Financial Skills for HR Professionals Course
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1- Online Training...with international accreditation. The value of participation per person is €1,450
2-Requirement : specifying the course, number of participants
implementation date, and joint coordination.
Group contracting ... 20% Discount For Each Participant In Any Group Of Five Person Or More
Other Places To Hold The Course :
KualaLumpur.. Istanbul.. Dubai.. Cairo.. Riyadh.. Jeddah.. Abu Dhabi.. Doha.. Muscat.. Sharm El Sheikh.. Kuwait.. Tripoli.. Amman.. Beirut.. Damascus.. Tunisia.. Casablanca.. London.. Paris.. Barcelona.. Amsterdam.. Brussels
Financial Skills for HR Professionals Course
Introduction :
This comprehensive financial intelligence for HR professionals course is designed to enhance the financial literacy of HR professionals by incorporating key financial principles and skills relevant to their roles within the organization.Participants will learn to apply financial accounting and management skills within HR. The financial intelligence for HR professionals course covers various financial domains pertinent to HR, combining hard financial skills with soft skills in finance to provide a robust learning experience for HR professionals.
Course Objectives :
At the end of this course, the participants will be able to :
- Appreciate the significant importance of cash flow (rather than profit) and discounted cash flow (DCF) in creating value for optimal decision-making to maximize shareholder wealth.
- Analyze the income statement (or profit and loss account), balance sheet, and cash flow statement. Use ratios to interpret the financial statements and be aware of their limitations.
- Appreciate the key role played by the HR department in the organization\’s budget process and preparation of the master budget, as well as using techniques like activity-based budgeting (ABB).
- Use the techniques of break-even analysis, budgetary control, capital investment appraisal, capital budgeting, and variance analysis for budgetary control.
- Identify the costs required to manage a modern HR department to prepare its annual budget and manage its actual performance.
- Use their financial knowledge for improved planning and management decision-making.
- Communicate with finance professionals, within and external to their organization, to become a more effective business manager.
- Liaise more effectively with other departments on financial matters.
- Share their financial knowledge within their department and with other departments within your organization.
- Identify and quantify each area in your organization\’s budget for which the HR function has indirect responsibility.
- Identify and quantify each of the areas for which your HR function is responsible for preparing a comprehensive HR department budget.
- Measure HR performance.
Targeted Audience :
- HR managers.
- HR supervisors
- HR professionals who want to develop their financial skills.
- This financial intelligence for HR professionals course is for individuals who want to gain great skills to improve their careers.
Course Outlines :
Unit 1 : Company Objectives and Financial Statements :
- Measuring company performance.
- Value creation and the primary objective of maximization of wealth.
- Income statement (profit and loss account).
- Balance sheet.
- Cash flow statement.
Unit 2 : Reading and Interpreting Financial Statements :
- Measurement of operating performance.
- Measures of financial performance and financial position.
- Risk measurement.
- Limitations of ratio analysis.
Unit 3 : Discounted Cash Flow (DCF) :
- The importance of the timing of cash flows.
- Future values.
- Present values.
- Discounted Cash Flow (DCF).
Unit 4 : Costing :
- Fixed costs, variable costs, and overheads.
- Overhead allocation, absorption, and Activity-Based Costing (ABC).
- Expenses versus inventory (stock valuation).
- Contribution compared with profit.
Unit 5 : Decision-Making :
- Relevant costs.
- Shut-down versus continuation.
- Make versus buy.
- Product mix and limited resources.
- Decision trees.
Unit 6 : Budgeting :
- Purposes of budgeting.
- The budget process.
- Activity-Based Budgeting (ABB).
- Uncertainty and risk.
- Motivation and the behavioral aspects of budgeting.
- Problems in budgeting.
- Non-financial performance measures.
Unit 7 : Cost/Volume/Profit (CVP) Analysis :
- Cost, volume, and profit relationships.
- Break-even analysis.
- The impact of cost structure changes.
- Limitations of break-even analysis.
Unit 8 : HR and The Budget Process :
- Organization charts.
- Manpower planning.
- The direct labor and indirect labor budget.
- Employee benefits.
- Employee records.
- Payroll administration.
- Redundancy costs.
- Health and safety.
- Employee appraisal.
- Succession planning.
Unit 9 : The HR Budget :
- HR staff costs.
- HR overhead costs.
- HR overhead cost allocations.
- Employment or outsourcing.
- Training and employee development.
- Preparation of the HR budget.
- Your organization\’s HR budget.
Unit 10 : Measuring HR Performance :
- Why do we measure HR?
- How do we measure hiring and staffing?
- How do we measure training and development?
- How do we measure employee relations and staff retention?
Unit 11 : Budgetary Control :
- Organizational and accounting control systems.
- Standard costing.
- Flexed budgets.
- Variance analysis.
- Types of variances and the reasons they occur.
- Planning and operational variances.
- Controllable and uncontrollable costs.
- Responsibility for HR budget variances.
Unit 12 : Capital Investment Appraisal :
- Methods for evaluating capital projects.
- Payback.
- Net present value.
- Internal rate of return.
- Discounted payback.
Unit 13 : Capital Budgeting :
- Capital rationing.
- Ranking of investment projects.
- Inflation and investment.
- Using expected values and standard deviations to make decisions.
European Business Center Training Methodology :
Our training work is presented in a professional and attractive manner.. Interspersed with interceptive information to renew attention throughout the training period… We aim with this method to train the listener and interact… In addition to practical applications that target the direct skills and knowledge required to be achieved.. It is presented to the trainees in more than one way.. Practical exercises and applications.. Surveys and questions.. A training strategy has been adopted based on pairing between the theoretical and the professional and between the local and the global.
What Does The Participant Get From The Course?
Each participant obtains an internationally accredited training certificate from the European Business Center for Training and Development … which has the ISO certificate in quality No. 9001/2015 from the English international company UKAS .. and receives a training bag containing the scientific material via an electronic flash … in addition to an enjoyable and useful training that is reflected Positive and developmental for individuals and the institution
Note :
We can implement the training course in any of the cities referred to in this course..at the appropriate and required time for the trainees..through joint coordination with the training department at the center..the training is implemented in a distinctive manner according to the best quality standards so that we meet all training requirements and needs.
International Accreditations
European Business Center for Training and Development has obtained international and official accreditations with the highest and best international levels scientifically and technically, which reflect the level of outstanding performance in our training work.. so that it achieves what each participant aspires to by obtaining the best certificates with officially approved scientific and technical standards.
