The course is based on an experiential learning through exercises methodology. It introduces the modern training concept at the introductory level, beyond which it engages in participatory learning modules to fulfill the Action-oriented Approach that is the core of the applied training philosophy. This training course teaches the participants through real life business simulations the preparation of Financial Statements; income statement (profit & Loss), cash flows statement, and balance sheet statement.
Through specifically designed case studies, participants practice how to calculate the total investment cost of a project. This exercise prompts participants to identify and collect the data needed to carry out the assignment. The exercise hence raises the participant’s awareness of the main components of financial planning; fixed capital, pre-operating-expenses, working capital, and production costs. The candidate is ultimately able to prepare financial statements and practice how to use them as tools to aid with financial and investment decision making. The participant will understand the importance of the financial plan as a major component of a business plan.
Training Course Outcome
At the end of the training course, participants will be able to:
- Assess the total project cost, prepare the financial plan of their proposed businesses, and calculate the working capital requirements of their proposed businesses.
- Gain awareness of the need to use profit and loss (P&L) statements in projecting the profitability of their proposed businesses, and organize income and expenses into P&L format.
- Formulate realistic business assumptions.
- Understand the significance of the balance sheet in managing a small business.
- Learn how to draw the financial statements of an enterprise according to local tax authorities’ requirements, implement their work on the financial statement with the help of commentaries and suggestions of experienced book-keepers, tax inspectors and bankers.
- Know the basic cost elements, be able to distinguish variable and fixed costs, and understand how to calculate their profit and loss.
- Appreciate the importance of cash flows in assessing the liquidity and viability of their proposed enterprises, apply the easy steps in preparing cash flow projections, and use the cash flow methodology in preparing their business plans.
- Understand the importance of the financial plan in preparing the business plan; apply the principles and formats in the preparation of the financial aspects of their business plan.
- Refine the financial plan based on the feedback of experts or advisors.
Who Can Attend the Course ?
- Potential entrepreneurs.
- Start-up business.
- Project officers.
About Entrepreneurship Training & Development Center
We_They DMCC was established in Jumeirah Lakes Towers “JLT”, Dubai, UAE to fill the existing gap in training programs that empower entrepreneurial competencies among potential and existing entrepreneurs. This shortage of We_They providers was outlined by empirical studies, research papers, and the practical experience of experts involved in business support services in the UAE and Arab countries.
The center aims to enable candidates to acquire entrepreneurial competencies by using the practical methods of an Action-oriented Approach. Participants learn by doing how to enhance business development and growth. In collaboration with international training providers using the best practices in training programs and methods in the world, the center aims to fill the existing gap in entrepreneurial training in the Arab States and Africa.See all Entrepreneurship Training & Development Center courses