Course description
Being able to make appropriate choices during procurement projects based on financial data and making financial decisions that affect the supply chains are critical skills for the procurement professional. This course will give you an understanding of the role of accounting and finance in management and business. It introduces the frameworks for financial accounting, managerial accounting, and corporate finance, and provides an understanding of the information provided by accounting and finance to support decision making by procurement and supply managers and organisation leaders.
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Outcome / Qualification etc.
What will I learn?
As part of this course, you will have access to pre and post work activities online to help you prepare and reflect on your training. You'll learn how to lead on decisions that use financial data such as budgeting for procurement projects, supplier selection, investment opportunities, and assess commodity and currency fluctuations. This course uses several practical exercises and prior to the course delegates will be provided with appropriate prereading and preparation work to help them get the best out of the two days virtual learning.
What are the learning objectives?
By the end of this course, you will be able to:
- Articulate the different roles of financial accounting, management accounting and financial management in terms of the business
- Understand, critically analyse, and interpret financial statements and budgets
- Understand the significant role of budgeting and develop and critically evaluate
organisational plans that align incentives and reward to organisational performance and success - Apply and critically appraise fundamental techniques of costing and costing systems and critically evaluate the uses and drawbacks of alternative investment appraisal techniques in dealing with resource constraints, within the context of a dynamic marketplace
- Lead continuous monitoring of the impact of financing structures on the organisation, key suppliers or customers, and take actions to reduce and mitigate associated risks
Course delivery details
- Your skills training will comprise of online learning and a tutor-led session.
- Online pre-learning and course materials will be available on the CIPS Learning Mangement System up-to one month ahead of your training session and should be completed before day 1 and day 2.
- The virtual classroom will open 15 minutes before your session.
Why choose Chartered Institute of Procurement & Supply
95% of our students tell us that CIPS qualifications are the standard for the profession
Professionals with MCIPS on average earn 20% more
Reviews
Average rating 4.7
Tutor is really great. He has turned a difficult subject to follow for beginners, to an interesting one.
I really liked the course since it is a difficult topic to explain in a simple and entertaining way in two days, however the tutor has successfully managed to get my attention a...
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We are CIPS, the Chartered Institute of Procurement & Supply
A global membership organisation driving positive change across our profession. CIPS are the voice and standard, defining and amplifying best practice across all our worlds. We help build capability within organisations. Diagnosing, troubleshooting and training. We’ll work with your organisation...
I enjoyed every minute of this training. The tutor, Paul, is probably one of the best Trainers I ever meet, and I had a lot of trainings in last 20 years. It would be great if y...