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Financial Analysis and Control Systems

This module provides an understanding of the basic accounting principles, as well as terminology and techniques to enable team leaders, supervisors and managers to interpret management accounting reports in the planning, control and measurement of performance and to participate in establishing and managing budgets.

Structured exercises and case studies provide application experience which is reinforced by a company based post-module assignment.

 

Objectives:

On completion, the participant will be able to:

  1. Understand the need to manage the financial performance of the organisation

  2. Understand the importance of managing profit, cash and resources and interpret financial reports

  3. Understand accounting principles at the operational level for manufacturing

  4. Contribute to the development and management of budgets

  5. Understand the significance and financial consequences of operational decisions

 

Contents:

  1. Financial criteria in the evaluation of business performance

  2. External and internal reporting requirements

  3. Basic financial statements - the Balance Sheet, Profit and Loss Accounts, and Cash Flow Statements

  4. Management accounting : internal accounting and budgeting processes

  5. Cost / Volume / Profit relationships

  6. Budgets for short-term planning and control of operations

  7. Standard manufacturing cost systems and activity-based cost systems

  8. The budgeting process

 

Duration:

2.5 Days

 

This module is approved by BAE SYSTEMS as a Manufacturing Developing You (MDY) programme “Core Module”.



Revised 2/6/2006