FINANCE AND ACCOUNTING FOR SALES AND MARKETING EXECUTIVES (FAP04)

Duration
  • 3 DAYS
Format
  • Online
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Overview

It has been observed that there is a very strong connection between “financial and cost management” and “marketing management” when it comes to planning and implementation of corporate strategy as well as the achievement of corporate goals and objectives. The understanding, cooperation, and collaboration between these two business-critical functions are imperative for the achievement of sustainable growth and profitability of any corporate market-driven organisation. However, in reality, the level of knowledge and understanding of financial and accounting principles amongst many marketing executives remains low and inadequate for the attainment of set goals and objectives. This course is therefore designed and aimed at improving the knowledge gaps of marketing executives with regards to finance and accounting principles and their application in marketing management. It is, therefore, highly recommended that sales and marketing executives are nominated and sponsored to attend this value-laden course.

  • Sales and Marketing Executives
  • Sales and Marketing Managers
  • Individuals that want to switch to sales and marketing
  • Entrepreneurs
  • To improve the knowledge, understanding and appreciation of all sales and marketing executives
    on the strong connection that exists between finance and accounting, the operations of sales and
    marketing, as well as the achievements of corporate financial goals and objectives.
  • To learn and understand basic financial accounting, costing and ratio analysis in relation to sales
    and marketing.
  • To improve the level of financial discipline and to develop entrepreneurial methods of thinking
    among sales and marketing executives.

MODULE 1: FINANCE AND ACCOUNTING

  • Introduction to Corporate Planning: Setting the Goals, Objectives, and Strategy.
  • Introduction to Basic Finance and Accounting Principles.
  • Introduction to Book-Keeping and Accounting: Basic Books of Account and Records.
  • Annual Operating Plan — Financial: Revenue, Balance Sheet and Cashflow Projections.
  • Annual Operating Plan: Financing Options and Roles of Sales Revenue.
  • Product Costing.
  • Pricing and Margin Policy Formulation.
  • Managing and Accounting for Damaged and Obsolete Stocks.
  • Discounting: Price Discount, Trade Discount and Rebates.

MODULE 2: SALES AND MARKETING

  • Setting the Marketing Goals and Objectives
  • Sales Projections: Volume and Sales Revenue
  • Product Profitability Planning: Costing, Pricing and Margin Policy
  • Marketing Strategy: Marketing, Budgeting and Financing
  • Distribution and Delivery Strategy: Cost and Profitability Impact
  • Product Development: Extension, Modification and Discontinuation
  • Market Development: Expansion, Diversification and Export
  • Marketing Performance Measurement: KPIs and Ration Analysis

MODULE 3: CONTROL AND PERFORMANCE MEASUREMENT

  • Credit Control: Policy Formulation and Implementation
  • Customer Accounts and Receivables Management
  • Product Profitability Reporting and Analysis
  • Regional/Geographical Profitability Reporting and Analysis
  • Customer Profitability Reporting and Analysis
  • Salesforce Profitability Reporting and Analysis

MODULE 4: INFERENTIAL STATISTICS

  • Hypothesis testing
  • Business problem 3 solved using correlation and covariance
  • Business problem 4 solved using paired I-tes
  • Business problem 5 solved using t-test equal/non-equal variance
  • Business problem 6 solved using ANOVA single factor
  • Business problem 7 solved using ANOVA two factor with & without replication
  • Business problem 8 solved using Z-test
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