VIRTUAL LEARNING | SENIOR COMPUTER SERVICES INTERNATIONAL

Course / Course Details

Financial Management & Cost Control

Business & Management

By - SENIOR ICT ACADEMY
8 students
N/A
(0)

Course Requirements

To ensure a successful learning experience, participants should meet the following requirements:

Basic Business Knowledge
- A general understanding of basic business concepts and operations will be beneficial but not mandatory. The course is designed to be accessible for both beginners and individuals with some experience in business management.
Computer and Internet Access
- A reliable computer (desktop or laptop) with an internet connection is required to access the course materials, videos, and interactive modules.
- Participants should be comfortable navigating online learning platforms.
Software Tools
- Microsoft Excel or Google Sheets (or any spreadsheet software) for performing financial analysis, budgeting, and cost control tasks.
- Basic proficiency with these tools will be helpful for applying practical lessons.
Commitment to Self-Paced Learning
- Participants should be prepared to dedicate time to review course materials, complete assignments, and engage in quizzes or discussions as part of the self-paced learning process.
- It is recommended to allocate a few hours each week to complete the course at a comfortable pace.
Optional: Accounting Software (for Practical Application)
- While not mandatory, access to basic accounting software (e.g., QuickBooks, Xero, or any other financial management tool) can be useful for practicing real-world applications of financial management and cost control.
Willingness to Participate in Group Discussions (if applicable)
- For courses with interactive features, participants may need to engage in group discussions or forums. Active participation will enhance learning.
Desire to Apply Learning to Real-Life Scenarios
- A key part of this course involves understanding and applying financial management and cost control principles to real business cases. Participants should be ready to work through practical examples, case studies, and challenges that relate to managing organizational finances.

By meeting these requirements, participants will be set up for success in mastering the concepts of financial management, budgeting, and cost control techniques, which are critical skills in today’s business environment.

Course Description

The Financial Management & Cost Control course is designed for individuals looking to gain in-depth knowledge and practical skills in managing the financial resources of an organization while effectively controlling costs. This course is ideal for business owners, managers, finance professionals, and anyone seeking to optimize financial operations and make informed, strategic decisions to improve the financial health of an organization.

Through this course, participants will explore the core principles of financial management, budgeting, and cost control techniques. By understanding financial statements, conducting financial analysis, and learning cost reduction strategies, participants will be empowered to take charge of their organization’s financial performance and profitability.

Course Objectives

By the end of the Financial Management & Cost Control course, participants will be able to:

Understand Core Financial Management Principles
- Comprehend financial management fundamentals including financial analysis, planning, and strategy.
Analyze Financial Statements
- Learn how to interpret and analyze income statements, balance sheets, and cash flow statements.
Develop and Implement Budgets
- Create detailed financial plans that align with business objectives.
- Control and monitor budget implementation to ensure financial goals are achieved.
Master Cost Control Techniques
- Implement cost management strategies such as cost allocation, cost reduction, and performance evaluation.
Make Data-Driven Financial Decisions
- Utilize financial data and performance indicators to make informed, actionable decisions.
Maximize Profitability and Minimize Losses
- Develop strategies to minimize operational costs and increase profitability.

