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Finance for Procurement Professionals – Introduction

Home Courses Finance for Procurement Professionals – Introduction

This introductory course will provide a working knowledge of accounting and finance, specifically aimed at how to evaluate and understand a given supplier at a point in time, as well as providing a basis to manage risk or make key decisions.

This course will help delegates understand key statements such as profit and loss, balance sheet and cash flow. Gaining an introduction to accounting and finance is a key skill for anyone working with important suppliers, and provides a sound basis for supplier qualification and risk management.

Finance for Procurement course - classroom and online training - Introduction

Course Content

Introduction to finance and understanding the supplier’s position

  • Introduction to accounting and finance
  • Understanding the supplier’s position
  • Introduction to the building blocks of financial information
  • Key financial statements including Profit and Loss, Balance Statement and Cash Flow Statement

Application of financial information

  • Analysis of a supplier using ratios and key metrics
  • Identify key supplier financial information
  • Financial reporting supporting company decision-making
  • Insights into supplier costs
  • Understand the structure of different payment terms
  • Insights into supplier costs
  • Getting the full picture of a supplier’s capability

Learning objectives

By the end of this course, delegates will be able to:

  • Describe how financial systems and reporting helps the decision-making and running of an organization
  • Understand a supplier’s financial position, both overall, and for specific products/services, in effective procurement practice
  • Describe the different ways procurement teams can understand the suppliers’ position and the associated difficulties
  • Interpret key financial statements including Profit and Loss, Balance Sheet, Funds, Flow/Cash Flow
  • Perform basic analysis of supplier financial information using key ratios and metrics
  • Describe and utilize ways to obtain key supplier financial information
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Course Catalogue

To download our Training Course Catalogue, please click the link below.

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Get in Touch

If you’d like to discuss how our training, platform and package options could work for your organization, please click below or call us on +44 33 00 94 0000.

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