Finance for non-financial managers

Who are the intended participants?

• All who encounter finances in their job but do not work directly with them

Programme

• Overview of basic accounting principles:
  • principle of duality and correlation of accounts
  • balance sheet principle
  • accrual principle
  • differences between advances and accruals
  • revenue recognition timing principle
  • difference between income and revenue, expense and expenditure
  • brief introduction to financial statements: balance sheet, income statement, movement in equity, cash flow
• Practical examples to understand the purpose of individual items on the balance sheet and income statement and the manipulation of financial statements by individual items on the balance sheet and income statement
• Interrelationships between the components of the financial statements (financial statements vs. notes to the financial statements)
• Structure of the balance sheet and income statement (CAS and IFRS – brief comparison):
  • revenues and costs – gross margin, turnover, EBIT, EBITDA, result for the accounting period
  • assets (fixed assets/total assets), IFRS vs. CAS difference – IFRS 16
  • financial assets (definitions, practical examples)
  • receivables (calculation of allowance – principles of provisioning: (age structure, specific, collateralisation of receivables), liquidity, turnaround time of receivables
  • inventories – example of accounting for purchase and sale of inventories, change in inventories or capitalisation of own production: principle and subsequent sale – accounting treatment (definitions, examples)
  • money and the bank (definition, examples)
  • equity (definitions, examples)
  • reserves (definitions, examples)
  • liabilities (definitions, examples)
  • liquidity, leverage, profitability ratios (definitions, examples)

Benefits

You will:

• gain insight into the basic principles of accounting
• understand the basics of financial reporting
• learn about the links between the components of the financial statements
• combine theoretical knowledge with practical examples