Training on the financial management of the company

The Forhom Institute was responsible for preparing and facilitating a 2-week training session in La Rochelle (France) to build the capacities of 7 financial controllers and accountants from the Compagnie Malienne de Développement des Textiles (CMDT) in corporate financial management.

The key objectives of the training course were to learn the main mechanisms of the economic and financial management of a company. At the end of the training course, participants were able to read a company's accounting and financial information, understand the parties involved and the issues related to domestic and international payment methods, and be familiar with exchange systems.

The training course focused on the following four topics:

Topic 1 – Managing the financial resources of the company

• Reading and interpreting the balance sheet, income statement and appendices.
• Structuring and checking the processes and procedures that ensure the reliability of output data, accounting and tax results.
• Planning the work for producing the mandatory documents.
• Calculating intermediate management balances, analysing cash flows, building and implementing provisional budgets.
• Monitoring budgets and analysing variances.
• Monitoring cash flow and controlling associated finance costs.
• Preventing bad debts in order to control the financial viability and the positioning of the structure in its environment.

Topic 2 – Ensuring financial equilibrium and the development of the company

• Extracting and presenting useful information.
• Validating the relevance of investments in relation to the capacity for self-financing.
• Analysing the activity, margins, and break-even point of your company.
• Calculating and analysing Key Performance Indicators - economic and financial (free cash flow).
• Identifying short-term financing options for the operating cycle.

Calculating intermediate management balances.

Topic 3 – Payment methods and instruments

Topic 4 – Interbank exchange systems and the circulation of means of payment

Swift Alliance, SwiftNet: features, setting up and benefits

• Organising the company to satisfy customer needs under conditions of profitability and risk control (flexibility of costs).
• Setting up and operating the budget procedures and the monitoring dashboards.
• Cash, cheque, credit card, direct debit and transfer
• Bills of exchange and promissory notes
• The Dailly Law
• Documentary credits and discounts
• Transfers (SWIFT)
• The European model: SEPA
  • Concepts and bodies
  • Bank accounts
• Instruments for connectivity between the Bank and its clients:
  • IBIC'S protocol, IP

The Forhom Institute provided the following services for this training course:

• Preparation of the training course.
• Mobilisation of an expert trainer for 5 days of training.
• Facilitation and evaluation of the training course.

Preparation and delivery of certificates, training report and training documents in electronic format.