Objectives:    

After the course,

·          Participants will have insight into:

§  The financial dependencies of various functions within the company

§  General and company-specific financial terminology

§  The critical factors in achieving financial results, including scheduling, cost control, timing, coordination and synchronisation, and the exchange of information

§  The company culture

·          Participants will be ready to think in terms of profit and shareholder value

·          Participants will be able to:

§  Draw up and read the P&L

§  Make a forecast

§  Explain and apply the company’s internal financial terminology

§  Explain what cost centres are

§  Distinguish between types of costs and explain their differences

§  Explain the company’s planning and update cycle

§  Read the income statements

§  Explain capital equipment, RCEs, depreciation, etc.

§  Interpret such matters as batch sizes, waste, and expiration dates in terms of  loss and profit

§  Turn back orders into financial consequences

§  Read ROI, DCF, etc. in terms of their importance for the company

§  Explain and defend purchasing rules

§  Conduct and interpret internal audits and their consequences

§  Recognise and understand ICBs

§  Understand the company’s annual report

§  Identify the interests of other departments and oblige them

§  Understand the problems of other departments and act accordingly

§  Think in terms of the company