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Working Capital Management

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Advanced Cash Flow and Working Capital Management

Dates 10 - 14 December
Location Dubai - U.A.E.
Fees US$ 2,950

Introduction

A new and highly participative 5-day seminar which covers the principles, techniques and skills involved in the effective management of cash flow and working capital in any business, blending a clear theoretical framework with extensive use of real-life examples and case studies

In the past many companies gave limited attention to the management of cash flow, and in particular of working capital (in all its forms: stocks, stores, debtors and creditors, each usually with several components) in spite of the fact that working capital often accounts for over 1/3 of total capital employed.

In recent years there has been growing recognition that, in the long run, effective management of cash flow is more important than of profit, and also of the significant potential for improved financial performance from improved management of working capital – both directly from the immediate release of cash, and indirectly by improving the return on capital employed.

A key challenge in achieving these performance improvements is caused by the fact that the actual levels of working capital and delivery of cash flow are effectively determined by the day-to-day actions of large numbers of staff, in large companies often running to tens of thousands.

Seminar Objectives

  • Acquire an Understanding of the Fundamentals of Effective Management of Cash Flow, including the Optimisation of Working Capital
  • Develop Practical Experience of How to Manage Cash Flow and Optimise Working Capital, to facilitate such delivery in real life
  • Raise Financial Skills Levels

Seminar Methodology

There will be a strongly participative, learning-by-doing, style, making extensive use of short case studies (both numeric/analytical and non-numeric/descriptive) and syndicates, as well as open plenary discussion sessions.

Given the relatively advanced nature of the course, and the frequent practical exercises, it is advisable that participants are reasonably numerate and have some prior familiarity with the financial basics (profit and loss accounts, balance sheets, discounted cash flow)

The Course consists of 3 main modules (see outline below). The first 2 modules will begin with short revision/refresher sessions on, respectively, accounting and DCF basics. Each day will comprise several sessions, introducing new material to build on the learning in the previous sessions.

The Seminar Manual includes copies of all the slides used, as well as a Glossary of Financial Terms and a short Guide to DCF.

Who Should Attend?

  • Senior Business Executives, Strategic and Business Development Planners and Project Managers who wish to refresh their understanding and enhance their Skills in managing and improving cash flow and working capital performance
  • Any Staff (Technical, Commercial, Financial, etc) whose work impacts directly on cash flow and/or working capital, who need to acquire improved Competencies for their current work and/or for their career development

COURSE OUTLINE

PART 1: OPERATIONAL CASH MANAGEMENT

  • A Performance Management Model
  • The Financial Language
  • Accounting Basics
  • Cash Flow and Working Capital
  • The 3 Key Financial Statements
  • The Impact of Inflation on Financial Performance
  • Measuring Performance: Ratios/KPIs
  • Benchmarking of Performance

PART 2: STRATEGIC CASH MANAGEMENT

  • The Economic Value Model
  • The Time Value of Money/DCF
  • The Key Investment Indicators
  • Defining the Right Base Case, Sensitivity and Risk Analysis
  • Treatment of Working Capital
  • Valuing Companies/Acquisitions
  • Where Does the NPV come from? /The Drivers of Value
  • Learning from Experience/Project Value Delivery (PVD)

PART 3: OPTIMISATION OF WORKING CAPITAL

  • Optimisation not Minimisation
  • Key Issues
  • Stock
  • Debtors
  • Creditors
  • Stores
  • Settlement Options
  • The Cost of Working Capital
  • Long term
  • Short term
  • Practical Examples
  • Engaging the Organisation

FINAL SESSION

  • Course Summary/Checklists
  • Financial Skills; Further Development
  • Open Forum
  • Course Review

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