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Financial statements are the report card of a business. A component of the long-term success of a company depends on managements understanding of financial fundamentals and the ability to use financial statements and supplemental information to analyze and direct the course of the business.

Various financial tools, provides management with information about the strengths and weaknesses of the business and helps analyze the success or failure of management decisions. Management of any business requires this flow of information to make informed, intelligent decisions affecting the success or failure of its operations.

Ultimately, if you can visualize the underlying realities of this essentially quantitative information and before you start crunching numbers, have an understanding of where you want to go (ie. an end in mind) you will achieve great things!

With these benefits in mind, the training provided is an interactive workshop format dealing with real life examples, methods, ideas and techniques. You will leave the workshops having a general knowledge of:

  • The purpose of financials and what they are really telling you.
  • How to read and understand the numbers.
  • The purpose of a cost sheet and how to analyze it.
  • What the financial numbers in a proposal mean.
  • An understanding of contract and performance management principles.
  • What is a material ordering process.
  • Understanding of business case building and analysis.

By having a clearer understanding of the financials, the company’s mission, vision and goals the entire team will be pulling in the same direction – right towards success!

Participants will gain the following 7 practical proficiencies:

Module 1 – Purpose Of Financials And What Are They Really Telling You

  • Explanation of financial awareness.
  • What are Financial Statements and what’s the story behind the numbers.
  • How are they relevant to what your needs are.
  • Understanding that statements are providing historic information and how to use forward thought (thinking) as to how the numbers can reflect the position/circumstance they are ultimately looking for (vision).

Module 2 – How To Read And Understand The Numbers

  • Basic understanding of Balance Sheet, P&L Statement, Cash Flow Statement, Notes to financials.
  • Worksheets with examples and hands on exercises/workshops.
  • Creation of pro-forma statements.
  • Analysis exercises with different scenarios.
  • Basic understanding of key financial ratios and risk assessment.

Module 3 – What Is The Purpose Of A Cost Sheet And How To Analyze It

  • Understanding of what a cost sheet is and it’s purpose .
  • How to create a cost sheet.
  • Benefits of a cost sheet for managerial discussion.
  • How to analyze a cost sheet and create different scenarios to reflect different perspectives of current circumstances and circumstances management wishes to create.

Module 4 – Proposals – What Do The Financial Numbers Mean?

  • Basic understanding of how to review and analyze various proposals.
  • Understanding ROI and use it as a part of the analysis.
  • Analyzing proposals using the information learned in modules 1 and 2.
  • Walk through various examples/workshops.

Module 5 – Contract And Performance Management Principles

  • Understanding of what contract performance management is.
  • Provide skills to be able to identify signals of poor performance and non-compliant activities by parties against contract.
  • Understanding of various KPI’s.

Module 6 – What Is A Materials Ordering Process

  • Understanding of M.O.P. roles and procedures.
  • Understanding the cycle of order processing to fit your specific operations for a customized fit between the process and the product(s) produced.
  • Ability to create efficiencies by coast cutting in the right areas and increasing the bottom line.

Module 7 – Business Case Building And Analysis Toolbox

  • Basic understanding of what makes a good business case.
  • Address all three of the following components.
  • Financial: The fundamental reason companies perform business cases, is to quantify the business impact and develop a financial forecast for the project.
  • Education: New products, services or solutions provide the company with fresh opportunities to refine business processes. The business case exercise provides an excellent opportunity to introduce these new elements to the business.
  • Change management: Changes to businesses always involve adjustments of three core elements: people, processes, and technologies. Basic human nature resists change. Thus, adoption of new processes is sub-optimized without appropriate change management engineering. The business case exercise becomes the first opportunity to introduce change management into the process.
  • Discuss best practices when preparing a business case project.

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