• Introduction to Accounting Principles
• Analysis of General Ledger Accounts
• Financial Statements
     -Balance sheet
     -Profit and Loss Account
     -Cash Flow Statement
• Liquidity Ratios
• Leverage Ratios
• Performance Ratios
• Capital Structure Ratios
• Investment Ratios
• Working Capital Analysis
• Real Case Studies and Examples in Excel of Financial Statement Analysis

The purpose of the seminar is to cover the basic principles of financial management in today’s form. The objective is to equip the participants with the academic and professional background and decision-making tools that are necessary in corporate financial management. The course blends theory and practice with particular focus shed on day-to-day practical problems faced by firms’ executives. 

• Executives of all levels that wish to broaden their knowledge around financial management
• Entrepreneurs  
• Professionals with a non-financial background including especially engineers and legal advisors
• Business Management and Marketing Executives
• Human Resources Management Professionals
• Project Management Professionals
• Internal Auditors

The Financial System

• The structure of the financial system
• Financial Markets and Financial Institutions

Agency problems and Corporate Governance

• Goals and Governance of the Firm
• Agency problems and Corporate Governance

Bond valuation

• Using the Present Value Formula to value bonds
• How bond prices vary with interest rates
• The term structure of interest rates
• Corporate Bonds and the risk of Default

Initial Public Offerings and valuation

• The mechanics of IPOs

Trading and valuing common stocks

• The link between stock price and earnings per share
• Dividend discount models and multiples
• Valuing a business by discounted cash flow

Introduction to risk and return and estimating the cost of equity capital

• Introduction to Risk and Return
• Measuring and Calculating Portfolio Risk
• Individual Securities Affecting Portfolio Risk

Net present value and other investment criteria

• Payback
• Internal Rate of Return
• Choosing Capital Investments when resources are limited

Applying the investment criteria in corporate decision making

• Making Investment Decisions with the Net Present Value Rule
• Applying the NPV rule

The Weighted Average Cost of Capital

• Calculating the WACC
• The WACC in practice

Capital structure

• Capital structure theory
• Tae and the capital structure

Payout policy

• Alternative payout methods
• Payout taxes and signaling theory

Working capital management

• Credit policy
• Managing cash
• Inventory Management

Financial planning

• Long term planning
• Short term planning
• Cash flow budgeting

• You will understand the basic principles in modern finance theory,
• You will be able to implement theoretical knowledge and formulas in everyday managerial problems,
• You will apply acquired knowledge in setting out capital budgeting problems,
• You will assist decision making with regard to investment and capital expenditure problems,
• You will comprehend the implications of risk in capital markets,
• You will assess and manage corporate payout policy and corporate capital structure.

Importance and impact of trade credit

• The nature of credit
• Why grant credit
• Is cash really king ?
• Cash flow and liquidity risk
• Credit and the customer relation

Granting credit

• The 5C’s of credit risk
• Credit risk assessment
• Rating agencies and information providers
• Credit scoring
• Altman Z model
• Qualitative models
• Determining and using credit limits
• Data collection
• Data as an investment
• Credit portfolio

Credit collection

• Customer follow up
• Collection techniques

Organisation of the credit department

• Credit procedures
• Organising the customer relation
• Measuring performance
• Balanced scorecard
• Using external partners

Integrated credit management

• Collaboration with sales
• Credit marketing
• Credit management as part of the strategy
• Integrated Credit Management

• You will understand the importance of trade credit and the impact of professional credit management.
• You will understand and be able to use different techniques to evaluate the creditworthiness of a company.
• You will understand how credit management can improve the customer relation.
• You will understand the impact of different collection techniques.
• You will understand different methods for risk reduction.
• You will be able to organise the complete credit management process.
• You will know how to introduce the awareness on the importance of credit management in the whole organisation.

The aim of the seminar is to present up-to-date Credit Risk evaluation techniques and clarify the characteristics, on which, it relies either directly or indirectly.

• Entrepreneurs
• Financial Management and Credit Control Executives
• Business Management and Marketing Executives
• Supply Chain Executives
• Business loan managers
• Investment Bankers
• Economic Analysts
• Credit Analysts
• Risk Officers of Banking and Credit Institutions
• Banking Finance Analysts, Lecturers, etc.