Key Topics Covered

Introduction to Financial Management
- Overview of financial management concepts and the role of finance in business.
- Key functions of financial managers and decision-making processes.
Financial Statements and Analysis
- Understanding and preparing financial statements: Balance Sheet, Income Statement, Cash Flow Statement.
- Financial ratios and performance indicators: Profitability, liquidity, solvency, and efficiency ratios.
Budgeting and Forecasting
- Creating and managing budgets for different business functions.
- Techniques for forecasting revenue and expenses.
- Variance analysis: Monitoring actual financial results against budgeted figures.
Cost Management and Control
- Types of costs: Fixed vs. variable costs, direct vs. indirect costs.
- Cost allocation methods and their impact on business operations.
- Identifying cost-saving opportunities without compromising quality or performance.
Capital Budgeting and Investment Analysis
- Techniques for evaluating investments and capital projects.
- Understanding Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period.
Cost-Volume-Profit (CVP) Analysis
- Understanding the relationship between cost, volume, and profit.
- Break-even analysis and contribution margin analysis.
Financial Decision-Making and Strategy
- Strategic financial planning to align with business goals.
- Managing working capital, liquidity, and financial leverage.
- Risk management and forecasting potential financial risks.
Financial Control Systems
- Establishing internal controls to monitor financial performance.
- Implementing systems for auditing, compliance, and fraud prevention.
Ethical Considerations in Financial Management
- Understanding the ethical standards and responsibilities of financial managers.
- Recognizing and avoiding financial mismanagement and fraud.

Course Requirements

Basic Understanding of Business Concepts
- A general understanding of business operations will be helpful, though not mandatory.
Access to a Computer and Internet Connection
- Participants will need a computer with internet access to attend online lectures, access materials, and complete assignments.
Software Requirements
- Microsoft Excel or Google Sheets for financial modeling and budgeting tasks.
- Accounting software (optional) for practical application.
Commitment to Self-Paced Learning
- Participants should be ready to dedicate time to learning key concepts, completing quizzes, assignments, and applying practical knowledge.

Course Outcomes

Upon successful completion of the course, participants will:

Be Equipped to Make Strategic Financial Decisions
- Gain the ability to manage an organization’s finances and make decisions based on accurate and insightful financial data.
Understand Financial Statements and Ratios
- Be able to interpret financial statements and use financial ratios to assess the health of a business.
Master Budgeting and Forecasting
- Develop proficiency in budgeting processes and forecasting revenue and costs to align with organizational objectives.
Implement Effective Cost Control Techniques
- Have the skills to identify and manage costs effectively, ensuring maximum profitability and efficient use of resources.
Improve Financial Performance and Profitability
- Be able to apply the learned techniques to increase profitability while minimizing operational inefficiencies and costs.
Build Financial Plans and Projections
- Create long-term financial projections and strategies for business growth and sustainability.

This Financial Management & Cost Control course offers practical, hands-on learning and is designed to prepare individuals to handle the complex financial challenges of modern organizations.

Course Outcomes

Upon successful completion of the Financial Management & Cost Control course, participants will achieve the following outcomes:

Strategic Financial Decision-Making
- Participants will be able to make well-informed, data-driven financial decisions that align with an organization's goals and objectives. They will be confident in assessing financial data to steer business strategies effectively.
Mastery of Financial Statements and Analysis
- Participants will gain the ability to analyze and interpret key financial statements (Income Statement, Balance Sheet, and Cash Flow Statement). They will be skilled in using financial ratios and performance indicators to evaluate the financial health of an organization.
Proficiency in Budgeting and Forecasting
- Learners will be able to create comprehensive budgets and financial forecasts for different business functions, ensuring that resources are allocated appropriately and financial objectives are met. They will also be proficient in conducting variance analysis to compare actual performance against projections.
Effective Cost Control Implementation
- Participants will master cost control techniques, such as identifying cost-saving opportunities, allocating costs efficiently, and minimizing waste while maintaining quality standards. They will be able to implement strategies to keep costs within budgetary constraints and improve profitability.
Increased Profitability through Financial Efficiency
- Learners will be equipped with the skills to improve profitability by optimizing cost structures, streamlining operations, and leveraging financial data to enhance business performance.
Comprehensive Financial Planning and Forecasting
- Participants will gain the ability to develop long-term financial strategies that drive business growth, sustainability, and scalability. They will be able to forecast revenue and expenses accurately, ensuring the business is prepared for future financial needs.
Risk Management and Mitigation
- The course will help participants understand financial risks and apply effective risk management strategies to mitigate potential financial setbacks. Learners will be able to evaluate financial risks and take proactive measures to safeguard their organization's finances.
Ethical Financial Management Practices
- Participants will understand the ethical responsibilities of financial managers and will be equipped to uphold integrity and transparency in financial reporting, decision-making, and cost management.
Improved Financial Control Systems
- Learners will be able to design and implement effective internal control systems that safeguard against fraud, ensure compliance, and improve financial accountability within the organization.

