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Imsimbi Training proudly presents

Financial Management for Professionals – 5 DAYS 

 

Imsimbi Training is a fully accredited training provider with the Services Seta, number 2147,  as well as a Level 2 Contributor BBBEE company. 

 

This course is accredited by the Services Seta and the material covers unit standards 252042, 252044, 252036 and 252040 at NQF Level 5 worth 25 credits. 

 

UNIT STANDARDS

Programme Overview

Welcome to this learning programme that will lead you to greater understanding of Financial Management for professionals. 
As you work your way through the learning programme you will gain competence against the following Unit Standards:

SAQA ID     NQF Level     Credits             Title
252040             5                      8             Manage the finances of a unit
252036             5                      6             Apply mathematical analysis to                                                               economic and financial information
252042            5                       5              Apply the principles of ethics to improve                                                    organisational  culture
252044            5                       6            Apply the principles of knowledge management

COURSE OUTCOMES

Unit 1: MANAGE THE FINANCES OF A UNIT

Upon completing Unit 1, the learner should be able to:

  • Explain the accounting cycle by means of a diagram
  • Explain the role of budgeting and forecasting in the strategic planning process with reference to the manager’s specific organisational context
  • Explain the accounting conventions applied in the financial management of a unit with examples
  • Explain the financial reports published by the manager’s entity with examples
  • Analyse the financial statements, using data sources identified and evaluated for authenticity and accuracy
  • Apply the ratios to measure the profitability and liquidity of an entity
  • Apply the ratios to measure the working capital and asset utilisation of an entity
  • Apply the ratios to measure the return of an entity
  • Make recommendations regarding the profitability of, liquidity, working capital, return and resource utilisation by the entity using the results obtained from the application of the ratios
  • Perform calculations relating to the time value of money for different transactions
  • Identify the types and formats of financial forecasts with examples
  • Identify sources of financial forecasts as per the entity’s standard practice
  • Outline the factors in preparing financial forecasts in line with entity’s standard operating procedures
  • Incorporate relevant factors in the preparation of financial forecasts
  • Analyse financial forecasts to determine viability against the entity’s requirements
  • Link budget plans to operational objectives
  • Establish operational objectives in line with unit’s strategic plan
  • Formulate the budget according to standard operating procedures
  • Review the drafted budget, reflect on and modify it to ensure alignment to the operational plan of the unit
  • Agree monitoring systems and adhere to it, according to standard operating procedures
  • Monitor expenditure reports for the year for each team within the unit against given criteria
  • Implement corrective actions where necessary in accordance with the entity’s policies and procedures

 

Unit 2: ETHICS IN ORGANISATIONAL CULTURES

Upon completing Unit 2, the learner should be able to:

  • Demonstrate the relationship between personal values, organisational ethics, and the entity’s culture through examples from the South African workplace
  • Illustrate the complexity of the conflicts between personal values and the entity’s values and ethical codes with examples from the South African workplace  
  • Analyse and describe the potential impact of organisational values and culture on the entity’s triple bottom line
  • Explain the imperatives for ethical conduct in South African organisations with reference to acts, regulations, codes and other documents relevant to the entity  
  • Analyse the role of corporate governance within an entity to determine the contribution of a unit in promoting internal organisational codes and ethical practices  
  • Analyse the specific ethical practices of a unit in different areas with examples  
  • Select an instrument for analysing individual and organisational conduct in respect of organisational values, codes of conduct and corporate ethics  
  • Apply the instrument to gather and record information within a unit in respect of organisational values, codes of conduct and corporate ethics  
  • Apply the instrument to evaluate the current state in a unit against the desired state in respect of organisational values, codes of conduct and corporate ethics   
  • Prepare an implementation plan that describes the strengthening of the entity’s values, code of conduct and ethical practices in the unit  
  • Describe the role and responsibilities of the manager in terms of decision making to strengthen the values, code of conduct and ethical practices in a unit and the entity  
  • Outline the communication activities for promoting the entity’s values, code of conduct and ethical practices in the plan, with role allocation and time frames  
  • Describe the process for monitoring and evaluating improvements in relation to the entity’s organisational values, code of conduct and ethical practices in a unit with role allocation and time frames

