Equip employees of companies entering the Hungarian market with in-depth knowledge of financial controlling and cash flow management. The training will provide both theoretical understanding and practical tools, enabling participants to efficiently manage financial operations in Hungary.
Content: Overview of the controlling function in Hungary and its relevance in a cross-border context. Differences between accounting and controlling, key roles of a financial controller, and interaction with other departments (e.g., HR, procurement, and sales).
Importance: Understanding the scope and duties of controlling is crucial for managing the financial health of the company in Hungary, ensuring compliance, and aligning operations with strategic goals.
Content: Detailed walkthrough of balance sheets, income statements, and cash flow statements. Practical examples of interpreting these financial documents for decision-making.
Importance: Controllers must be proficient in reading and analyzing financial statements to offer actionable insights and align corporate goals with financial health.
Content: Best practices in budgeting and forecasting specific to the Hungarian financial landscape. Techniques to create realistic forecasts and set financial KPIs.
Importance: Accurate budgeting and forecasting are vital for anticipating financial needs and setting clear business objectives, thus reducing financial risks.
Content: Explanation of variance analysis and its application in monitoring financial performance. Emphasis on cost, sales, and profit variances.
Importance: Variance analysis allows controllers to identify discrepancies between forecasts and actual results, enabling better decision-making.
Content: The concept of cash flow, its importance in business continuity, and the difference between cash flow and profit. Understanding operational, investment, and financing cash flows.
Importance: Effective cash flow management ensures liquidity and enables companies to avoid insolvency while maintaining operational efficiency.
Content: In-depth session on preparing and analyzing cash flow statements. Understanding how to extract cash flow-related information from financial statements and manage working capital efficiently.
Importance: Mastery of cash flow statements is essential for maintaining liquidity and ensuring that the company can meet its short-term obligations.
Content: Techniques for forecasting cash flow, including direct and indirect methods. The importance of cash flow projections in financial planning, particularly for multinational operations in Hungary.
Importance: Accurate forecasting of cash flows helps companies anticipate financial challenges and ensures that resources are allocated effectively.
Content: Practical strategies for optimizing cash flow, such as managing accounts receivable/payable, inventory management, and supplier payment terms. How to leverage credit lines and manage currency exchange risks in Hungary.
Importance: Optimizing cash flow is critical for maintaining a company’s financial flexibility and minimizing operational disruptions in Hungary.
Content: Linking cash flow management with controlling processes. The role of cash flow analysis in budget variance and financial decision-making.
Importance: An integrated approach ensures that financial controlling informs cash flow strategies and vice versa, optimizing overall financial health.
Content: How to present financial information to management for strategic decisions. Focus on customizing reports for different stakeholders (e.g., CEOs, CFOs, department heads).
Importance: Tailored financial reporting ensures that management can make informed decisions that align with corporate objectives and liquidity requirements.
Content: Participants will work in groups on a Hungarian company case study involving cash flow and controlling issues, making financial recommendations based on real-world data.
Importance: This hands-on session will solidify the theoretical knowledge and give participants confidence in applying their skills in real-world situations.