1. A. Financial Management for Projects & Contracts

With increasing competition and focus on corporate earnings, project and contract managers are held accountable, not just for achieving technical and scheduling goals, but also for meeting profitability targets and other cost related measures.

This training session explores the financial metrics that are commonly used and also examines the less frequently thought of financial impact of typical operating decisions and actions. Building on your competencies, you will examine the inner mechanics of how finance and accounting can impact your project.

By attending this programme, delegates will understand:

  • Key elements of finance and accounting relevant to good project and contract management
  • Time value of money considerations and the importance of cash
  • Evaluation criteria for Requests for Authorisation (RFA)
  • Best practices to manage contact pricing
  • Link risk to costing and performance evaluation

This programme provides a user-friendly environment to develop the knowledge and techniques of finance related to project and contract management that are valuable for:

  • Project Professionals
  • Project Managers
  • Contract Professionals
  • Commercial Executives
  • Project and Contract Personnel who need to establish a firm understanding of finance would find this programme extremely beneficial

This programme aims to enable participants to achieve the following objectives: 

  • Communicate more effectively with accounting and financial personnel
  • Read, understand, and analyse accounting and financial data
  • Expand work in project scheduling and cost control to encompass additional financial metrics and tools
  • Minimise project financial risk
  • Develop and apply tools for comparing project financial returns
  • Understand how finance often drives organisational decisions and evaluations of project performance

 

  1. B. Budgeting & Cost Control

All business decision making involves analysing situations and assessing alternatives, risks and benefits. This programme offers an opportunity to acquire and then deploy new skills and ideas to achieve improved financial operations and strategies. The knowledge acquired will enhance the budget process and control processes through a variety of strategies and techniques that will provide new insights to how financial performance can be enhanced.  In this programme you will participate in many aspects of modern thinking:

  • Budgets and Models as a key element of management and financial strategy
  • The analysis of opportunities, risks and rewards in the context of Capital Projects
  • Controlling costs by analysis, modelling, KPI’s and review of the cost drivers
  • Develop a broader view in the context of the enterprise’s objectives and constraints

By participation in this course, participants whose background is not in the financial sector will gain an understanding of both the strategic and the technical aspects of budgeting and cost control involving both the financial and the operational opportunities for performance improvement

  • At the conclusion of the course all delegates will gain a strong understanding of the practicalities; techniques and strategies of budgeting and cost control that will both enhance their effectiveness and contribution in their current role and their career opportunities based on the skills and insights acquired
  • Understand the importance of a well-defined budget process and create budgets relevant to your organisation
  • Acquire costing and budgeting terminology and techniques
  • Master methods for risk, payback and cost-benefit analysis
  • Learn how to integrate profit, cash and balance sheet plans and budgets

 

C        Managing the Cash Cycle:

          Accounts Receivable & Payable Best Practices

This programme provide a leading edge forum for you to significantly improve your working capital management skills. You will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon your return to work.

By attending this event, delegates will understand:

  • The importance of credit to the company and the economy
  • The “cost of credit” and its impact on company profitability
  • Practical steps that reduce bad debt losses and “uncollectible” debtors
  • How to use different tools and techniques to maximize cash collection effort
  • How to effectively manage cash and working capital to reduce costs and improve cash flow
  • How leading companies from across the globe are achieving best practice in Accounts Receivable
  • The importance of the accounts payable function with regard to its links with the supply chain and cash flow
  • The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the general ledger
  • How to effectively manage cash and working capital to reduce costs and improve cash flow
  • The impact of risk and uncertainty on the business and its impact on accounts payable and cash flow
  • How leading companies from across the globe are achieving best practice in Accounts Payable

This programme is also ideal for those wishing to develop their understanding of how Working Capital efficiencies can make a significant improvement to profitability or you may already be employed in any of these functions within the business.

  • Work effectively with the fundamentals of accounts payable, accounts receivable, financial accounting and the supply chain
  • Understand and apply the fundamentals of effective transactional management systems
  • Review and comment on payment methods and cash management
  • Understand the need to incorporate risk and uncertainty into transactional processing and cashflow management
  • Identify best practice across all industries by examining case studies from across the globe

 

  1. E. International Public Sector Accounting Standards (IPSAS)

IPSAS is becoming and will become the World standard for Public Sector entities. IFRS having replaced IAS is now becoming the world standard, but in many ways was not specific enough to the needs of the Public Sector.

