Introduction

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 towards decision making.

Who Should Attend?

Training on financial management targets professionals in finance, accounting, business administration and any other professional who wants to become an efficient finance manager.

Duration

10 days

Course Objectives

By the end of this course the learners should 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

Course Outline

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

Financial Planning

• 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

Cost Management

• Understanding types of costs
• Elements of cost
• Cost Structures and Methods – costing services and products
• Procurement
• 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

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: trainings@stepupskillsconsultancy.com Tel: +254 722784250

Training Venue

The training will be held at our StepUp Skills Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with StepUp Skills certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: trainings@stepupskillsconsultancy.com Tel: +254 722784250

Terms of Payment: Unless otherwise agreed between the two parties payment of the course fee should be done 3 working days before commencement of the training so as to enable us to prepare better