10 Days Training Course for Finance Success Program in SA

10 Day Training Course

Modules and Learning Objectives: 2018

Module 1 – Develop and manage your business financial goals and key performances

•    Learning Objectives

•    Link your personal goals to your business goals

•    Collect historical financial data or create projections

•    Develop financial goals which are SMART principles

•    Select financial performance goals using key performance indicators (KPI)

•    Set targets to help you measure and monitor your goals

•    Perform tasks that will be part of your operating systems

•    Sustain your financial goals always

Module 2 – Determine the appropriate structure for your business

•    Learning Objectives

•    Know the different types of business structures

•    Learn the advantages and disadvantages of each business structure

•    Differentiate income tax and legal considerations for each structure

•    Identify the structure appropriate in each industry

•    Use checklist for setting up agreements for partnerships

•    Select the business structure appropriate for your needs

Module 3 – Know your obligations as a Director

•    Learning Objectives

•    Explain who can be a Director of a company

•    Identify who does not qualify to be Director

•    What are Directors’ duties and obligations?

•    How must a Director conduct themselves and the affairs of the business

•    Develop appointment processes of a Director

•    How Directors and shareholders report and manage relations

•    Consider accountability which is based on the needs and growth plans

•    Specify the powers of a Director and how decisions need to be made

•    Find a remuneration process for a Director

•    Design a resignation process or removal of a Director

•    Select an audit or independent review using public benefit interest guide

•    Identify documents required as per the Companies Act

Module 4 – Know your obligations as a Tax Payer

•    Learning Objectives

•    Select the appropriate tax system

•    Check whether you are entitled for Turnover Tax

•    Apply Income Tax Act requirements, including submission of returns (IT14 and IRP6)

•    Apply VAT requirements for registration, tax invoice and submission of returns (VAT201)

•    Understand the implications of tax on special cases

•    Understand the duties of VAT vendor

Module 5 – Know your obligations as an Employer

•    Learning Objectives

•    Explain the process of employment

•    List the basic employment laws administration

•    Complete basic employment laws consideration

•    Name documents that needs to kept for income tax

•    Register as an employer (EMP101)

•    Prepare sample payroll with an aim to complete EMP201

•    Complete and assign the compliance checklist

Module 6 – Know your obligations as a Trader

•    Learning Objectives

•    Learn the 9 basic customer rights

•    How to apply consumer rights to trading practices

•    Assess the marketing practices

•    Define the credit agreement

•    Know the 3 categories of credit agreements

•    Learn how to store information as per POPI

•    BEE levels and requirements

•    Apply CPA and NRC to your terms and conditions

•    BEE and EME

Module 7 – Understand financial terminology and how it relates to your daily operations

•    Learning Objectives

•    Differentiate between finance, corporate finance, financial management, accounting and bookkeeping and how they are interrelated

•    Identify the macro-economic factors that affect your industry and whether it is direct or indirect

•    Determine how to make informed decisions on Corporate Business Finance; either investing, financing or dividends decisions and what you need to consider

•    Differentiate between different types of accountancy (how accounts are constructed in each instance)

•    Relate business language to daily operations

•    Trace transactions from entry point to Financial Statements (with and without VAT)

Module 8 – How to cost and price your products and services

•    Learning Objectives

•    Understand the reasons to cost your product/service

•    Identify input (labour, material, overheads), are costs are direct or indirect

•    Calculate all costs per unit on the product/service that you offer

•    Identify and apply the costing approaches for products or services

•    Create your own costing sheet for your products

•    Select appropriate pricing strategy for your product/service

Module 9 – How to do budgets and projections

•    Learning Objectives

•    Understand why you need a budget

•    Describe the budgeting concept and why is it used to manage money

•    Identify the difference between budgets, forecasts and projections

•    List activities that need to be performed to achieve your goals

•    Discuss and select the budgeting techniques

•    List and apply assumptions on activities based on macroeconomic factors

•    Provide or estimate the costs for activities and capture budgets including sales forecasts for each product

