Basic Finances for Everyone
If the company is to achieve positive economic results, it is not enough if only one department understands the finances. Actions and decisions of every single employee affect both revenue as well as costs of the company. Every employee should therefore be a kind of financial manager of his own workplace and understanding basic finances is really important for all of us.
During two days of a practically oriented seminar you will catch up the financial education that you did not get in school, you will learn the basic economic concepts, you will understand the main principles of financial management, you will be able to read the economic news and you will finally understand those various requests, which you get from your financial or accounting department.
Managers, professionals and executives from non-financial and non-accounting departments who want to supplement their knowledge of the fundamentals of the economics and finances and who want to understand how is your company managed financially. Generally, the knowledge of the topics covered are necessary for any employee who has an ambition to become a team-leader or manager in any department.
Seminar presents participants with basic concepts and principles of financial and management accounting, budgeting and control of the company. The flexible structure offers candidates the ability to customize content in terms of professional interest of the participants. The seminar takes place through a combination of short lectures and discussions for each topic with a number of carefully selected illustrative examples. After the seminar you will become familiar with:
- Basic and unusual terms (costs, revenues, debit, credit, IFRS, financial ratios, profitability, liquidity, gearing, cash flows, discounting, the present value of money …) and how they are interrelated
- How are we doing compared to the competition? In which areas do we have to improve?
- Do we make or loose money selling our products and services? How do we find that out? What do we need to do in order to achieve profitability?
- At what minimum price can we afford to sell your products and services?
- What investments are worth to undertake and which are better to be abandoned?
- The importance of planning and budgeting
Engaging seminar is conducted in an interactive manner and the topics are demonstrated on practical examples and using your particular company numbers. For greater clarity also often we use the analogy with personal finances.