--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

Onsite Seminar

Finance

Advanced Finance & Global Economics for the Supply Management Professional

Overview

In recent years the world's economy has been undergoing significant changes, not the least of which was the recent financial crisis. Add to this globalization and the fundamental changes in accounting coming with the conversion to International Financial Reporting Standards (IFRS) and there are new pressures on Supply Management Professionals to learn, understand and use these tools. In this course we will demonstrate what you need to know and how to put this knowledge to work in your procurement policies and decisions.

Learning Objectives
  1. What is new, critical to know in Accounting
    1. International Financial Reporting Standards (IFRS)
    2. IFRS vs. GAAP
    3. Financial vs. Managerial Accounting
  2. What is critical to know in Global Economics
    1. Purchase Power Parity
    2. Economic indicators: leading vs. lagging vs. coincidental
    3. How the business cycle impacts decisions
    4. Why the key to planning is understanding the relationship between gross domestic product, unemployment, and inflation.
Seminar Outline
  1. What is critical to know in Accounting; What is new in accounting?; Revenue recognition; Fair value accounting
  2. What is IFRS?; How to compare IFRS to GAAP; Why does Managerial Accounting give us a better picture of what things cost?
  3. Financial vs. Managerial Accounting; Financial accounting approach to costs; Managerial accounting approach to costs
  4. What is critical to know in Macro Economics?; What is Macro Economics?; Macro vs. Micro Economics; What is Purchase Power Parity (PPP)?; How do we calculate PPP?; Inflation: friend or foe?
  5. The business cycle; What is the business cycle?; How the business cycle impacts decisions; Economic indicators: leading vs. lagging vs. coincidental; How to use economic indicators to plan better; Why the key to planning is understanding the relationship between gross domestic product, unemployment, and inflation.

© Institute for Supply Management™ - All rights reserved



Rate and Review this item

Rate this item:



Log in to rate or review this item.