Best Practice in Finance & Accounting

ICTD International Centre for Training and Development

ICTD International Centre for Training and Development

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Read more about Finance

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Who should attend

  • Financial and non-financial professionals who wish to test their high performance and high potential knowledge, skills and attitudes with other similar individuals
  • Anyone who wishes to reinforce their knowledge of financial functions/processes and who requires a more integrative financial view

About the course

For every best practice you may already be using, there are probably dozens more you could use to be more competitive. Many are very simple and easy to implement with immediate impact while others are more complex. This unique seminar:

  • Presents finance and accounting as integral business processes executing the organization's strategy
  • Explains how to select and prioritize best practices
  • Shows how to evaluate potential costs and benefits

## Course Objectives

Having completed this program you should be able to:

  • Understand the importance of a well-defined budget process
  • Learn costing and budgeting terminology used in business
  • Master techniques for cost-benefit analysis
  • Learn how to construct profit, cash and balance sheet plans and budgets
  • Learn how to evaluate variances from plan and identify corrective actions
  • Understand discounted cash flow (DCF) techniques and their application to financial decision making
  • Build and use budgets relevant to your organization

## Course Outline

The need for Financial Control in business

  • Understanding accounting
  • Management accounting versus financial accounting
  • The relationship between business management and financial management
  • How budgeting fits into the bigger picture
  • How cost management improves an organization’s financial position
  • Key aspects of managing working capital

Capital Budgeting and Investment Appraisal

  • The time value of money
  • Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
  • Selecting an appraisal technique
  • The use of Sensitivity analysis in evaluating projects
  • Strategic considerations in assessing capital projects
  • Creating an effective Capital Budgeting framework

Cost Analysis and Management

  • Understanding cost structure and behavior
  • Costs as a relationship to outputs – cost/volume/price relationship
  • The concept of contribution margin
  • Break-even analysis for planning and control
  • Cost allocation and apportionment
  • Benefit-cost analysis

Full Costing, Marginal Costing and Activity Based Costing

  • Comparing full and marginal costing
  • Direct and indirect costs in budgeting for decision making
  • Role of costs in pricing strategies
  • Activity Based Costing (ABC)
  • Managing cost control

Budget Construction and Control

  • Nature and purpose of budgets for planning and control
  • Types of budgets and budgeting
  • Creating Key Performance Indicators for financial and non-financial performance
  • Building a budget
  • Budgetary control and variance analysis
  • Budgeting for non-financial measures -introducing the Balanced Scorecard

Videos and materials

Best Practice in Finance & Accounting at ICTD International Centre for Training and Development

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Finance

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Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.