We believe that anyone can manage its business successfully. This training is carefully designed to provide basic knowledge on how to run a business financially, but also to "make sense" of the importance for each owner and manager on finance management
and dangers resulting from lack of it.
What does this training bring to you?
Every decision in business has its financial consequences. This three-day training will bring you fundamental knowledge and skills in finance to understand the essence of financial aspect of your business. You will learn how to manage your business
better and more efficiently, both on a daily, operational level, and even more so when making investment, development and other strategic decisions. Knowledge from this training will also be very useful for projects applying for grants from European
and other funds.
It is designed for?
This training is intended for owners and managers of SMEs who want to understand well financial aspects of their business, who are developing financial management function and need to extend their knowledge in this field to be even more successful.
This
training is also intended for those who are just getting ready to start a business venture.
Training content
The estimated duration of this training is 18 classes (of 45 minutes), divided into 9 blocks (of 90 minutes) in three days. Manual and all materials used by the participants are provided in printed and electronic form. Training takes place in small
groups of up to 12 participants in a comfortable and technically fully equipped space.
Training content:
What does it mean to “manage finances” why is it so important and how is it done?
Corporate finance, accounting - financial, management, goals, policy Income and expenses - terms, classification, accrual basis
Costs - terms, features, classification of costs by various criteria,
Assets and liabilities - terms, fixed assets (valuation, depreciation calculation) and current assets (inventories, receivables), long-term and short-term liabilities, classification of short-term liabilities (financial, operating liabilities)
Cash flows - basic terms, flows from operating, investment and financial activities
Financial Statements - Income Statement, Balance Sheet, Cash Flow Statement - relationship between
Understanding the consequences/records of each business transaction in the balance sheet, why it is important to always understand this well when making business decisions
Basic rules of financial "common sense" in business, calculation of the most important financial indicators - ratio analysis, Du Pont analysis, break-even point
Are we liquid? Are our receivables matched with payments? Cash flow planning
Working capital management - money cycle analysis, net working capital calculation, do we need additional financial resources, how does our customers and suppliers and inventories affect our working capital and liquidity?
What did we earn? Analysis and planning of income statement - operating income and expenses, EBITDA, financial expenses and taxes, net result
What do we have and what do we owe? Analysis and planning of balance sheet - fixed assets and current assets, long-term liabilities on loans, short-term liabilities on loans, short-term operating liabilities
How do we consider important aspects of investments or business venture? How much should we invest? What are our sources of funding? What do we get, what are the effects? Does the new venture fit into financial principles of "common sense"?
What risks are most significant to us and how to keep them best under control?
Why do we need management accounting? What are the processes in management accounting? Cost of goods sold? What costs can be included in the cost of inventory? Profit centers