Seminar on Understanding the Financial Statements

Overview:

This action packed seminar will include understand the accounting process, GAAP compliance, IFRS, understanding the Profit & Loss (GP, OP, NP), Balance Sheet (ROE, ROA) and Cash Flow, major phases of budgeting, how to format a budget, how to prepare a forecast, the different profiles used in planning, inventory management including basic inventory controls, cycle counting, inventory accuracy rates, carrying costs, how cash is impacted, how to enhance plans, processes, policies, practices, plus improving cost controls and revenue enhancements within the organizations. It will identify the best practices to understand capital evaluation methods payback, NPV, (ROI) return on investment, IRR (internal rate of return, break evens, how to establish financial targets, control costs, and how ratios such as profitability, liquidity, debt and efficiency work.

This information filled seminar will help you address:

1.       Necessity of planning for accurate numbers,

2.       Characteristics of successful accounting system

3.       How to limit risks and costs that come with making financial decision,

4.       How to outline a budget and a forecast

5.       How to prepare a strategic plan

6.       How manage lost of productivity, customer satisfaction, quality issues,

7.       Inventory Management Best Practices,

8.       Financial Statement Analysis

Why should you attend?

Have you ever been in a meeting and you were uncertain, doubtful of your ability to grasp “the numbers being addressed” or ever felt lost or just said "I have not clue what language this people are talking" well we have the workshop for you.

Grasping the numbers is an essential business skill, vital to how you contribute to your organization’s success. If preparing budgets, controlling inventory, interpreting financial data, understanding accounting terms, reviewing financials statements, forecasting, evaluating new company initiatives (capital projects) are all or just a small portion of your daily responsibilities this is the seminar for you!

Gain the knowledge, behaviors and confidence to meet the challenges of today’s difficult economy you will benefit from the latest financial management strategies and techniques to keep your skills sharp and your financial acumen strong and focused.

This powerful, action packed, information filled, 2-day seminar will enhance your knowledge of your job by helping you understand Finance, Accounting, Budgeting, Inventory and Finance Statement Analysis.(All in 2 days! )

·         Language of Business (Business Vocabulary)

·         Understanding Accounting Concepts & applying GAAP, IFRS

·         Understanding the Financial Statements (Balance Sheet, Income Statement, Cash Flow,

·         How to Quickly Decipher Statements (Vertical analysis and Horizontal Analysis)

·         How to Increase your Competitive Position

·         Understanding Best Practices of Inventory Management (Three Step Process for Smooth Inventory)

·         Calculating Inventory Carrying Costs

·         How Use and Manage Cycle Counts

·         How to Increase your Inventory Accuracy Rate (How Accurate is Your Inventory?)

·         Dealing with the Challenge of WIP

·         How to Prepare Budgets (6 basic budgets)

·         Understanding Effective Budget Rules

·         Understanding FASB 117 Financial Statements for Non-Profits

·         Understanding Top's Down vs. Bottom's Up

·         Understanding the Budget Phases

·         Capital Budget Evaluation (NPV, IRR, Payback, Hurdle Rate)

·         How to Prepare a Forecast

·         Seven Steps in Forecasting

·         Understanding the Different Methods in Forecasting

·         How to Prepare a Strategic Plan

·         Understanding the Profiles of Strategic Planning

·         (Current Company, Market, Competitors, Product, Service, New Company) Understanding Ratios (profitability, liquidity, efficiency, debt)

·         Team Case Studies (Open Discussion and Studies)

·         much more!

Who will benefit:

·         Anyone who wants to learn accounting, finance

·         Inventory Personal

·         Budget Personal

·         Supervisors, Managers

·         Team Leaders

·         Employees of all types

·         Any one who is  of Non Financial nature

·         Anyone new to Accounting, Budget, Forecasting or Strategic Planning

·         Anyone new to inventory

·         Anyone who wishes to increase or refresh their knowledge of these areas.

Agenda:

Lecture 1:

• Learn how to present ideas in financial terms for greater impact
• Gain confidences with figures and facts
• Understand fundamentals of finance and accounting
• How to increase your competitive position by understanding the numbers
• Understanding cash basis versus accrual basis accounting
• The importance of CASH
• How to increase cash flow
• How to read and understand Financial Statements (Profit & Non-Profits)
• How to analyze the Financial Statements for Performance and Decision making.
• Learn standard practices, languages, terms of accounting and financial
• Learn Best Practices for Managing Inventories
• How to understand Inventory Accuracy Rate
• How to use and manage Cycle Counting
• Language of Business (Business Vocabulary)
• Understanding Accounting Concepts & applying GAAP, IFRS
• Understanding the Financial Statements
• Balance Sheet, Income Statement, Cash Flow
• How to Quickly Decipher Statements

Lecture 2:

• Understanding the Role of Inventory
• How to Increase your Competitive Position 7 Steps
• Understanding Best Practices of Inventory Management 10 Steps
• Understanding the 4 Objectives of Inventory Management