Completed notes of the course v2

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AFC lessons Three parts divide the exam: - Group work o Financials for business o Driver based budget - Written Test - Oral Assessment - A  Accounting, to identify, record and communicate info that are relevant, reliable, and comparable to help users make better decisions; it is the main language inside the business It is divided in two forms: a. DEBITS  Money u’ll receive b. CREDITS  Money goes out Need to manage these data - F  Finance, it is the final moment (when you pay). There are two main activities:  How money is managed to  How it can be processed by acquiring new sources - C  Control It’s composed on a set of techniques helping on defining actions and resources as well as controlling the achievement of objectives The reason why all these three fields are considered together is that in this way we can support strategic decisions (top level decisions, management and operating ones internally, investments and financing externally) SOLUTION: DECISION MAKING All in all,  Accounting o Financial recovery o Financial statement analysis o Financial statement consolidation  Finance o Cash flow o Relative Valuation o Value proxies  Control o Planning and control cycle o Budgeting o KPIs, Corporate costs, TPS, variance analysis – KPIs, Corporate costs, TPS, variance analysis o Reporting and dashboard The reason why all these three fields are considered together is that in this way we can support strategic decisions (top level decisions, management, and operating ones internally, investments and financing externally) Some concepts:  For profit company aims at realizing an output by using three different categories of input and the company is producing value if the value of the output is higher with respect to the value of the input  Shareholders: the ones who…