Long-term risks

• PESTEL analysis
• Key Macroeconomic indicators:
• Government spending
• Investment (Foreign Direct Investment-FDI)
• Exports versus imports
• Monetary policy
• Social-demographic issues
• Technology
• Environment
• Legal-regulatory issues
• Business cycles

Industry/sectoral risks

• Product life cycle
• Understanding the operation of each industry's market -

What are the key-drivers that govern the industry?

• Competitive strategies
• Profitability
• Working capital requirements
• Capital expenditure
• Asset conversion cycle
• Different types of manufacturing
• Understanding competition
• Porter's five forces model (Tool for evaluating the competitive position of a company)

Corporate risks

• Understanding the company's business model
• What drives its revenues and costs
• Business operations
• Key Performance Indicators - (KPIs)
• Strategic analysis:
• SWOT Analysis
• Ansoff Matrix

Credit Risk Management Case Study

• "TradeCo" Corporation
• REVIEW OF RECORD OF COOPERATION
• Preliminary Credit Approvals
• Collaterals
• Business Data
• Overdue Debt Analysis
• RECORD OF DETERIORATING COOPERATION
• RECEIVABLES SETTLEMENT AGREEMENT
• PRELIMINARY NEGOTIATION STAGE
• What is requested:
  1. To determine the approach/strategy to be chosen 
  2. To determine specific recommended legal or business action, and justify their selection

• To identify short-term and long-term industry/sectoral and corporate risks
• To implement a structured approach on evaluating the corporate credit policy
• To calculate and interpret key financial indicators that are used in the credit rating process of businesses
• To interpret financial statements appropriately and identify their vulnerability
• To understand cash flow dynamics and the effects of loan provision (positive/negative)
• To determine the key structural risks during loan provision to a group of companies

• Financial Management and Credit Control Executives
• Credit Rating Analysts
• Sales and Marketing Executives
• Supply Chain Executives
• Business loan managers
• Investment Bankers
• Economic Analysts
• Risk Officers of Banking and Credit Institutions
• Banking Finance Analysts, Lecturers, etc.

• Credit Risk Analytics, Modeling & Scorecards
• PD, LGD, EL modeling methodologies
• Application, Behaviour, Collections scoring/development and monitoring
• Scorecards in the Credit & Collection process
• Account centric vs. Customer centric models
• Individuals, Small Businesses, Corporates: credit methods and approaches
• The macroeconomic factor in credit risk modeling
• Scores and Ratings/Qualitative factors
• Models implementation/Tools & Systems
• Data, Big Data and alternative data sources
• Addressing the problem of insufficient historical data
• Modeling for IFRS9 requirements

• You will learn the development methodology of credit models and you will be able to identify strengths and weaknesses
• You will become familiar with the development methodology of models according to the IFRS9 standard
• You will be able to identify problems in the performance of models, and interpret the results of adequacy controls
• You will become familiar with credit risk evaluation methodologies for businesses
• You will learn more about the methodology of data management and problem solving
• You will be able to recommend action and make credit policy decisions based on the results of the models

The aim of the seminar is to present a working model of the credit insurance cycle and the evaluation criteria for selecting it to secure doubtful loans

• Entrepreneurs
• Financial Management and Credit Control Executives
• Debt Collection Managers
• Business Management Executives
• Supply Chain Executives
• Trade Credit Insurance intermediaries and professionals who advise customers

• Benefits of credit insurance:
• Secure turnover growth
• Preventing/avoiding doubtful loans
• Objective Credit Management
• Liquidity in case of a doubtful loan/compensation
• Easier and cheaper financing/working capital
• What are the Credit Insurance mechanisms
• Why is Credit Insurance necessary today
• Geopolitical risks, which affect the sustainability of businesses
• Credit Insurance before and after the crisis
• Fraud cases
• Case studies
• Best Practices

• You will be able to assess the risk from a default receivable and the effects on the company and its shareholders
• You will understand the structure of business credit insurance and its key characteristics
• You will become familiar with the concept of cost of credit and its effect on the company's profitability
• You will learn about the compensation procedure
• You will practice on setting the credit limit of a customer according to their credit risk
• You will understand how credit risk assessment is performed by the Underwriting department of an insurance company

