Background:

Hetta Institute for International Development (HIID) is a USA-based professional educational corporation specializing in human capacity building. The Institute specializes in helping the mid and senior-level executives, particularly those from the developing countries, to upgrade their skills. HIID was founded in 2001 and registered with Arizona Corporation Commission, Phoenix, Arizona, USA. The Institute is also registered with the New Jersey Department of the Treasury Division of Revenue and Enterprise Services. HIID also partners with Center for Executive Training and International Development (CETID), a professional training provider in sustainable development, registered and based in Manhattan, New York City, USA. Since 2001, HIID has provided short term training courses to hundreds of high-ranking government and corporate officials.

Course Description:

The “Advanced Concepts in Results-based Financial Management and Budgeting for Managers” course provides a basic grounding in financial management, policies, strategies and managerial decisions as they relate to an organization’s financial well being. The course explains and analyzes financial concepts such as capital structure, capital investment decisions, financial ownership, and conflicts. Other financial concepts include dividends and repurchase issues, mergers, acquisitions, and divestitures, financial distress, liquidation and resolution, risk management, and economic rationalization and organization architecture. The issue of the current global financial crisis as it relates to the developing world will be analyzed.

The course also outlines the similarities and differences between the financial management systems in the private and public sectors and as well as between the developed and the developing economic systems. In this course, participants will learn how to develop and administer a budget that greatly enhances the performance and results of their departments or organizations. Finally, the course presents basic financial management concepts and on the principles on how government funds are established, accounted for, reconciled and reported on. The new approach learned in this course will also help the participants to consistently meet and exceed their financial expectations and goals.

Course Learning Objectives:

  • To enable participants to gain an understanding of financial management and the elements of managerial finance.
  • To introduce the participants to the measuring activities that drive future financial performance and the rules that shape financial statement and taxes.
  • To introduce the participants to finance operations and growth at different stages, and money and other capital markets.
  • To understand the practical tools for management decisions and measuring performance.

Definitions of Key Concepts:

  • The basic concepts in financial management
  • Scope
  • Financial cycle
  • Government financial cycle
  • Corporate finance
  • Investment fund management
  • Accounting and reporting
  • Capital control and structuring
  • Results-based financial management

The 3 Primary Decisions Areas of Finance:

  • Investment decisions
  • Financing decisions
  • Dividend decisions

The scope of Financial Management:

  • Estimating financial requirement
  • Money and capital markets
  • Investments
  • Financial management
  • Deciding capital structure
  • Selecting sources of finance
  • Ensure proper cash management
  • Implementing financial control
  • Proper utilization of surpluses

Sources of Funds:

  • Taxes
  • Bonds
  • Common stocks
  • Bank loans

Public Finance:

  • Government Financial cycle
  • Government revenue sources
  • Tax revenue
  • Types of taxes
  • Government borrowing
  • Printing money
  • Privatization

Financial statements:

  • Balance Sheet
  • Income Statement
  • Cash flow Statement
  • Assets
  • Revenue
  • Liability
  • Equity
  • Interpreting and understanding financial statements
  • Management accounting reports

Financial Control:

  • Management of cash
  • Planning
  • Internal control system
  • Elements of financial forecasting
  • Budgeting control and standard costing
  • Dividends and repurchase issues
  • Mergers, acquisitions, and divestiture
  • Financial distress and, liquidation and resolution
  • How to handle common cost variations with confidence and skill
  • Fraud detection and prevention
  • Accurate record keeping
  • Timely financial reporting
  • Fundraising
  • Financial Analysis
  • Regulatory Compliance

Financial Planning:

  • SWOT Tool
  • SMART Tool
  • Variance Analysis
  • Forecasting
  • Decision analysis
  • Break-even Analysis

African Stock Markets:

  • Infrequent trading shares
  • Limited access to reliable information technology
  • Lack of liquidity
  • Lack of public confidence in the integrity of stock exchanges
  • High levels of risk
  • The small size of African stock markets
  • Lack of regional integration

Budgeting:

  • What is a budget?
  • Basic budgeting methods
  • Fundamentals of Financial Planning and budgeting
  • Basic functions of budgeting
  • Expense and revenue budgets
  • Types of budgeting
  • Recurrent and capital expenses
  • Financial manager and the budgetary process
  • Recurrent and capital budgeting
  • Best practices in budgeting and managing corporate funds
  • Strategic planning and budgeting
  • Budget timeline
  • How to spot budget troubles early before a crisis develops
  • Limitations of budgeting

Risk and Financial Management:

  • Strategic risks
  • Operating risks
  • Financial risks
  • Political risks
  • Economic risks
  • Cultural risks
  • Other risks
  • Dealing with Risks
  • Risk management and economic rationalization and organizational architecture

Challenges in Financial Management:

  • Financial decision-making process
  • Problems of budgeting
  • Problems of revenue
  • Human elements problems
  • Transparency and accountability
  • Consumer credit
  • Corporate credit
  • Banks
  • Emerging markets

Conclusion:

  • Case studies
  • Problem-solving exercises
  • Group presentations
  • Computer training with a brand new laptop to take home
  • Site visits
  • Case studies
  • Problem-solving exercises
  • Group presentations

At the end of the course, participants will be able to:

  • 1. Demonstrate the ability to apply their financial knowledge in a business setting.
  • 2. Explain why the financial statement is important to the decision-making process.
  • 3. Distinguish among balance sheet, income statement, and cash flow statement.
  • 4. Demonstrate how to use financial statements to enhance financial analysis.
  • 5. Define and understand the balance sheet and income statement analysis.
  • 6. Know how to start up financing, financial growth, and other forms of external financing.
  • 7. Demonstrate and explain the merging of assets and financing; and life-circle view of financing.
  • 8. Explain money and capital markets securities.
  • 9. Explain and analyze the cost-benefit analysis, Accounting Return on Investment, estimating no quantifiable benefits and costs.
  • 10. Know the reporting of returns on capital.

Learning Methodology:

The course is delivered in a workshop setting facilitated by seasoned professional facilitators with practical experience. Active participation is required and key to the success of the workshops. Other methods used in this course include case studies and problem-solving exercises. Assessment of participant’s performance will be measured through effective class participation, group presentation, group project, and class attendance. This course combines presentations, lectures, class discussions, group presentation, and problem-solving exercises.

Who should attend?

The course should prove valuable to all directors and managers who manage funds in their department or organization – financial managers, controllers, auditors, bankers, department heads, and managers.

Course Duration:

2 weeks

Training Locations and Scheduled Dates:

Phoenix, Arizona, USA: Jan 14-25, 2019 Jersey City, New Jersey, USA Jan 14-25; Apr 15-26; Jun 17-28; Aug 19-30; Oct 14-25; Dec 2-13, 2019; Washington DC, USA: Feb 11-22, 2019

Course Materials:

Include PowerPoint presentation slides, carefully selected reading materials, exercises, case studies, reading references, and a brand new laptop computer.

Registration Fees:

The course fee is $4,950 USD for two weeks. The course fee covers the following: instruction, course materials, one brand new laptop computer to take home, administration expenses, field trips, cultural programs, and miscellaneous program-related expenses.

How to REGISTER:

To participate in this course, the applicant must:
  • 1. Send a completed application form
  • 2. Have a bachelor’s degree/or have relevant work experience at senior management level
  • 3. Be nominated by the head of his/her department
  • 4. Be a senior member of the organization
  • 5. Demonstrate a devoted interest in the course
  • 6. Have proof of English proficiency
  • 7. Demonstrate proof of financial sponsorship for the course