Non-specialist participants will learn how to correctly and effectively handle various financial data, providing them with the ability to make appropriate financial decisions. This will be achieved through understanding different types of financial statements, how to manage them, budget management, and comprehending profit and loss indicators for effective evaluation of the financial performance of the organization they work for.

By the end of this course, participants will be able to:

            Identify the four key financial statements: the balance sheet, income statement, cash flow statement, and changes in equity, in addition to key financial terms commonly used in organizations, such as profit and profit margin.

            Analyze the financial situation of organizations and departments and use financial information for management and evaluation.

            Prepare an operational budget and link it to the strategic objectives of the organization.

Course Curriculum

3 Lectures
Module 1 - Key Financial Data
  • Understanding the Accounting Cycle
  • The Five Main Financial Accounts
  • Income Statement: A Measure of Company Performance
  • Accrual Accounting vs. Cash Accounting
  • Balance Sheet: A Snapshot of the Current Position
  • Statement of Equity
  • Cash Flow Statement: Cash Is King
  • The Financial Data Cycle
  • Responsibilities of Internal and External Auditors
Module 2 - Essential Components of Financial Data Analysis
  • Trend Analysis and Horizontal Analysis
  • Vertical Analysis: Common-Size Financial Data
  • Liquidity Analysis
  • Solvency Ratio
  • Activity and Investment Ratios
  • Profitability Analysis
Module 3 - Methods and Process of Developing an Operating Budget
  • What Is an Operating Budget?
  • Steps in Creating an Operating Budget
  • Key Budgeting Components
  • Sales Forecasts
  • Budgeting Approaches
  • Incremental Budgeting
  • Zero-Based Budgeting
  • Monitoring and Adjusting the Budget

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