UNDERSTANDING FINANCIAL ACCOUNTING & STRATEGY IN PROJECT MANAGEMENT

RATIONAL

Understanding financial accounting & strategy in project management course studies a holistic approach to understanding the significance of financial management in projects management. It is designed to endow participants with the critical skills and knowledge required to effectively manage resource and examine how projects consume resources, create value for a firm and its customers, and how this value may be enhanced.

The participants will also study accounting concepts and the accounting cycle as they apply to projects, understand and analyse financial statements, plan and manage project revenue and cash flows, engage in project budgeting and project cost control including variance analysis, analyse project financing options, and evaluate capital investment projects.

Course Objective

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

• Make informed, effective and efficient decision with respect to pricing, contract and project risk management
• Maintain overall control of projects through proper cost estimation and management
• Expand their knowledge and understanding of accounting and finance
• Interpret outcome on overall project management to maintain project profitability and performance
• Understand the principles of taxation as they apply to projects and achieve all project objectives

COURSE OUTLINE

MODULE 1 –INTRODUCTION TO FINANCIAL ACCOUNTING

• Fundamentals of Financial Accounting
• Financial Accounting Principles
• Types of Financial Accounting
• Financial Statements
• Financial Accounting Examples
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement
• Financial Accounting Advantages
• Financial Accounting Limitations

MODULE 2 – MANAGERIAL ACCOUNTING

• Techniques in Managerial Accounting
• Margin analysis
• Constraint analysis
• Capital budgeting
• Inventory valuation and product costing
• Trend analysis and forecasting

MODULE 3 – UNDERTANDING CORPORATE FINANCE

• Corporate Finance Definition
• Understanding Corporate Finance
• Corporate Finance Tasks
  • Capital Investments
  • Capital Financing
  • Short-Term Liquidity
• The Fundamentals of Corporate Finance and Accounting

MODULE 4 – ASSET AND CONTRACT MANAGEMENT

• Financial asset management
  • Physical and Infrastructure asset management
  • Enterprise asset management
  • Public asset management
• Contract management / administration
• Contract management activities
  • Phases of contract management
  • Contract variation
• Contract compliance/governance
• Contracts and trust
• Managerial functions

MODULE 5 –COST ESTIMATION & FORECASTING OF PROJECT

• Cost Estimation Method
• Cost estimating relationships (CER) to estimate and forecast costs
• Independent variable (cost driver)
• Account analysis (Inspection of accounts) method
• Regression Analysis
• Evaluation Of The Regression Model

MODULE 6 – PROJECT PRICING, PERFORMANCE AND PROFITABILITY

• Pricing Strategy
• Understanding Project Profitability Analysis
• Rate Realization
• Project Profitability Metrics
  • Resource Profit/Margin
  • Project Profit/Margin
• Using a PSA Tool to Conduct Project Profitability Analysis

Who Should Attend?

Financial officers, project managers, controllers, accountants, Treasurers, corporate planning and business development professionals, Sales and marketing professionals

Delivery Method: This will include combine lectures, discussions, group exercises, case studies and illustrations. Participants will also understand the theoretical and practical knowledge of the topic.

Venue: London

Fee: $5000

Duration: 1 week

Course Date: July 17th – 21st 2023