By achieving these outcomes, participants will be well-prepared to manage and control financial resources efficiently, contribute to the financial success of their organization, and drive long-term business growth.

Course Curriculum

11 chapters
240 lectures
0 quizzes
N/A total length

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1 Introduction to Finacial Management

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2 Introduction to Fundamentals of Financial Management

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This lesson introduces the fundamentals of financial management, highlighting its importance, core principles, and role in ensuring both personal and organizational success.

3 Introduction to Financial Management Lesson Two

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Lesson Two explores financial planning and budgeting, focusing on how individuals and organizations set goals, allocate resources, and control spending for sustainable growth.

4 Introduction to Financial Management lesson three

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5 Goals of Finacial Management

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Financial management is about how money is planned, used, and controlled to meet goals. It involves budgeting, saving, investing, and making decisions that ensure resources are used wisely for growth and stability.

6 THE THREE KEY DECISIONS

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7 TIME VALUE OF MONEY (PART 1)

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8 THE THREE KEY DECISIONS (PART 2)

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9 TIME VALUE OF MONEY (PART 3A)

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10 TIME VALUE OF MONEY (PART 3B)

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11 INVESTMENT APPRAISAL (PART 1)

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12 INVESTMENT APPRAISAL (PART 2)

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13 INVESTMENT APPRAISAL (PART 3)

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14 INVESTMENT APPRAISAL (PART 4)

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15 INVESTMENT APPRAISAL (PART 5)

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16 INVESTMENT APPRAISAL (PART 6) - INTERNAL RATE OF RETURN

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17 INTRO TO FINANCIAL MANAGEMENT - THE THREE KEY DECISIONS (PART 1)

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18 INTRO TO FINANCIAL MANAGEMENT - THE THREE KEY DECISIONS (PART 2)

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19 CORPORATE STRATEGY AND FINANCIAL MANAGEMENT

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20 STAKEHOLDERS AND THE AGENCY THEORY

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21 ANNUITIES (PART 1)

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22 ANNUITIES (PART 2)

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1 COST CONTROL TECHNIQUES

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We introduce Cost Control Techniques, Understanding cost control is essential for business decision-making, profit maximization, and efficient financial management.

2 INTRO TO COST AND MANAGEMENT ACCOUNTING (PART 1)

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3 COST BEHAVIOUR

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4 COST SEGREGATION AND ESTIMATION (THE HIGH-LOW METHOD) - PART 1

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5 COST SEGREGATION AND ESTIMATION (THE HIGH LOW METHOD) - PART 2

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6 CVP (BREAK EVEN) ANALYSIS (PART 1)

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7 VARIANCE ANALYSIS (PART 1)

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8 VARIANCE ANALYSIS (PART 2)

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9 THE CASH BUDGET (PART 1)

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10 THE CASH BUDGET (PART 2)

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11 MARK-UP AND MARGINS

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12 CVP (BREAK-EVEN) ANALYSIS (PART 2)

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13 MARGINAL AND ABSORPTION COSTING (PART 1)

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14 MARGINAL AND ABSORPTION COSTING (PART 2)

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15 THE ELEMENTS OF COST STRUCTURE

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16 STOCK LEVELS (PART 1)

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17 STOCK LEVELS (PART 2)

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18 INVENTORY VALUATION (FIFO & WEIGHTED AVERAGE) - PART 1

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19 INVENTORY VALUATION (FIFO & WEIGHTED AVERAGE) - PART 2

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20 THE CASH BUDGET PART 3

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21 ACCOUNTING FOR OVERHEADS (PART 1)

