| Date: 23 May 2012 Trainer: Olga Kandinskaia Location: CIIM Building, Nicosia
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Overview
The aim of this seminar is to provide those non-financial managers (from all industry sectors) with the ability to interpret the key information contained in the annual financial statements in order to better manage their departments and organisations and be able to communicate effectively about their company’s financial performance and position.
The course identifies and examines the primary sources of accounting information, namely, the statement of financial position, the income statement (and statement of retained earnings), the cash flow statement and (selected) notes to the accounts. The consequences of specific accounting transactions and methods are also examined to highlight how these choices affect financial performance and financial position.
Once participants understand financial statements they will be better able to identify financial strengths and weaknesses of their own organisation together with other companies in which they may have an interest.
Objectives
- To know the terminology of accounting & finance
- To understand the principles involved in preparing financial statements
- To interpret and use the information contained in the annual financial statements
- To appreciate some of the international differences in financial reporting regimes
- Understanding the budgeting and reporting process
- To appreciate the limitations of financial statements
Audience
This course is aimed at non-financial managers who need to have an understanding of financial statements so as to interpret information effectively. The seminar will be applicable, as far as practical, to various industry sectors.
Content
- The nature of accounting and finance and its role in the management process
- The regulation of accounting information
- Preparation of basic cash flow statements
- The information content of cash flow statements
- The importance and classification of operating, investing and financing activities
- The nature and role of accounting and finance in an organisation and wider community
- The balance sheet as a statement of financial position
- Interpreting the Balance Sheet with reference to gearing and liquidity
- Calculating and interpreting price/book value ratios
- Measuring and reporting overall profitability – the income statement
- Definition of revenue and expenses
- The recognition problem of revenues and expenses
- Preparation of the master budget and seasonality
- Interpreting the income statement: key performance indicators
- Budgeting cash flows
- Budgeting for new product launch including NPV calculations
- Forecasting sales and statistical tools (Excel)
- Static and flexible budgeting and reporting of variance
- The causes of variances
- Overall profitability ratios e.g. Return on Equity and key drivers of profitability
- Working capital management and cash conversion efficiency
- Stock market ratio
- Review of significant points and close
Faculty: Olga Kandinskaia
Olga Kandinskaia is an Assistant Professor in Finance at CIIM. She has 18 years of experience in undergraduate, graduate (MBA) and executive courses at different universities and colleges in Cyprus, UK and Russia. Her current teaching covers Financial Management, Advanced Corporate Finance, Financial Risk Management, Finance and Accounting for Non-Financial Managers. Olga has taught on MBA programs of the University of Greenwich (UK), the University College Plymouth, St Mark & St John (UK). She also has two years of experience in developing online courses, and she is currently the leader of the new blended learning initiative at CIIM.
Olga has an extensive record of publications which include two books and more than 50 articles in academic and business journals. Her main research and consulting interests focus on issues of corporate valuations, and also on the usage of financial derivatives as risk management tools. She also has practical experience of working as a futures/derivatives broker.
Olga has demonstrated high evaluation results and excellent teaching skills with the ability to adapt to the competitive international environment. A student’s evaluation comment of her previous seminar with CIIM: “Informative, educational, helpful & enjoyable” (Finance for Non-Financial Managers, Executive Development Seminar for EMED Mining Company, January 2010).
Fees and General Information
This seminar is approved and subsidized for the amount of 133€ by the Human Resource Development Authority (HRDA). HRDA sponsors companies that satisfy their criteria.
The fees are €267 per participant for companies eligible to HRDA subsidy and €400 per participant without HRDA subsidy.
This individual session is part of the Executive Development Programme.
It is possible to attend this individual seminar should places be available.
Fees include tuition, educational materials, coffee breaks and meals.
Due to CIIMs non-profit status NO VAT is charged
