
Evaluating Investment Opportunities
- Evaluating new projects and investments
- Choosing the right hurdle rate
- Determining the return on investment
- Payback period
- Dealing with risk and uncertainty
Allocating Scarce Resources
- The importance of cash flow
- Optimizing input-output relationships
- Resource-based strategies
Managing Costs and Cost Accounting
- Overview of modern cost accounting
- Build a meaningful cost accounting system
- Activity-based costing
- Recognizing and allocating true costs
Effective Management Reporting and Controlling
- Cooperation between departments and functions
- Building an effective information delivery process
- Understanding and evaluating controlling reports
- Formulating your own reporting requirements
Financial Performance Measures
- Implementing the Balanced Scorecard
- Which of the many available performance measures are the right ones for your business?
- Aligning financial performance measures with strategy
Increasing Enterprise Value
- Assessing the financial strength of your organization
- The financial strength of your suppliers, customers, and competitors
- Different approaches towards valuation
- Possibilities and limits to the shareholder value approach
- Sustainable enterprise value increases
Understanding Stakeholders' Expectations
- Shareholder value vs. stakeholder value vs. customer value
- What managers need to know about investors and capital markets
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