Finance For Technical Managers

Accounting and Finance has always been recognized as a very key function in any organization. It provides the basis for information reports to be generated from these records to help managers to make a more informed and effective decisions to increase their organizational performance.

In today's business environment, technical managers and engineers are no longer just technical domain specialists but often thought leaders in their organization, involved in project priorities and strategic direction. Having a good financial understanding guides this process better.

Accounting and Finance will forever be an extreme asset and vital aspects to one’s career and organization success. It is a “Need To Know” subject matter.

Hence this training workshop will help all technical managers or any non financial manager to increase their Performance and Communication effectiveness in their daily Accounting Work through new knowledge acquired.

What You Will Learn:

• Know the fundamentals and concept of Accounting and Finance in practice
• Know the Accounting Standard and Policies requirements in use.
• Explain the documentation control requirements in transaction processing.
• Comprehend the various key Accounting and Financial Terms used in the Accounts and Financial Statements.
• Utilise Financial Statement information for decision making.

Course Structure:

• Day One:
• 9.00am – 10.30am
• Introduction
• Introduction of Accounting and Finance and its various key terms use daily.
• The role of Accounting and Finance in business,
• Difference between Financial & Management Accounting and Financial Management.
• Accounting Standards and Policies
• Accounting Concepts and Equations
• Hands on exercise on Accounting Equations.
• 10.30 - 10.45
• Tea break    
• 10.45am – 1.00pm
• Financial Accounting Function
• Accounting Transactions processing and its timing and control matching concept.
• Difference between Capex and Opex.
• Classifications of Cost and Opex – by Function and by Nature
• Importance of Month end adjustments - Accruals, Provisions for Payable expenses, Prepayments, Depreciation & Amortization and Impairment adjustments
• Exercise on Month end adjustments.
• 1.00 - 2.00
• Lunch 
• 2.00pm – 5.00pm with 15 minutes tea break at 3.30pm
• Reading and Understanding the different components in Financial Statements:
• Statement of Total Comprehensive Income:
• Statement of Profit and Loss section
• Revenue and Other Income
• Timing of Revenue recognition.
• Composition of Cost of Sales
• Operating expenses classification
• Finance or Interest Expenses
• Statement of Other Comprehensive Income
• Content of this Statement.
• Meaning and importance of Other Equity Components
• Statement of Financial Position:
• Concept of:
• Non-current and Current Assets,
• Non-Current and Current Liabilities
• Meaning of Property Plant and Equipment and its difference with Investment Properties
• Intangible Assets, e.g. goodwill creation.
• What is Contingent Liabilities?
• Meaning of between assets book value, recoverable value and fair value in assets valuation.
• Day Two:
• 9am to 1.00pm with break from 10.30am to 10.45am.
• Statement of Financial Position - cont:
• Biological Assets
• Right of Use Assets
• Working Capital Components and its impact on Cash flow.
• Deferred Tax Assets and Deferred Tax Liabilities.
• Statement of Cash Flow:
• Operating Activities Cash Flow
• Investing Activities Cash Flow
• Financing Activities Cash Flow
• Reading Cash Flow statement made easy
• Statement of Change in Equity.
• Quiz to recap the understanding of the components in the financial statements.
• 10.30 - 10.45
• Tea break
• 10.45 - 1.00
• Management Accounting Function.
• Purpose of Management Accounting and its usage.
• Financial statement analysis for:
• Profitability
• Liquidity
• Free Cash Flow
• Efficiency on Working Capital management.
• Stability
• Market analysis.
• Assignment on Ratio Calculations and understand the meaning.
• 1.00 - 2.00
• Lunch 
• 2.00pm – 5.00pm with 15 minutes tea break at 3.30pm
• New Capital Expenditure / New Investment proposal evaluation.
• Time Value for money – Present value concept.
• Payback Period
• Internal Rate of Return
• Exercise on Capex / investment evaluation
• Cost Classifications and behavior
• Budgetary control – variance analysis between actual and budget.
• Marginal costing – Cost Volume Profit Analysis for decision making for breakeven and other decision making.