Accounting and Finance for Managers

Participants shall get acquainted with

• the relevant terminology
• the practical links between accounting, budgeting and controlling
• the impact of their managerial decisions for their area of responsibility and for the bigger picture at company level
• the importance of their personal contribution to budgeting, decision and controlling process
• key performance indicators and dash boards (to be) used within their company

• Balance sheet and P&L-account
  • what are the main objectives and principles behind different regulatory frameworks (e.g. LuxGAAP, IFRS,)
  • what are the different elements of an annual report?
  • what kind of information can / cannot be found in a balance sheet and in a P&L account?
  • how are assets and liabilities prized?
  • what are possible conclusions which may be drawn from a balance sheet and P&L account?
• Ratios and key performance indicators
  • profit and result (e.g. EBIT, EBITDA, OCF)
  • assets & liabilities
  • solvency
  • liquidity
  • cash flow
  • ROI, ROE, ROX
  • productivity
• Different levels of result
  • profit and loss
  • payments in and out
  • costs and income
• Cost Management
  • optimizing cost? minimizing costs at any prize
  • which factors determine the framework for cost management?
  • different types of costs and how to influence them
  • where is the difference between costs and charges?
    • what do financial resources cost?
    • value adjustments: costs or charges?
    • economic risks: when to be considered?
• Cost management as management tool
  • how to set cost related objectives
  • how to motivate staff
• Cost centers
  • why cost centers?
  • how to define cost centers: some practical guidelines
• Cost per unit
  • overview of calculation methods
• Budgeting
  • external and internal factors to be respected
  • different steps of budgeting
  • how to determine amounts in the plan
  • some financial ratios
  • optimizing cost? minimizing costs at any prize
  • how to present and defend a budget plan (e.g. senior management, bank)
• Case study

At the end of the training, the participants will receive a certificate of participation delivered by the House of Training.