Measuring, Monitoring and Optimizing Performance
The training course is part of the series “Finance in Business – Case study workshops for Managers in Business – Modularised Programme“.
The orientation of the course is more towards management accounting than just accounting — the audience will acquire skills in participating in key strategic decisions like costing and pricing as well as in any efforts to improve the performance of the organization.
Advanced topics like Activity Based Budgeting, Relevant Costing, Variance Analysis and Pricing Methods will also be introduced through case studies.
The entire course is case–study based. Real-life case studies from the Harvard Business School and Yonsei University will be used during the course. This module includes a case study from Yonsei University: Assessing a service provider by applying Activity Based Costing.
Key features of this course:
- This is an intensive, interactive workshop based on case studies
- Although you can attend this part of the course without any prior knowledge of finance, we recommend attending Part 1 of the course before registering for Module 2
This training module is addressed to participants without formal education in finance, who, because of their day-to-day needs, are involved in a financial process and are required to identify and interpret information from within the organization and also participate in the monitoring and controlling process of the firm.
- Owners of companies
- Managers of finance or non-finance functions
- Internal and External Auditors
- All professionals wishing to broaden and deepen their skills in finance
After completing this training module, you will be able to:
- Understand how business decisions should be made based on relevant information and calculations. Identification of the right information is essential.
- Optimize the use of Working Capital.
- Analyze diversions from the plan and take corrective action in both the short-term and the long-term
- Participate in the improvement of the performance of your organization.
- Budgeting and Control: Purposes; systems and types of budgets; preparation – including cash forecasts and expected values; (exercises)
- Costing and Management Accounting: Fixed and Flexible Budgets; Activity Based Costing (ABC) versus traditional methods of costing – (exercises and case studies)
- Decision-making Techniques – Relevant/Economic Cost Analysis; Identifying and calculating Relevant Costs from given data and for specific situations in the decision-making process; Application of the concept of Opportunity Costs; Pricing Decisions; Dealing with Risk and Uncertainty (case studies)
- Variance Analysis – From Standard Costing to Variances; Sales and Quantity Variances; Planning and Operating Variances; Performance Analysis (case studies)
- Cost-Volume Analysis: Calculation and interpretation of the Break-Even Point and the Margin of safety; Relevance to the operational as well as financial gearing of the entity; The importance of Contribution in decision-making (case studies)
Marinos Athanassiou - Marinos is the founder of the EY Academy of Business and has been a trainer since 1994. Marinos' training competences stem from both his professional experience and the knowledge he has gained from many years of delivering training courses.
