The objectives of the course are to raise the level of financial awareness of participants and enable them to use the information provided to make smart strategic, short-term or long-term decisions in managing their businesses.

Business owners, directors, managers or anyone who uses financial information in the course of their work can take part at this course. Prior knowledge of accounting/finance is not required.

Course contents:

What is an economic entity

Definition of an economic entity.

Purpose of existence of an economic entity.

Various forms of economic entities.

How to read the financial reports

Purpose of the financial statements

Accounting principles

Understanding and interpreting financial statements

Key financial ratios

Businesses performance measurement

Accounting measures.

Triple bottom line (TBL)

Economic value

Balanced scorecard (BSC)

Cost management

Cost concepts

Cost statements

Cost optimization

Cost, volume and profit analysis

Planning and budgeting

Planning concepts.

Budgeting concepts

Capital expenditure (Capex) budgeting

Payback period

Accounting average of return (AAR)

Internal rate of return (IRR)

Net present value (NPV)