 

Unit 3: MATHEMATICAL ANALYSIS OF ECONOMIC AND FINANCIAL INORMATION

Upon completing Unit 3, the learner should be able to:

  • Select appropriate methods for collecting, recording and organising financial and economic data
  • Collect financial and demographic data relevant to the unit
  • Record financial and demographic data relevant to the unit in a usable format
  • Calculate averages and standard deviations using the data collected
  • Calculate the lines of best fit using the data collected
  • Represent data collected and calculations in graphical format
  • Indicate economic relationships through graphical representation techniques
  • Ensure that the graphical representations and numerical summaries are consistent with the data, are clear and appropriate to the situation
  • Make projections on the basis of mathematical analysis

 

Unit 4: PRINCIPLES OF KNOWLEDGE MANAGEMENT 

Upon completing Unit 4, the learner should be able to:

  • Explain the driving forces of the knowledge economy with examples
  • Describe the components of a system for institutionalising knowledge management according to accepted knowledge management theory and practice
  • Explain the importance of knowledge management in managing the knowledge assets for achieving competitive advantage in relation to an entity
  • Explain the results of managing knowledge in relation to an entity
  • Analyse the current practices in a unit in relation to the knowledge management policies and procedures of an entity.
  • Compare the knowledge management practices of a unit to those of other units in an entity
  • Interpret the findings of the analysis to identify strengths and weaknesses
  • Consolidate the findings in a report with recommendations on improvements within a unit and an entity
  • Describe the role of the unit manager in implementing the knowledge management plan in relation to other role players in the entity
  • Develop an operational plan for managing knowledge in a unit in relation to the policies and procedures of an entity
  • Promote the operational plan within a unit and an entity in order to encourage commitment
  • Describe the implementation of the plan in accordance generally accepted knowledge management theory and practice

 

COURSE CONTENTS

MANAGE THE FINANCES OF A UNIT

Learning Outcomes

Module 1:The Key Concepts of Managerial Finance 

  • Introduction 
  • The accounting cycle 
  • The role of budgeting and forecasting in strategic planning 
  • Accounting conventions applied in financial management 
  • The financial reports published in the organisation 
  • Understanding assets and liabilities

Module 2:Interpret Financial Statements

  • Analyse financial statements 
  • Apply ratios to measure profitability and liquidity 
  • Apply ratios to measure return 
  • Make recommendations based on ratio analysis

Module 3: Financial Forecasts

  • Types and formats of financial forecasts
  • Sources of financial forecasts
  • Factors in preparing financial forecasts
  • Incorporate factors in the preparation of financial forecasts
  • Determine viability
  • Perform calculations relating to the time value of money

Module 4: Supervise Financial Management of a Unit

  • Agree and adhere to monitoring systems
  • Monitor expenditure reports
  • Implement corrective actions where necessary

ETHICS IN ORGANISATIONAL CULTURES 

Module 1:The relationship between values, ethics and organisational culture

  •  Relationship between personal values, organisational ethics and organisational culture
  • Conflicts between personal values and organisational values and ethical codes
  • Impact of organisational values and culture on the organisation’s triple bottom line

Module 2: The Concept of Corporate Ethics

  • The imperatives for ethical conduct
  • The role of corporate governance
  • Ethical practices

Module 3:   Principles of Corporate Ethics

  • Instruments for analysing individual and organisational conduct
  • Instruments to gather and record information
  • Evaluate the current state

Module 4:  Organisational Values and Ethical Practices:  Make Recommendations 

  • Prepare an implementation plan
  • The role and responsibilities of the manager
  • Communication activities
  • Monitor and evaluate improvements

 

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