THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
The Working Capital Management Virtual Conference
Theme: Maximizing agility and resilience for business continuity.
Date: 9th – 10th June 2021
Venue /Platform: Online /Zoom
OVERVIEW
Effective working capital management is a vital skill for the modern professional accountant and is also a major driving force for business survival during this COVID-19 pandemic era. Working capital management majorly involves optimizing current assets & liabilities to ensure an entity is sufficiently liquid at any given time.
This involves striking a favorable balance between the main components of working capital: trade receivables, inventory, cash and bank balances and trade payables. This is majorly influenced by an entity’s day to day operations and is essential for fundamental financial health and overall successful performance.
The concept of liquidity, cashflow and working capital is anchored on IAS 7 Statement of cash flows whose objective focusses on presentation of information about historical changes in cash and cash equivalents of an entity by means of a statement of a statement of cashflows. This analyses changes in cash and cash equivalents during a period.
It is evident that the foundation of sound decision making is having the right information, particularly with respect to the financial position of an entity. This is especially critical during this crisis period of the CIVID-19 pandemic.
This training seeks to equip participants with the best practices to manage available recourses for day-to-day operations to improve the liquidity position of an organization. Additionally, it is also geared towards mitigating risks and making room for management to take advantage of unexpected opportunities such as favorable trade credit terms, attracting potential investors and planning for the next and subsequent businesses transition processes.
A seamless transition will ensure continuity in the current harsh economic times as well as maintain a solid balance between profitability, business growth and liquidity.
As the pandemic continues to ravage the economies globally, it makes it clear that the methodology in which an entity manages its working capital will be core determiner if it will merely survive or emerge victorious.
Needs for working capital may vary from industry to industry due to major factors such as differences in revenue collection, cash outflow policies, timing and nature of asset acquisitions among other considerations. It is against this backdrop that ICPAK has organized this conference to address key considerations around this critical topic. The following key areas shall form the basis of discussion during this important virtual conference.
- Definition and in-depth discussion on the key components of working capital management
- Top industry working capital management practices for business survival during this covid19 pandemic period.
- Transformational working capital management and its impact on accountants and decision making.
- Risk mitigation and various challenges faced by firms in WCM.
- Data transparency and analytics
- Effective cashflow management strategies
- Precise cashflow forecasting
- Best budgeting practices
- Planning for short, mid and long term
- Financial impact of covid 19 on liquidity
- Vital controls on liquidity and WCM
- Managing tax implications on liquidity and WCM
- Working capital framework and key financial performance indicators
- Working capital turnover ratio
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 10 Structured CPD Units upon successfully completion of the Webinar.
FINANCIAL COMMITMENT:
The Webinar charges are Kshs. 10,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory.
NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
Further requests can be channeled to us via telephone calls on +254 719 074 000, (+254) 733 856262 or via email to onlinelearning@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.