Accounting for Non-Finance Professionals in Copenhagen, Denmark

This training provides non-finance professionals with essential knowledge of management accounting and financial principles. It bridges the gap between financial data and managerial decision-making, focusing on understanding budgets, cost analysis, financial reports, and key financial concepts. Participants will gain confidence in interpreting financial information, enabling them to make informed business decisions and contribute effectively to organizational goals.

Financial Accounting Basics for Non-Finance Professionals

Module 1: Introduction to Financial Accounting

Key financial statements: Income statement, balance sheet, and cash flow statement

Understanding key financial terms and concepts

Relationship between accounting and business decisions

Module 2: Analyzing Financial Statements

Reading and interpreting financial reports

Key financial ratios for performance analysis

Identifying trends and potential risks in financial data

Module 3: Financial Reporting in Organizations

Overview of compliance and regulatory requirements

Role of financial reporting in decision-making

Management Accounting Essentials

Module 4: Cost Analysis and Management

Types of costs: Fixed, variable, and overhead

Cost behavior and break-even analysis

Activity-based costing (ABC)

Module 5: Budgeting and Forecasting

Preparing and managing budgets

Techniques for accurate forecasting

Variance analysis and corrective measures

Module 6: Financial Decision Support

Linking financial data to strategic decisions

Capital budgeting basics: ROI, NPV, and IRR

Understanding the time value of money

Practical Applications and Advanced Concepts

Module 7: Performance Measurement and KPIs

Identifying key performance indicators (KPIs)

Using balanced scorecards for performance management

Financial metrics and organizational goals

Module 8: Financial Risk Management

Identifying and mitigating financial risks

Basics of financial controls and internal audits

Case studies on risk management practices

Module 9: Real-World Applications

Interactive exercises: Budget creation and cost analysis

Group activity: Interpreting financial reports for decision-making

Case study: Applying financial insights to solve business challenges

Interactive Components

Hands-On Labs: Preparing budgets, analyzing costs, and interpreting financial reports.

Case Studies: Exploring real-world applications of financial and management accounting.

Group Discussions: Collaborative analysis of financial scenarios.

Role-Playing Exercises: Acting as decision-makers based on financial data.