Finance & Accounting Skills for. Project Managers. 17 th 19 th January 2016 JW Marriott Hotel, Deira Dubai - UAE

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1 Finance & Accounting Skills for Project Managers 17 th 19 th January 2016 JW Marriott Hotel, Deira Dubai - UAE

2 Course Overview What this course covers: The financial statements and the story they tell The Profit and loss and Balance sheet are the statements that outside organisations use to make judgements on the health and future of your business. Through practical activities and discussion you will see your organisation from the outside using numbers produced at the end of each year Understanding and managing profit Many people think that they have a profitable business and have set the right prices for their goods or service only to find at the end of the year other costs wipe it all out. You will work though exercises to learn how to make sure that a profit is made and at a level that is right for the business Putting together a cash budget Budgets are a tool to help management achieve financial targets. Budgeting is only useful if it is based on a combination of fact and intelligent estimation. You will learn how the relevant information is gathered and then incorporated in a cash budget How to integrated the different budgets into the Master Budget What break-even analysis means, its purpose and its use in profit decision making Costing and the difference on its approach The financial effect of every day decisions and individual actions using your experience and discussion the day will increase the awareness of the impact of their everyday decision making on the results of the organisation The Capital Investment Budget and how to prepare it Capital Investment Appraisal and techniques To REGISTER, Contact: How to build a full budget from assumptions to the preparation of Income Statement, Balance Sheet and Cash Flow Forecast. The importance of the assumptions on the budget preparation and the What if analysis. Vinay Kumar Project Director Middle East Phone: vinay@allonshacer.com

Through practical activities and discussion you will see your organisation from the outside using numbers produced at the end of each year Understanding and managing profit Many people think that

3 Course Felicitator: Juan Carlos Venegas AAIA, ICPA (Fellow), CFC, ICFS, CFIP. Juan Carlos Venegas is a highly experienced accountant, certified forensic investigation professional, counter- fraud specialist, and trainer; founder of Fiscal Accounts in 2003, and F&F Consulting in 2014, an accountancy firm specialised in accounting, taxation, fraud prevention, detection and investigations, and forensic accounting He advises clients on financial management, budgeting and strategy implementation, fraud prevention and detection and internal control. His clients are companies from different sector: construction, retail, multimedia, manufacturing, etc. He is also a consultant for the Global Bankers Institute. He is a Finance Trainer for different international organisations and their clients, including Oil & Gas companies and banks, and he has delivered training in the UK and abroad. Some of the areas of training are: Forensic Auditing, Fraud Prevention and Detection, Internal Auditing and Internal Controls, Money Laundering, Budgeting and Costing, Financial Management, IFRS, Procurement, Project Finance, Project Management, Banking, Risk Management, Cash Management and Treasury, Data Analysis, Financial Modelling. In 2013 he became the UK representative of the International Institute of Certified Forensic Investigation Professionals (IICFIP) and an accredited tuition centre in the UK and Europe. He is also an executive director and the treasurer of the Institute of Counter Fraud Specialists (ICFS) in the UK. He is the course author of How to become an Expert Witness, Anti-Money Laundering and Fraud and Corruption, a book on VAT for Small Businesses and a Level 4 Diploma in Personal and Business Tax. He is the accounting tutor for Oxford College and the author of courses in Accounting, Economics and Mathematics. In April 2014 he was also an international guess speaker at the Global Conference of the International Institute of Certified Forensic Investigation Professionals (IICFIP) in Nairobi (Kenya). His topics were: Professional Interviewing Techniques, Understanding Fraud and Corruption: What the numbers don t tell you and Data Analytics.He was also a speaker at the Annual Preventing Fraud and Corruption conference on Combating Fraud and Corruption in the Construction Industry organised by HAYA Water in Muscat (Oman) on 3-4 December 2014.

in 2014, an accountancy firm specialised in accounting, taxation, fraud prevention, detection and investigations, and forensic accounting He advises clients on financial management, budgeting and

