2 Days Workshop
Introduction
The primary goal of this workshop is to help HR professionals who have little or no knowledge in finance and accounting in developing sound financial knowledge to read and understand financial reports. Real-current problematic finance & business cases will be analyzed and scenario solutions will be discussed within the workshop.
Course Objectives
By the end of this course you will be able to:
How To Read A Balance Sheet
How To Read Profit & Loss Statement
Use Profit And Loss Statement To Evaluate Performance
Understand The Relationship Between Cash Flow Statement And Balance Sheet
How To Look For Information Efficiently In The Annual Report
Learn How To Size Up A Company Quickly By Reading Their Financial Ratios
Understand Budgeting For Human Resource Function
Understand Cost Behaviours In Human Resource Context
Assess The Financial Impact Of Employee Attitude
Understand Hr Matrix & Programmes From ROI Perspective
Understand Human Capital Risk Modelling Skills
Methodology
Case Study & Group Discussion.
Who Should Attend
Entrepreneurs, HR Managers & Executives , Business Managers, Marketing Managers, Executives and Managers and all who are interested in Finance for HR Professionals
Special Feature: NOTE: Please bring laptop along
Programmed Outline
Day 1
Module 1: LEARNING THE LANGUAGE: FINANCIAL JARGONS & TERMS
Definitions and terms (depreciation, profits, income, costs, losses, capital, etc)
Capital vs Revenue Expenditure ( Capex vs Opex)
Identifying what are financial statements and their purposes
Module 2: ACCOUNTING CONVENTIONS AND STANDARDS
Understanding ‘Matching’ concept and ‘Accrual’ concept
Other financial standards and their role in financial reports
Accrual accounting vs Cash accounting
Module 3: YOUR FINANCIAL STATEMENTS: INTEPRETING YOUR COMPANY’S FINANCIAL SIGNS
Using the Balance sheet to examine assets and liabilities
Analysing the Income Statement to assess revenues and expenses
Statement of Cash flow: sources and uses of funds
Analysing and making sense of management reports (HR related reports)
Module 4: BUDGETING FOR HUMAN RESOURCE FUNCTION
Budget as an essential driver in HR planning
How to prepare an effective and meaningful Human Resource Budget.
Headcount Budget and connecting with other departmental requirements
Budgeting and Forecasting
Day 2:
Module 5: COST BEHAVIOURS IN HUMAN RESOURCE CONTEXT
Departmental Fixed and variable costs - understanding the cost structure
Separation Costs’ Replacement & Recruitment costs
Training costs; Opportunity Costs
Justifying training costs (calculating the ROI)
Module 6: THE FINANCIAL IMPACT OF EMPLOYEE ATTITUDE
Linking Attitudes to Behaviour and Costing Employee behaviour
Identifying Time Wasters
Estimating financial Impact of attitudes
Module 7: HR MATRIX & PROGRAMMES – ROI PERSPECTIVE
The Concept & Its Measurements
Impact of Compensation & Benefits system
Cost of Employee Health & Welfare programmes
Module 8: RISK MODELLING SKILLS
Analyzing the potential risks facing an organization
Mitigating controls
Weight the financial impact
Cost/benefit decision analysis
Risk Model software