Concepts, Terms and Practices of Finance & Accounting for Informed SDLC Professionals. Understand where your Project fits into your Organization and how it supports your Organization as a whole.
Minimize Risk in Financial Decision Making!
As an experienced project manager, you're faced with making tough decisions - many involving money that ultimately affects the bottom line of your organization. Without a sound understanding of finance and accounting principles, it can be risky. What is the purpose of this project? How do you make sense of the constraints under which you are asked to operate? When are the assumptions of the project no longer valid? How should a project manager make sense of conflicting priorities? When should a project be terminated? A lot may ride on your ability to understand the language and logic of accounting and finance. This two day program is offered to give you the confidence to understand just these sorts of issues.
The Financial Concepts and Principles, Step By Step, in Easy to Understand Terms
This workshop will demystify terms and financial practices that are most used in business today. You will examine and experience in detail the financial information and practices you need, presented in easy to understand terms and concepts. Step by step, you will be exposed to the framework of the finance and accounting principles that make a organization run, measure results and make profit. You'll also know how to "speak the language" of your Finance and Accounting staff and more clearly plan your financial goals. After two days, you can confidently make better informed financial decisions that will affect your project, your organization, and your career.
A Clear Understanding of Financial Resources and Financial Goals
Gain a clear understanding of how each department or resource within your firm operates from a financial standpoint. Understand how your project was evaluated for selection based upon characteristics of risk and return. From balance sheets and financial statements to annual reports you'll examine and interpret with ease. You'll understand the terminology of finance, how to read the major accounting reports, and how to put everything into perspective. You'll know what questions you need to be asking and the financial objectives and financial results you need to achieve.
Key skills you can begin using immediately:
1.Understand the fundamental concepts and terms of corporate finance
2.Better understand the financial risks and benefits of your financial decision-making
3.Utilize all of the important sources of financial information
4.Better determine financial weaknesses and opportunities for growth and profit
5.Understand the complete accounting life cycle and how each part affects your department or division
6.Know the intricacies of a Master Budget - how department budgets interact
7.Know how financial ratios are key to an Annual Report in determining liquidity, solvency, asset utilization and profitability
8.Discover how the time value of money influences project selection, capital budgeting, stock and bond valuation and valuation models
9.Learn to quickly analyze financial forecasting models to determine profit and breakeven production and sales levels
10.Understand the use of trade credit in financing the cash needs of your department
11.Monitor your firm's organizational performance through the financial statement analysis of annual reports
12.Gain a thorough understanding of the complete accounting life cycle income statement, statement of shareholders equity and the balance sheet
13.Develop better financial tracking skills to help you achieve financial objectives
14.Understand how industry and Governmental Reporting standards affect financial reporting
15.Quickly interpret and understand the terminology of any Financial Statement
16.Know what questions you should be asking of the Accounting and Finance Professionals in your organization
17.Understand business valuation techniques and the concepts and mathematics involved
18.Know the Finance and Accounting principles that make a business run
19.Be able to see your firm the way an investor would view it, from a financial perspective
20.Understand the financial components of project reporting
Anyone involved with the selection, management, or execution of a project will benefit from this course, including:
- Project Managers
- Business Analysts
- Program Managers
- Technical Leads
- Systems Architects
- Quality Assurance