1. Elements of Private International Law
   1. Introduction
   2. Applicable Law
   3. Jurisdiction
   4. Conflict of Laws
2. Interplay of Applicable Law in Foreign Transactions
   1. Main Transaction
      1. Creditor
      2. Debtor
      3. Stakeholders
   2. Securing Credit Transactions
      1. Consensus
         1. Lien - Mortgage
         2. Security collateral (stocks-shares-movable assets)
         3. Registered Pledge
         4. Assigned Receivables
         5. Assumption of debt
         6. Letter of Credits
         7. Insurnace
      2. By  Interim Measures – Injunction
         1. Provisional Order
         2. Lien
         3. Precautionary Seizure
         4. Judicial Sequestration
3. Litigation
   1. Mediation
   2. Arbitration
   3. Lawsuit
   4. European Order to Pay
4. Key Topics
   1. Statute of Limitation
   2. Defrauding Creditors
   3. Transfer of Group of Assets
5. Enforced collection of receivables
   1. Seizure of movable & immovable assets
   2. Third party seizure
   3. Auctioning
   4. Classification & Privileges of Creditors
6. Cross border insolvency
   

• You will become familiar with legal concepts about credit
• You will better understand the overall legal framework of credit
• You will get a deeper understanding of risks associated with credit
• You will analyze the requirements and needs, main characteristics, and risks of counterparties in transactions
• You will improve the ability to forecast and evaluate transactions with your counterparties on a transnational level

• Entrepreneurs
• Financial Management and Credit Control Executives
• Data Protection Officers
• Chief Compliance Officers

The current global environment and the economic climate have given rise to the need for a constant increase in the need for experienced professionals in building forecasting models, since enterprises are required to predict different scenarios about the future in order to better adapt to an unstable and uncertain environment. A solid understanding of cash flow forecasting can provide increased visibility, reduced risk, and improved availability of cash across the business will improve operation efficiency, reduce risk and enhance decision support, create value and will provide significant competitive advantage. Cash flow is critical for the success and sustainability of a business. In this seminar, you will learn cash flow and working capital management to maximize the use of cash.

• Chief Financial Officers, Credit Rating Managers, Accountants, Financial advisors and financial analysts
• Entrepreneurs with moderate experience in the preparation of financial models
• Financial controllers, Working capital managers, Business development managers
• The participants should have access to Excel and be familiar with its basic functions.

• Constructing and analysing the cash flow statement 
• Performing and interpreting cash flow ratios 
• Understanding the priority of cash flows and identifying cash flow problems 
• Explaining the impact of working capital on cash flow 
• Using excel cash flow forecasts to structure an organisational debt facility
• Using sensitivity analysis to assess the impact of risk events on the company’s ability to service debt
• Forecasting the key figures of the Profit and Loss Account and the Balance Sheet
• Forecasting techniques (linear regression, non-linear methods).
• Sensitivity analysis

• Become familiar with building the three financial statements (Profit and Loss Account, Statement of Financial Position, and Cash Flow Statement) and interlinking them.
• You will understand the evaluation method of companies and learn the relevant multipliers and (evaluation) models.
• Become familiar with uncertainty management methods by building various scenarios about the future.
• Learn how to evaluate the parameters that are more important for specific financial key performance indicators (KPIs) and make remedial decisions to improve them.
• Describe the impact of working capital management on cash flow.
• Analyze liquidity and the cash flow position of organizations including free cash flow. 
• Apply cash flow forecasting techniques and ratio analysis related to cash flow. 
• Review of Cash flow statements in IFRS and the three blocks of cash flows under IFRS / and the six blocks under IAS 7.

1. Collection Tree
   1. Monitoring
   2. Non Performing
   3. Default
   4. Litigation 
2. Organizing Operations 
   
   1. Workflows
   2. Reporting and analytics
   3. Technology
   4. Outsourcing?
3. Human Power 
   
   1. Hiring
   2. Communication
   3. Training
   4. Incentives
4. Operations Key Points 
5. Collection KPIs’ 
6. Cost Control 
7. Compliance

• You will become familiar with debt collection operations  
• You will better understand the overall escalading structure of collection departments
• You will get a deeper understanding of key factors for better performance and results
• You will improve the ability to forecast and evaluate debt risks
• You will be updated on current trends in collections techniques
• You will learn ways to monitor and measure collections performance
• You will be able to provide added value to your enterprise or the organization that employs you

• ERM Getting started
• KRIs vs. KPIs
• Credit Risk
• Why Monitoring
• How Monitoring
• Frameworks for Credit Risk Reporting