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22 ACCOUNTING FOR OVERHEADS (PART 2)

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23 ACCOUNTING FOR OVERHEADS (PART 3)

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24 ACCOUNTING FOR OVERHEADS (PART 4)

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25 ACCOUNTING FOR OVERHEADS (PART 5)

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26 ACCOUNTING FOR OVERHEADS (PART 6)

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27 CVP (BREAK-EVEN) ANALYSIS (PART 3)

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28 CVP (BREAK-EVEN) ANALYSIS (PART 4)

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29 INVESTMENT APPRAISAL (PART 1)

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30 INVESTMENT APPRAISAL (PART 2)

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31 INVESTMENT APPRAISAL (PART 3)

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32 INVESTMENT APPRAISAL (PART 4)

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33 INVESTMENT APPRAISAL (PART 5)

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34 INVESTMENT APPRAISAL (PART 6) - INTERNAL RATE OF RETURN

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35 COST SEGREGATION (HIGH LOW METHOD) - PART 3

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36 JOB COSTING (PART 1)

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37 JOB COSTING (PART 2)

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38 OVERHEAD ABSORPTION RATES

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39 FUNCTIONAL BUDGETS (PART 1)

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40 FUNCTIONAL BUDGETS (PART 2)

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41 THE PROFESSIONAL CODE OF ETHICS FOR ACCOUNTANTS (PART 1)

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42 THE PROFESSIONAL CODE OF ETHICS FOR ACCOUNTANTS (PART 2)

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43 THE PROFESSIONAL CODE OF ETHICS FOR ACCOUNTANTS (PART 3)

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44 THE PROFESSIONAL CODE OF ETHICS FOR ACCOUNTANTS (PART 4)

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1 INTERPRETATION OF FINANCIAL STATEMENTS (ACCOUNTING RATIOS)

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2 Time-weighted and Money-weighted Average Returns

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3 Adjusting for Total, Systematic, and Idiosyncratic Risk

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4 The M2 and T2 Measures

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5 Measures of Market-Timing Ability

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6 Using Attribution Analysis to Identify Sources of Performance

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7 An Attribution Analysis Example, and the Interaction Effect

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8 Evaluating Operating and Financial Performance

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1 Ethical Issues in Financial Management

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2 ETHICAL PRACTICES HOW FINANCE MANAGER SHOULD OPERATE

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3 ETHICAL AND GOVERNANCE ISSUES | L1

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4 Ethical Issues and Corporate Governance in Financial Management

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5 Ethical issues and due dilligence

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6 Risk Management Systems in the Banking Sector

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1 Risk Management | Process and Approaches

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2 Financial Risk and Management of Financial Risks

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3 Financial Management

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4 The Balance Sheet of a Bank

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5 Business Model of a Bank

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6 Risk Management at Banks

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7 Risk Management at Banks

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8 Basel 3 Explained

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9 Credit Risk Explained

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10 Credit Risk Explained

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11 Banking vs. Trading Book Explained

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12 Market Risk Explained

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13 IRRBB Explained (Interest Rate Risk in the Banking Book)

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14 Risk Inventory Explained

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15 Risk Strategy and RAS (Risk Appetite Statement)

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16 Why did Silicon Valley Bank Fail?

