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Beacon FinTrain

Provides an array of professional business and financial training services that stem from improving a corporate's treasury workflow —all the way to efficient, finance training programs.

Course Overview

This program is a very important, comprehensive, and essentially program designed to develop the skills of management accounting, costing, budgeting, and finance transformation. Also, using the best practices of Finance Business Partnering ( FBP ) to be an active learning approach and techniques by using the business best practice. This will help you to improve your organization's supply chain finance process, eliminate the business process waste, run your process faster, cheaper, and leaner. This will support your shoer & long term goals targeting your customer's satisfaction, as after learning these methods they will help to have the right business decision-making able you to build the right costing process to achieve your organizational objectives. Also, able to maximize your organization's resource utilization through the allocation of the right resources, and controlling.
During the workshop period, you will learn what is the accounting cycle, costing, cost analysis concepts, and how to build a budget and cost control process from scratch giving you the best practices guidance to have an integrated and dynamic business model improve the supply chain finance process, and supporting the decision-making. Also, we will highlight the concept of the peers and benchmarking analysis to understand the organization's current positions in the industry.
During the workshop period, you will learn time value of money, compounding returns, the weighted average cost of capital (WACC), and the rationale of investments fundamental, risk and return.
Using the best practice of costing, cost analysis, budgeting, Finance Business Partnering ( FBP ), and supply chain finance process will improve your ability to build, review, or analyses your business drivers at all levels. Give you the tools you need to have a robust and transparent process.

Learning Outcome

Recognize key concepts and principles of management accounting.

Introduce the fundamentals of cost and cost analysis.

Develop the skills of your team to be a Finance Business Partnering (FBP).

Develop the skills of your team to improve the supply chain finance process

Learn from professional and leading developments in transaction modeling

This course explores and share knowledge between participants for the planning, control, and budgeting cycle.

Course Outline

  • The accounting system
  • The income statement
  • The balance sheet
  • The cash flow statement

  • Introduction to Accounting Principles
  • Basic Accounting Principles and Guidelines
  • Accounts integration.

  • Terms Similar to Financial Statement Analysis
  • Types of Financial Statement Analysis
  • Vertical & Horizontal analysis
  • Analyzing cash flow groups
  • Benchmarking & peers concepts
  • Common size analysis

  • Costing Introduction and Definition
  • Cost Classification.
  • Understanding cost behaviors
  • Direct and indirect costs.

  • Variable & Absorption Costing
  • Fixed and Variable Overhead Cost
  • Actual, Normal, and Standard Costing
  • Units in Process Costing
  • Manufacturing vs. non-manufacturing costs
  • Period Vs. Product costs: inventory evaluation and control.

  • Product Cost Management
  • Product Development
  • Price, Product Costs, Development Costs & Volume relation
  • Job Order And Process Costing
  • Recurring & Nonrecurring Costs
  • Benefits of using manufacturing and supplier cost data.

  • Overhead, Fixed, and Variable Overhead Cost Allocation Rates
  • Activity-Based Costing (ABC), and Overhead
  • Plant, manufacturing sites, and factories overhead accounts

  • Identifying the fixed costs and variable costs
  • Computing breakeven point in units & Computing the breakeven point in sales
  • Assumptions of CVP analysis
  • Using CVP in budgeting decisions

  • Role of Finance in cost control
  • Financial vs. Managerial accounting (decision making)
  • Understand your processes: integrating financial and non-financial aspects
  • Cost concepts and terminology (Cost hierarchy & Cost drivers)
  • Fixed Vs Variable costs: The Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Manufacturing vs. non-manufacturing costs
  • Period Vs. Product costs: inventory evaluation and control
  • Indirect (OH) Vs. Direct costs: Traditional Cost Allocations Systems Vs. Activity-Based Costing (ABC)
  • Linking resources, activities and management
  • Introducing Activity-Based Budgeting (ABB) and Management (ABM)
  • Budget as a control tool & the role of cost management in the business strategy
  • Cost management and motivation (Maintain strategic cost control)
  • Embedding cost control in the business (The control process & Balanced Scorecard)
  • Characteristics of an effective control system (Responsibility reporting)
  • Variance analysis: identifying the components of variance (taking the corrective action).

  • Understand the business process and redesign for low Cost
  • Cost Reduction (Automation and Integration)
  • Remove Non-Value-Added Activities
  • Maximizing Process Capability to Minimizing the Cost.

  • Cost Tracking and Performance Monitoring
  • Direct Material Variance.
  • Direct Labor Variance.
  • Factory Overhead Variance.
  • Variance analysis: identifying the components of variance (taking the corrective action)
  • Action Plan to Close the Gap.

  • Cost Definitions for purposes of Decision Making Income statement format for internal reporting and external reporting.
  • Business decision make (Buy, sales, disinvestment, Obsolete inventory, capacity constraints, and product mix)
  • Pricing Strategies: Cost-Based Pricing, Competitive Pricing, Value-Based Pricing, and Experience curve-Based Pricing
  • Set the target Cost From the Target Price ( Supply Chain Margins, Distribution Costs, Warranty Costs, Corporate Allocations & Profit )
  • Allocating & Tracking Target Costs
  • Financial vs. Managerial accounting (decision making).

  • The meaning of capital structure
  • Capital structure analysis
  • Cost of debt & cost of equity
  • The risk-free rate, the equity risk premium, and beta
  • Unlevering and re-levering the beta
  • Calculating WACC for the case company

  • Simple versus compound interest
  • Identifying and analyzing cash flows
  • The discount rate: using cost of capital (WACC)
  • Net Present Value (NPV)
  • Internal Rate of Return (IRR)
  • Profitability Index (PI)
  • Pay-Back Period (PBP)
  • Accounting Rate of Return (ARR)
  • Sensitivity and risk analysis.

Who Should Attend

Professionals who need to build, modify, and understand budgeting, cost, and management accounting.=Professionals who need to build, modify, and understand Finance Business Partnering ( FBP )=Professionals who need to build, modify, and improve the supply chain finance process=Professionals with some costing experience who have the responsibility of developing or maintaining budgeting, cost, and management accounting.=Corporate finance and structured finance professionals who want to increase the depth and breadth of their knowledge=Cost Accountants, Management Accountants, Financial reporting accountants, Budgeting managers, Financial Managers who need to develop the skills to build or interpret integrated Excel-based models.

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