4 Course Objectives Read and interpret their statutory accounts that include balance sheets and profit and loss accounts. Use balance sheet information to make better business decisions. Understand the difference between profit and cash flow. Use management ratios to analyse and improve business performance. Produce financial reports that can make a real difference to the running of their profit centre. Make costing and pricing decisions. Improve credit control and working capital issues. Understanding the importance of Capital Budget Expenditure and its impact in the organisation. Prepare a Capital Budget. Use of capital investment techniques to assess Capital Expenditure DAY 1 Introduction Welcome, Presentation of the course and the objective The role of accounting in business The need for accounting information, Users of accounting information Financial accounting and management accounting Communicate more effectively with their finance department. Control their own department more effectively. Understanding assumptions and different scenarios analysis. Preparation of a Budget and its process. Analysis of level of profit for decision making. Assessing costs for better pricing. The use of different costing approach to assess selling price. Why do project managers have to understand accounting reports. The Accounting equation Understanding Financial Statements Financial Statements from the accounting equation Assets, liabilities and Equity, Profit and Loss Statement (Income Statement) Balance Sheet. Cash Flow Statement, Importance of good credit control Work group/case sutdy: How to read and understand financial information

Produce financial reports that can make a real difference to the running of their profit centre. Make costing and pricing decisions. Improve credit control and working capital issues.

5 Monitoring financial performance Analysis and interpretation of financial statements Apply ratio analysis and percentage of financial statements Using ratios to improve performance, Advantages and limitations of ratio analysis Why organisations fail, Monitoring and taking prompt action Case study analysis of financial statements and performance and comment of findings DAY 2 Cash flow The role of cash in business, Management of working capital Profit v. Cash, Direct and indirect approaches to cash flow, preparing a cash flow statement Budget planning Budget and budgeting cycle, The budgeting process, Cash flow projections, Preparing a cash budget The importance of working capital, Case study preparing a cash budget The Budget Preparation process What If? Analysis Budget Creation: Steps. Using a full Case Study to complete The Budget Preparation process continued Indirect Costs, Unit Cost, Closing inventory balance, Cost of goods sold, Accounts receivable, Accounts payable The Budget Preparation process continued Closing balance of accounts receivable and accounts payable Cash Flow forecast, Calculate financing requirements Income Statement, Balance Sheet Profit control Sales Budget, Production Budget, Direct Materials, Direct Labour Break-even analysis, Margin of Safety, Price reduction, Price increase, Impact of price change in sales and gross profit

of cash in business, Management of working capital Profit v.

DAY 3 Understanding costing Know your costs and how they behave: Different type of costs: fixed costs, Variable costs direct costs, indirect costs W Conventional costing v absorption costing A

6 DAY 3 Understanding costing Know your costs and how they behave: Different type of costs: fixed costs, Variable costs direct costs, indirect costs W Conventional costing v absorption costing A further step in costing Techniques of Evaluating Capital Investments Net Present Value (NPV), Internal Rate of Return (IRR) Approaches to Adjusting for Risk, Adjustment for Inflation Work group: Assessing a project (capital investment) and decide whether to accept it or reject it. Who Should Attend? Using examples to understand: Marginal costing, Absorption costing Activity based costing (ABC) Project Director Project Managers Project In charge Project Leaders Preparing the Capital Investment Budget Understanding Capital Investment, Using the Capital Expenditure Budget All Project Professionals involved and interested to learn more about Finance & Accounting skills with in the Projects. Contents of the Capital Expenditure Budget Techniques of Evaluating Capital Investments Working through examples to understand: Prerequisites of an Acceptable Method of Calculation, Calculation of Cash Flow, Payback Method, Accounting Methods, Discounted Cash Flow Beyond Expertise

Assessing a project (capital investment) and decide whether to accept it or reject it. Who Should Attend?

Forensic Accounting and Fraud

Training in Portuguese Language Forensic Accounting and Fraud 16-18 September 2015 Maputo, Mozambique Supported by Organized by 1 CONTENTS Course Overview Supporting Organisation About the Course Facilitator