V.P. of Finance, Shareholders, Cost-Centre Managers, Members of the Board, Production Supervisors, Controllers and Accountants.

• Initiate participants to the fundamental concepts upon which rest the application of the accounting principles that are followed by businesses in the preparation of their financial statements;
  
  
• Pass on basic knowledge about reporting standards for financial statements;
  
  
• Teach participants how to use accounting information within the framework of analyzing financial statements;
  
  
• Initiate participants to management accounting tools such as budgets, cost-volume-profit analysis reports and operating reports;
  
  
• Develop a critical frame of mind with regard to financial statements by addressing ethical notions concerning the manipulation of results;
  
  
• Propose a collection of concepts, methods and instruments which allow participants to form a relative appreciation of the business’ position, when judging performance, the quality of results, and vis-a-vis the risks that could affect its position;
  
  
• Introduction of various elements of financial statements (balance sheet, statement of income, statement of retained earnings, cash-flow);
  
  
• Description of the elements constituting each item within the financial statement and the regulations concerning the evaluation and presentation of such financial statements;
  
  
• The objectives and analytical methods used in financial statements, both in their qualitative and quantitative aspects. (Here, we begin the interpretation per se of the financial statements and of the notes which accompany them, as well as of the annual report and other sources of information available in the data bases);
  
  
• The role of the cash-flow statement and its interpretation;
  
  
• The study of financial statements, demonstrating the inter-relationships between the items in financial statements, the use of ratios and the questions that they raise;
  
  
• The behavior of costs and cost-volume-profit analysis;
  
  
• The budgeting process;
  
  
• Cash management (cash-flow budget);
  
  
• Operating reports;