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This course could be described as Finance for the Non-Financials in KTO / TTOs.
Designed to provide a better understanding of business finance in a KTO / TTO context, this course delivers practical content that will build on limited financial knowledge and be immediately applicable in your business.
By the end of this course you will be able to
- Understand financial models and financial ratio’s, valuation aspects, project finances, funding sources and subsidies and grants
- Interpret and analyse financial data about your type of business and your (internal and external) customers (researchers, startups, alliance partners, subsidy partners, …)
- Understand what is driving your executive decisions and link these challenges with your decisions
- Speak the language and terminology of finance and be confident to ask effective questions
- Understand accounting policies, financial statements, pricing structures, funding structures, capital structures, valuation methods, subsidy and grants structures.
The Finance Model
- How does your business work from a financial perspective?
- The difference between value and cost: between turnover, (gross, net) profits and cash flow
- The importance of cash management (cash is king!)
- How your business / project / spin off / research / organisation is funded and where money is spent
- The key statements profit and loss, balance sheet and cash flow explained;
- How to quickly interpret the financial stability, solvency and efficiency of a business – the key financial ratios
Financial terminology and policies; depreciation and amortization; gearing; EBIT and EBITDA; accruals and prepayments; capitalisation of costs; valuation methods
- The relationship between sales, margins and costs
- Costing methods – full, marginal and activity based
- Budgets and Forecasts
- The Profit Improvement Model