Basic Economics

Description

The Seminar is an important training opportunity for non-financial executives, allowing them to become familiar with basic processes and concepts of Financial Operations.

The knowledge it offers reinforces the performance of executives, by developing their skills on:

Approaching cost reduction, especially in the area of cost of money
Interpreting balance-sheet data, thus being able to analyse competitors’ finances and evaluate suppliers’ financial performance
Basic Accounting Department Operations and workflow
Use of tools for the reduction of the cost of supplies (i.e. reverse factoring, leasing, etc.)
Activity-based product and project contract costing (ABC)
Use of tools to evaluate investment decisions
Understanding financial reports and indicators, which will allow them to estimate the viability and financial performance of an enterprise.

Course Content

BASIC COMPONENTS OF FINANCIAL MANAGEMENT

Loan types: Which type of loan is suitable for you?
Current Bank rates
Budgeting and Cash Flow Basics
Working capital: What is it and how is it calculated?
What is more advantageous, Leasing or a Loan?
Factoring: What is it and when should it be preferred?
Reverse Factoring: How does it contribute to the reduction of purchases cost?
Evaluation methods for Investment decisions
Cash flow analysis
Checks required to ensure mistake-free publication of financial results
Ways of calculating the cost of stock

ANALYSIS OF BALANCE SHEETS

Structure and content of balance sheets
Evaluation of balance sheet data
Why are assets equal to liabilities?
Current assets: What are they?
Calculating a business’s net value
Calculating a business’s liquidity, cash liquidity, credit to the market and viability

ACCOUNTING BASICS

What is an Accounting Plan?
1st degree, 2nd degree, 3rd degree and 4th degree accounts
Transaction files and account files
The basic equation of Accounting
General Ledger: What is it?
Balance: Definition
Fixed and variable cost
Cost of goods sold: definition
Order costs
Storage cost of stock in the warehouse
Activity-based Costing (ABC)
Flow chart of main accounting operations
General Industrial Expenses: What do they include?

FINANCIAL INDICATORS – REPORTS

Identifying potential areas for cost reduction: Calculating the Break-Even Point
“How healthy is your company?” Choosing the best indicator to assess your organisation’s overall performance
Basic financial performance index numbers
Viability index numbers
Auditing financial operations

The seminar is addressed to Managing Directors, General Managers and other Executives involved in decision-making.

Seminars material includes:

“Basic Economics” manual including Case Studies and solutions (hardcopy)
Complete seminar presentation
Excel spreadsheets for Financial decision-making
Free consultancy services on the seminar topic, for an entire year, available trough our website