Designed for finance professionals in the public sector the course will benefit anyone who requires an understanding of international financial reporting standards within the public sector. It is also suitable for:

  • Accountants and finance staff at all levels involved in the preparation of financial statements
  • IFRS and IPSAS implementation and maintenance teams
  • Internal auditors and consultants dealing with financial reporting

This programme will help our clients to assist not only in meeting the challenges of introducing IPSAS, but also to secure the benefits of improved financial management to help secure organisational objectives and goals of each public service organisation. It will also compare IFRS against IPSAS so that the participants can see the main differences.  The key topics covered are:

  • Context of IFRSs and IPSASs
  • Financial statement presentation
  • Funding, revenue and expenditure
  • Asset and liability reporting
  • Entity consolidation and combination
  • Disclosure and other matters
  • Background to IPSAS
  • The Technical Bases
  • Links and implications to and for broader strategies: Financial Management, Taxation, Asset Management, Governance and accountability
  • The Standards
  • Financial reporting
  • Satisfying donor & stakeholder requirements
  • Implications for Internal and External Audit
  • Impact on financial processes and systems
  • Implementation
  • How to formulate a documented action plan
  • How to manage substantial financial resources
  • How to develop skills to aid implementation, capacity development, benefits realisation and risk management plans
  • How to provide wider training and how to contribute to the strategic consequences of IPSAS
  • How to implement
  • How to reduce risk of qualified accounts

 

  1. F. Advanced Budgeting & Forecasting

Pre-Requisite

  • Participants should have a basic understanding of financial statements

Designed for

  • All professionals responsible for budget preparation and management reporting

This programme provides an overview of the essential tools and the skills to build world class standards into your planning, budgeting, performance measurement & reporting system, looking at new and best practice techniques, explain how they complement the traditional financial planning tools, and introducing new concepts for measuring and reporting performance to enhance shareholder wealth creation or provide value for money for Stakeholders. Important elements of this programme include:

  • Making your budgeting process more efficient & effective
  • Understanding how to motivate managers to “buy into” to the budget process in an honest and effective way
  • Using case studies and illustrations from real companies to help delegates understand how to apply different planning, forecasting and analysis techniques
  • How to implement advanced planning and control techniques into your budgeting process
  • Know how to integrate the budgeting process with the development of the company’s long-term strategic vision
  • Know how to provide a decision support structure that provides timely and useful information to decision makers
  • Successfully build an integrated planning, budgeting and reporting process
  • Know how to forecast costs and revenues with greater confidence
  • Apply management tools to the budgeting process that contribute to strategic goals
  • Effectively manage the budgeting process
  • Identify key performance indicators for effective and focused decision making
  • Develop ways to increase profitability and performance through stream lined planning and reporting

 

  1. Business and Financial Modelling

This comprehensive programme takes you through the modelling process from start to finish. It provides practical examples and applications of modelling for both strategic and tactical executives.

Participants will develop the following competencies:

  • Developing models for practical application
  • Adopting a ‘what if?’ approach to model development
  • The ability to turn raw data into models which support business decisions
  • Translate specific business challenges into logically structured mathematical models
  • Learn how to use powerful Excel® tools such as Solver and Goal Seek
  • Draw more realistic conclusions from the results of your models
  • Drive better performance through improved ‘What if?’ analyses
  • Simulate the potential return on new capital investments
  • Design budget models for departments, divisions, processes, or other entities

 

  1. Budgeting, Planning & Management Reporting

Budgeting lies at the heart of business management, yet businesses often encounter planning and financial difficulties as a result of either inadequate planning, lack of understanding of the business, or errors within the compilation of the budgets. Ineffective management reports heighten the challenge in collating inputs to the budget, and use of budgeted information.

Designed for

  • Professionals responsible for budget preparation and management reporting
  • Anyone with direct planning and budgeting responsibility, as well as advisors, accountants and business consultants

This programme takes a practical approach to budgeting, planning and management reporting for the organisation and considers the following:

  • The planning process and how to improve it
  • The compilation of budgets – who needs to be involved and why;
  • How to identify potential problems arising and suggests actions which can be taken
  • Ways of improving financial control using effective management reporting
  • Implement advanced planning and control techniques into your budgeting process
  • Integrate the budgeting process with the development of the company’s long-term strategic vision
  • Successfully build an integrated planning, budgeting and reporting process
  • Apply management tools to the budgeting process that contribute to strategic goals
  • Identify key performance indicators for effective and focused decision making
  • Increase profitability and performance through stream lined planning and reporting

Courses