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Financial Decision Making for SMEs

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Course Synopsis

No matter what the size of your organisation, business decisions are guided, more often than not, by the effect the decision will have on the organisation’s financial position. Effective decision makers must therefore know and understand the basic finance and accounting principles to enable sound decision making. By adopting a very practical, hands-on approach this course introduces several real life case studies to illustrate to you the importance of a sound financial strategy for any small or medium enterprise.

Typical Course Outline

  • Determining strategic direction
  • Assessing the external environment
  • Evaluating internal capabilities
  • Preparing financial statements for strategic decisions
  • Financial statements
  • Assets and liabilities
  • Interpreting financial information and taking action
  • The limitations of the financial statements
  • How to select relevant information for decision-making
  • Managerial Accounting for decision-making
  • Budgeting
  • Activity-based costing
  • Cost-volume-profit analysis
  • Operational efficiency
  • Performance evaluation systems
  • Communicating and sharing knowledge
  • Developing systems as you develop your business

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