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17 Liquidity Risk Explained

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1 Financial Decision-Making and Strategy

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2 Decision Analysis I Unit 1

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3 Decision Analysis I Theory I Unit 1

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4 Decision Analysis I Theory I Unit 1

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5 Decision Analysis I Theory I Unit 1

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6 Problems on CVP Analysis I Unit 1

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7 Problems on CYP Analysis I Unit 1 I Part 2

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8 Problems on CVP Analysis I Unit 1 I Part 3

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9 Problems on CVP Analysis I Unit 1 I Part 4

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10 Problems on CVP Analysis I Unit 1 I Part 5

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11 Problems on CVP Analysis I Unit 1 I Part 6

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12 Problems on CVP Analysis I Unit 1 I Part 7

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13 Problems on CVP Analysis I Unit 1 I Part 8

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14 Problems on CVP Analysis I Unit 1 I Part 9

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15 Problems on CVP Analysis I Unit 1 I Part 10

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16 Pricing Decisions I Theory I Unit 2

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17 Pricing Decisions I Theory I Unit 2

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18 Target Costing I Unit 2 I Meaning, Features and Objectives

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19 Pricing Decisions I Unit 2 I Elasticity of Demand

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20 Pricing Decisions I Unit 2 I Product Life Cycle

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21 Pricing Decisions I Unit 2 I Market Structure

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22 Risk Management I Unit 3 I Part 1 I Meaning of Risk

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23 Risk Management I Unit 3 I Part 2 I Types of Risks

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24 Risk Management I Unit 3 I Risk Identification and Assessment I

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25 Risk Management I Unit 3 I Risk Mitigation Strategies

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26 Investment Decisions I Unit 4 I Capital Budgeting

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27 Investment Decisions I Unit 4 I Capital Budgeting

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28 Investment Decisions I Unit 4 I Capital Budgeting

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29 Investment Decisions I Problems on Capital Budgeting

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30 Investment Decisions I Problems on Capital Budgeting

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31 Investment Decisions I Problems on Capital Budgeting

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32 Investment Decisions I Problems on Capital Budgeting

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33 Investment Decisions I Problems on Capital Budgeting

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34 Investment Decisions I Problems on Capital Budgeting

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35 Capital Budgeting and Investment Analysis

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1 What is Capital budgeting? | Importance, Methods & Limitations

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2 Time Value of Money (concept explained)

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3 Present Value of a Single Cash Flow

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4 Present Value of an Annuity

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5 Present Value of a Perpetuity

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6 Present Value of a Growing Perpetuity

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7 Present Value of an Annuity Due

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8 Present Value of a Growing Perpetuity

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9 Present Value of an Annuity Due

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10 Ordinary Annuity vs Annuity Due

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11 Net Present Value (NPV)

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12 NPV Example

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13 IRR (Internal Rate of Return)

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14 How to Calculate IRR (using trial and error)

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15 Payback Period Method Example

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16 Discounted Payback Period Method

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17 NPV vs IRR

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18 Capital budgeting class 1 of 2

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1 Budgets and Budgetary Control

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2 Budgets and Budgetary Control

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3 Budgets and Budgetary Control

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4 Budgets and Budgetary Control

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5 Budgets and Budgetary Control

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6 Budgets and Budgetary Control

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7 Budgets and Budgetary Control

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8 Budgets and Budgetary Control

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9 Standard Costing and Variance Analysis

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10 Standard Costing and Variance Analysis

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11 Standard Costing and Variance Analysis I

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12 Standard Costing and Variance Analysis

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13 Standard Costing and Variance Analysis

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14 Standard Costing and Variance Analysis

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15 Standard Costing and Variance Analysis

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16 Standard Costing and Variance Analysis

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17 Standard Costing and Variance Analysis

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18 Standard Costing and Variance Analysis

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19 Standard Costing and Variance Analysis

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20 Standard Costing and Analysis

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21 Technique of Financial Statement Analysis

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22 Technique of Financial Statement Analysis

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23 Basic Cost Concepts...with a touch of humor

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24 The Basics of Project Cost Management

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25 Marginal Costing

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26 Marginal Costing I Problems and Solutions

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27 Marginal Costing I Problems and Solutions

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28 Marginal Costing I Problems and Solutions

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29 Marginal Costing I Problems and Solutions

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30 Marginal Costing I Problems and Solutions

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31 Marginal Costing I Problems and Solutions

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32 Marginal Costing I Problems and Solutions

