Intensive Program in Finance & Accounting
This is our advanced training for finance and controlling. A management course for finance and accounting, planning and realization of financial objectives, and for the most important subjects affecting controlling. 4 + 4 days.
HOW THE PROGRAM IS STRUCTURED
The 2-part Finance and Controlling Program gives you comprehensive insight into finance and accounting, and demonstrates how they are related.
This course is perfect if you're looking to learn fundamentals that you can use at work, but also if you need to refresh and update your current level of knowledge. In addition, you'll learn how to create a business plan for a company and where to get the money to finance it.
At the heart of this course are the following topics:
- Corporate accounting
- Financial management
- Economic assessment of business models and business plans
WHO SHOULD PARTICIPATE
- Managers of product lines and service centers with responsibility for performance-achievement, sales, profit margins or costs, or managers who want to assume these types of positions.
- Directors of business divisions, Profit Centers, business units or departments and groups who are being given more financial responsibility.
- Specialists and implementers from all areas of business who would like a systematic course about the fundamentals of finance and accounting.
- Junior staff
- Technicians, life scientists, engineers, lawyers and other specialists seeking to expand their skill set.
WHAT TOPICS WILL BE COVERED
Finance and Accounting – a General Overview
- How modern finance and accounting are interrelated
- The instruments of corporate accounting and a general overview of financial management
The Fundamentals of Corporate Accounting
- What executives must know about the structures and logic of corporate accounting
Cost Accounting, Calculations, Pricing
- Cost categories, cost centers
- Full costs, partial costs, marginal costs, legal costs
- Cost and performance accounting systems
- Calculation systems with marginal costs and profit margins
- Pricing – the market versus calculation
- Flexible lower-price limits
Profit Center Account
- Expenses and income
- Internal transfer pricing
- Imputed costs, cost allocation, cost distribution
- Direct and indirect costs
- The Profit Center account
Planning and Budgeting
- Planning and budgeting as an important part of company success
- Structure, content and use of an effective planning and budgeting system
- Flexible budgeting?
Investment and Profitability Calculation
- Calculating the profitability of investments
- The profitability of investments in projects, calculating new business ideas about rationalization or expansion
- Make or buy – outsourcing, insourcing
- The relationship between strategic changes – like portfolio expansion, new market-cultivation concepts, investments in manufacturing processes, etc. – and a broadening of financial needs
- Cash flow statement, capital requirements and fund sourcing
- Types of financing, financial costs
- Liquidity controlling
- Avoiding liquidity shortfalls
Profit and Performance Objectives
- Setting ambitious profit and performance objectives
- Measures and effective mechanisms of profit management
- Achieving profit, cash flow, performance and profit margin objectives
- Budgeting and controlling costs
- Deliberately shaping the break-even point
- Lowering fixed costs or not allowing them to rise
- Cost variation
- Lowering costs – how to approach this?
- The financial consequences of an expansion strategy
- Growth and its consequences on return and liquidity
- The challenge of achieving profitable growth
New Business Ideas
- Conceiving a new business idea that is results-driven
- Designing new business units to profit, new Profit Centers or projects
- Out of ideas a business plan is created
- Content, structure and substance of a business plan
- The "management success report"
- Interpreting and assessing monthly controlling reports
- The "balanced scorecard" as navigation instrument
Managing your Key Performance Indicators (KPI)
- Knowing and using a KPI matrix
- Linking of sales, margins, costs and results
- Management using the right KPIs
Using a Target-Performance Comparison
- Target-performance comparison as a way for early identification of deviations
- Optimal use of decision-relevant management information
Eliminating Sources of Loss
- How sources of loss are discovered
- Are losses an «investment in the future» or an «unnecessary recourse consumer»?
- Reducing unwanted losses
Scrutinizing Business Strategies from a Financial Standpoint
- Developing precise business strategies
- Recognizing the profit potential behind strategic considerations
- Assessing the financial feasibility of a business strategy
- Understanding the investment required to implement a business strategy
Scrutinizing Marketing Concepts from a Financial Standpoint
- The relationship between customer benefits and company profitability
- The perceived value of a service and its pricing
- Discount or premium – market logic should dictate pricing
When you promote men and women of your staff, it will help if you approve their participation in our junior program first. In a briefing, you tell us what exactly your employee needs to develop. We meet with the participant and give you feedback about this. We then give you a promotion proposal and the St. Gallen talent-promotion tool for implementing your own talent management. [more...]