•    Identify elements or type of budgets and group the costs

Module 10 – How to manage cash flow in your business

•    Learning Objectives

•    State reasons why cash flow is important in a business

•    Define processes, principles (controls) and systems that will improve your cash flow

•    Compute cash flow projections for any specific period

•    Monitor your cash flow

•    Determine your working capital

Module 11 – Know the key finance role players that you need, and for what

•    Learning Objectives

•    Define finance functions and activities in a business

•    Identify areas of improvement in your business in strengthening finance function

•    Decide on outsourcing or in house accounting function

Module 12 – How to build financial management systems in your

•    Learning Objectives

•    Define financial management systems

•    Understand the relationship between the controls and systems

•    State reasons for finding appropriate financial management systems

•    Identify the groups of users of information, what information they need and when

•    Consider all needs with related costs vs benefits

•    Select the financial management systems that suits your needs

Module 13 – How to set financial controls in your business

•    Learning Objectives

•    Define the finance functions and activities in your business

•    Identify areas of improvement in your business in strengthening finance function

•    Provide reasons for setting up finance function

•    Identify information you need to manage and make decisions on your performance

•    Relate solvency, liquidity and cash flow to the function and competency to provide you with support

•    Identify differences between management accountant and financial accountant

•    Complete your daily, weekly, monthly and annual finance activities checklist for your business

Module 14 – Design your own management accounts using KPI

•    Learning Objectives

•    Identify the different functions/roles between management and financial accountants

•    Select your Key Performance indicators (KPI) as per your financial goals

•    Select charts of accounts based on KPI

•    Obtain industry benchmarks or norms

•    Set up timelines to collect and analyse the data and reports

•    Update cash flow projections/sales forecasts, budgets as per actual

•    Perform controls and monitor your budgets

Module 15 – Understand your financial performance of your business

•    Learning Objectives

•    Understand the purpose of the statement of financial position

•    Define the financial position

•    Identify the assets and the different types of assets

•    Identify the liabilities and the different types of liabilities

•    Distinguish between bad debt and good debt

•    Be able to classify assets and liabilities as current or non-current

•    Understand the requirements for presenting the statement of financial position

•    Identify significant judgements that are required in presenting a statement of financial position

•    Identify accounting policies that influence the figures and notes on the financial position

•    Identify accounting policies and related notes relating to figures on the financial position

Module 16 – Understand your financial position in your business

•    Learning Objectives

•    Understand the different names of recording income and expenses

•    State the purpose of income and expenditure

•    Be able to present a statement of comprehensive income or income statement

•    Know what items of income and expenses are presented as other comprehensive income

•    Be able to analyse expenses by nature and by function

•    Identify the significant and judgements

•    Be able to identify a discontinued operation

•    Know relevant accounting policies and notes relating to income statements

Module 17 – Evaluate and analyze your financial statements

•    Learning Objectives

•    Understand the limitations of ratio analysis

•    Collect the information needed to analyse financial statements

•    Analyse and interpret company financial statements and documents

•    Perform and interpret company working capital analysis

•    Use the evidence in financial statements to make a financial decision

Module 18 – How to finance your business

•    Learning Objectives

•    Determine current financial status of the business (net worth) – for start-up or growing businesses

•    Identify top 3 positive and top 3 negative issues and list 5 corrective actions

•    Complete a Financial Plan as part of your Business Plan

•    Understand the top 6 types of source funding (pros and cons, where to find them and generic requirements) and select the best option that suits your needs

•    Calculate capital investment vs return on investment (opportunity costs)

Module 19 – What documents do the funders/investors need?

•    Learning Objectives

•    Understand general corporate information

•    Prepare a filing system for record keeping

•    Complete general compliance checklist and create action plan where necessary

•    Name and prepare Director’s personal information

•    Recall key information on business plan

Module 20 – How to prepare for a funder/investor meeting

•    Learning Objectives

•    Learn why you need to learn to how to pitch

•    Understand the 9 components of a pitch

•    Complete a pitch template as per the 9 components of your pitch

•    Identify successful traits of a pitch