Financial management is one of the most important aspects of business. It involves the strategic planning, organizing, directing, and controlling of financial undertakings in an organization. It also includes applying management principles to the financial assets of an organization, while also playing an important part in fiscal management.
This training on financial management is aimed at equipping the participants with the knowledge and skills to apply financial management tools and techniques in business toward decision-making.
Training on financial management targets professionals in finance, accounting, business administration and any other professional who wants to become an efficient finance manager.
By the end of this training the participants will be able to:
- Understand financial planning and budgeting.
- Understand the fundamentals of financial accounting.
- Analyze and interpret financial reports.
- Effectively manage cost and cash flow
- Implement effective internal control systems.
- Make informed and accurate financial decisions.
- Apply strategic financial management to add value to the budget execution process.
- Undertake cost analysis and apply strategic management and costing principles to support improved decision making.
Online 14 Days
Classroom-based 10 Days
Introduction to Financial Management
- Scope of Financial Management
- Objectives of Financial Management
- Functions of a finance manager
- Importance of finance management
- Organization of finance capitals
- Working capital management
- Resource mobilization
- Evaluation of financing options
- Defining financial objectives and goals
- Gathering and analysis financial information
- Developing a financial plan
- Implementation and review of the financial planning.
Budgeting in Financial Management
- Understanding the budgeting process
- Functions and types of budgets
- Budget development
- Budget management
- Budget regulations/requirements
Cash Flow Management
- Cash flow forecasting
- Consolidated budgets and budgeting for core costs
- Elements of cash flow
- Cash vs profit
- Managing cash
- Bank accounts management
- Understanding types of costs
- Elements of cost
- Cost Structures and Methods – costing services and products
- Cost allocations
Financial and Management Reporting
- Importance of financial reporting
- Understanding elements of financial statements
- Financial statements; income statement, balance sheet, cash flow statement
- Account management
Measuring Finance Performance
- Introduction to financial Analysis
- Steps in financial analysis
- Financial ratios
- Budget monitoring
- Cash flow monitoring
Internal Control Systems in Financial Management
- Organization financial management policies
- Role of audit
- Financial fraud
- Financial spending cross approvals
- Risk management in project financial management
Integrating Management Reporting
- Identifying organizational key success factors
- Measuring economy, efficiency, and effectiveness
- Developing Key Performance Indicators
- Use of balanced scorecards
This training on financial management is delivered by our seasoned trainers who have vast experience as expert professionals in the field of financial management. The course is taught through a mix of practical activities, theory, group work and case studies.
Training manuals and additional reference materials are provided to the participants.
Upon successful completion of this course, participants will be issued with a certificate on financial management.
We can also do this as tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations and tailor-made needs.