1. MODULE OBJECTIVES:
- Understand the definitions, concepts and principles of finance, cash, and importance of cash as an organizational resource and explain the difference between cash and ‘profits’.
- Understand the purpose of financial reporting statements.
- Use financial measures to evaluate performance.
- Understand different types of cost and associated cost behaviors and apply costing techniques in managerial decision-making.
- Understand the budgeting process; the behavioral implications of budgeting and how budgeting can help managers to achieve their objectives.
- Use financial techniques, such as budgeting, in planning, controlling and assessing performance.
2. MODULE BRIEF DESCRIPTION:
This Module is designed to help managers understand how the decisions they make will affect the financial performance of their organization. The materials and activities are designed to help you demystify the jargon of finance and to understand and use a range of different financial techniques to improve your abilities as a manager. You will look at the different financial reporting statements and financial measures to improve performance. You will learn about different mechanisms of costing and financial methods such as budgeting to assist in planning and controlling performance. Throughout this module you will be asked to relate your studies to your own work context.
3. MODULE CONTENT:
Definitions, concepts and principles
Budget management: records, expenditure procedures, financial control
Financial Laws and regulation framework
Measuring financial performance: financial ratios
Components of financial statements
Cost management: Techniques and approaches
Financial and accounting assertions
Cash management and budgeting: cash forecasts
4. TARGET AUDIENCE:
Chief Budget managers, Legal advisors, Human resources managers, cashiers, revenue collection officers, accountants, Internal Auditors, logistics officers, Directors of units, Division managers, Directors of corporate services, Members of boards of Directors, members of Districts council, etc….
5. DELIVERY TIME AND VENUE:
Visit www.rmi.rw for the detailed Training Calendar. The venue and time may be adjusted according to the trainees' request, terms and conditions apply.