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Strategic Financial Management

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Strategic Management

Total Learning Hours: 24 Hours
Assessment: Presentation/ Brief Assignment

Attendees include:

  • Non-finance professionals
  • VAT & Tax Consultants
  • Bankers
  • Social media influencers
  • Online business owners
  • Business consultants
  • Accountants

Course Objectives:

The aim of course is to enable learners to apply financial principles relevant to management in an organisational context, including analytical techniques and theories/models of management accounting, evaluation of budgetary processes, recommending funding sources and appraising investment options.

Indicative Learning Model:

Introduction to financial and managerial accounting its purposes and financial strategy formulation.

Cost systems: Cost classifications in terms of object; function, product/service and behaviour; opportunity cost, recording and analysing costs; job costing; batch costing; process costing; contract costing; standard costing; variance calculations; variance analysis and management by exception.

Costing methods: absorption, marginal costing, activitybased costing (ABC); use in calculating costs and pricing policy and their relationship to cost controls and pricing.

Cost control of systems: cost centre; profit centres; investment centres; accountable management; planning and control methods.

Financial statements: estimates and assumptions relating to the profit and loss account; balance sheet and cash flow statement.

Financial ratios analysis, interpretation, decisions and limitations: employment of financial ratios internally and externally; financial profiles of organisations; calculation of key ratios reflecting business liquidity; efficiency and profitability.

Budgets: types; flexible and fixed budgets; zero-based budgeting, budgeting process from subsidiary/functional to master budget; relationship of budget to cost and quality control, resource utilisation and profitability.

Budgets monitoring and evaluations: budgeted and actual figures, accounting for and investigating different kind of variances in budgetary controls; corrective action; human behavioural issues relating to budgeting.

Sources of financial resources; types of funds: short term and long terms, sourcing funds internally and externally; venture capitalists, leverages; risk, cost and control issues with types of funding; techniques of selecting appropriate sources of funds for different projects – comparison of costs, risk and controls.

Learning Outcome:

  • Be able to apply the tools and techniques of cost accounting.
  • Be able to critically analyse the financial performance of businesses.
  • Be able to evaluate the budgetary processes of organisations.
  • Be able to critically appraise investment options.

Mode of Delivery: Blended/ Virtual

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