At the end of this course, the participants should be able to:

• Transform financial and accounting concepts into tools that they can use in decision-making
• Preparing the operational budget and linking it to the strategic objectives of the establishment
• Apply capital budgeting techniques to enhance the decision making process
• Understand accounting and financial terms so that they can deal with them with confidence

Financial Statements

• Objectives of financial statements and reports
• Elements of financial statements
• Statement of financial position
• Income statement
• Cash flow statement

Analysis of Financial Statements

• External users of financial statements
• Internal users of financial statements
• Types of financial ratios
• Liquidity ratios.
• Leverage ratios.
• Activity ratios.
• Profitability ratios.
• Investment ratios.

Costs: Elements and Types

• Why does an enterprise need to determine the cost of products or services?
• Cost center.
• Cost elements.
• Prime cost.
• Conversion cost
• Costs and stages of production.

Break-even Point Analysis

• Cost definition
• Variable costs definition
•  Fixed costs definition
• Break-even point definition
• The equation method.
• Multiple products break-even point.
• Break-even point in value

Planning, Preparation and Execution of Budgets

• Budget principles
• The enterprise environment
• Financial forecasting
• Budget definition
• The budget as a planning tool
• The budget as a control tool
• General rules of the budget
• General indicators and guidelines
• Difficulties associated with budgets

Capital Expenditures and Investment Alternatives

• Capital planning areas
• Project evaluation methods.
• Time value of money.
• Payback period.
• Future value.
• Present value.
• Net present value.
• Internal rate of return.