Advanced Accounting and Finance for Managers

General

Program Description

Key Information

  • Course Code: AFB101
    • Duration: 10 days
  • Fee: £5175

Course outline

Introduction to Accounting

  • The two forms of accounting: financial accounting and management accounting
  • The regulatory and conceptual framework
  • Qualitative characteristics of useful financial information
  • Types of business entity
  • The annual report and financial statements

Accounting Concepts and Systems

  • Statement of comprehensive income (income statement)
  • Statement of financial position (balance sheet)
  • Statement of cash flows
  • Preparing a set of financial statements
  • The income statement: the cost of sales working
  • Underlying concepts: measurement rules and fundamental accounting concepts
  • Three further property, plant and equipment issues
  • Recording accounting information

Financial Analysis: Part 1

  • Financial statement analysis for investment purposes
  • Other users and their needs
  • Horizontal analysis and trend analysis
  • Vertical analysis
  • Ratio analysis
  • Weaknesses and limitations

Financial Analysis: Part 2

  • The drive for information
  • Stakeholder management
  • Corporate social responsibility reporting
  • Earnings announcements, conference calls, and investor presentations
  • Media relations: press releases and newspaper coverage
  • Social media and internet bulletins

Business Planning

  • Business planning and control: the role of budgets
  • The budget-setting process
  • Basic steps of preparing a budget
  • Budgeting in different types of organization
  • Limitations and problems with budgeting
  • Improving business planning and budgeting

Budgets and Performance Management

  • Responsibility centres
  • The controllability principle
  • Profit-related performance measurement
  • Standard costing and variance analysis
  • Performance management in investment centres
  • Non-financial performance indicators
  • The balanced scorecard
  • Performance measurement in not-for-profit organizations
  • External influences on performance

Cash Flow

  • How much cash does a business need?
  • Methods of establishing cash balances
  • Cash forecasting: the cash budget
  • Cash management: strategies for improving cash flow
  • Interpreting and analyzing a cash-flow forecast

Pricing Decisions

  • The accountant’s perspective – costing and pricing
  • Absorption costing and full-cost-plus pricing
  • Marginal-cost-plus pricing
  • Activity-based costing (ABC) pricing
  • Life-cycle costing and pricing
  • The economist’s perspective
  • The marketer’s perspective
  • Combining the three perspectives: establishing an appropriate pricing strategy
  • Pricing strategies
  • Target pricing and target costing

Investment Decisions

  • Investment appraisal – the basics
  • Traditional evaluation techniques
  • Incorporating real-world complexities into investment appraisal
  • Investment appraisal within the context
  • Taking a broader strategic view

Operational Decisions

  • Operational decision making
  • Cost-volume-profit analysis (CVP)
  • Relevant Costing

Target audience

This finance for non-finance managers training is suitable for:

  • Managers who wish to improve their analytical skills and use accounting and finance tools for managerial advantage.
  • Those who wish to understand and use accounting knowledge for operational and management decision making.

Learning outcomes

Upon completion of this course, you will be able to:

  • Prepare a set of basic financial statements.
  • Interpret financial accounting information.
  • Interpret profit and cash budgets and identify potential problems.
  • Identify appropriate pricing strategies to fit different market needs.
  • Incorporate financial evaluation into operational decision making and problem solving.
Last updated December 2019

About the School

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all o ... Read More

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consulting service provider. We cater to both individual and organisational clients from all over the world. Read less