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33 Decision Making

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34 Decision Making I Problems and Solutions

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35 Decision Making I Problems and Solutions

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36 Decision Making I Problems and Solutions

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37 Decision Making I Problems and Solutions

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38 Budgets and Budgetary Control I Theory Explained

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39 Budgets and Budgetary Control

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1 Build a Monthly Budgeting & Forecasting Model in Excel

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2 Financial Forecasting and Modeling

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3 How to Forecast Revenue for YOUR Business

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4 Financial Risk Management Training

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5 How to Forecast Expenses - Tips for Predicting Future Expenses for a Business

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6 How to Forecast Working Capital - Tips for Predicting Future Working Capital

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7 How to Forecast Intangible Assets for a Business - Tips for Predicting Intangibles Assets

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8 How to Calculate Shareholders Equity for a Company

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9 How to Forecast the Long Term Assets and Liabilities for a Business

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1 INTERPRETATION OF FINANCIAL STATEMENTS

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2 Financial Statement Analysis

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3 How To Use The TREATAS Function

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4 Forecasting in PowerBI

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5 Forward Forecasting Techniques in Power BI with DAX

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6 Create Automatic Forecasts From Historic Data in Power BI using DAX

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7 Forecasting for Power BI Desktop

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8 Budgeting Examples in Power BI using DAX

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9 Forecasting Methods

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10 ARIMA Forecasting

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11 Month Rolling Average

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12 Dynamic Previous Period Metrics based on Date Hierarchy Level

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13 What If Analysis (Adjustable Goal)

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14 CROSSFILTER

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15 Budgeting with Power BI, for Power BI and SQL Server Analysis Services users

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16 Create and Set Budgets Automatically In Power BI Using DAX

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17 Allocating Detailed Monthly Budgets Or Forecasts In Power BI Using DAX

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18 Budgeting with Power BI by Alberto Ferrari (Recorded Webinar)

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19 Monthly Budgeting Sensitivity Table Allocations - Power BI & DAX Analysis Technique

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20 Creating Budgets With Seasonality Adjustments Automatically - Power BI Technique

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21 Dynamic Results vs Budgets & Last Year - Power BI Financial Reporting Techniques

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22 Advanced Product Budgeting Analysis

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23 Forecasting Logic in Power BI with DAX

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24 Dealing With Seasonal Budget Allocations in Power BI

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25 Separate Your Best & Worst Performers vs Budgets

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26 Sales Forecast Least Squares Method EXAMPLE AND SOLVED EXERCISE

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27 How to Create a Cash Flow Forecast using Microsoft Excel - Basic Cashflow Forecast

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28 Forecasting With Excel

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29 Comparing Actual Results To Yearly Budgets Cumulatively in Power BI w/DAX

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30 How To Create Amazing Forecasts in Power BI in Seconds

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31 Power BI Forecasting - Análise de Previsão

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32 DAX for Power BI - MAX of Multiple Columns or Measures

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33 Predict When Customers Will Purchase Next

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34 Dynamically Forecasting in Power BI with R

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35 Revenue Forecast Techniques For Project Data

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36 Actuals vs Budgets - Comparison Insights w/Power BI

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37 Data Setup Tips For Financial Reporting

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38 Integrated Financial Reporting

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1 Project Financial Management - 5 Tips for Good Project Cost Control

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2 Project Cost Management PMP | What is Cost Management

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3 Cost Management

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4 Basic Project Finance Exercise

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Instructor

SENIOR ICT ACADEMY

As the Super Admin of our platform, I bring over a decade of experience in managing and leading digital transformation initiatives. My journey began in the tech industry as a developer, and I have since evolved into a strategic leader with a focus on innovation and operational excellence. I am passionate about leveraging technology to solve complex problems and drive organizational growth. Outside of work, I enjoy mentoring aspiring tech professionals and staying updated with the latest industry trends.

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