Finance for the Non-Financial (2)

31st May 2024 08:30 - 10:00 Introductory

Navigating Financial Statements, Budgeting, and Analysis

The second session will delve into practical aspects, equipping participants with the skills to interpret and utilise financial statements effectively. Additionally, we will study essential budgeting techniques and analytical tools to empower participants in making informed decisions that align with organisational objectives.

Key Topics:
1. Understanding the Income Statement

  • Understanding revenue, expenses, and profitability.
  • Identifying key performance indicators reflected in the income statement.

2. Understanding the Statement of Financial Position

  • Analysing assets, liabilities, and equity.
  • Recognising the financial health of the organisation through balance sheet insights.

3. Understanding the Cash Flow Statements

  • Understanding the intricacies of cash inflows and outflows.
  • Assessing the liquidity and solvency of the organisation.

4. Budgeting

  • Exploring the importance of budgeting in organisational planning.
  • Practical techniques for creating, monitoring, and managing budgets.

5. Pricing

  • Strategies for setting prices that reflect value and ensure profitability.
  • Understanding the impact of pricing decisions on overall financial performance.

6. Break-Even Analysis

  • Calculating the point at which revenues equal costs.
  • Utilising break-even analysis for decision-making and risk assessment.

By the end of this session, participants will not only have a solid understanding of financial statements and budgeting but will also be equipped with practical tools to apply this knowledge in their respective roles. The ultimate aim of this training is to give non-finance professionals the confidence to contribute proactively to organisational success with respect to financial matters.

Total Learning Hours

Full course: 1.5 hour

Hours include contact hours, supervised practice hours, self-study hours and assesment hours.

Trainers

Kurt Muscat

Kurt is an economist and accountant, with over 5 years of experience. He is presently an Assistant Manager at EMCS Advisory Ltd. He holds a Master of Science in Economics from the University of Malta and an ACCA qualification. This unique combination equips him with a robust skill set in economic theory, financial management, and data analysis.

He specialises in financial modelling, analysis, forecasting, and business valuations. His skills and knowledge are valuable assets in helping businesses make informed decisions, manage risk and maximise shareholder value. He also conducted various comprehensive economic research and analysis, investigating market trends, economic indicators, and policy implications. His expertise extends to performing meticulous economic impact assessments, rigorous cost-benefit analyses, and detailed feasibility studies across diverse projects and initiatives. Kurt’s portfolio includes impactful contributions to sectors such as tourism, public transport, employment, and environmental sustainability.

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