Monthly Archives: April 2017

Finance and Costing for SMEs

SME

Indian Small and Medium Enterprises (SME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. These enterprises play a catalyst role in the development of industrial and commercial activities.

Many successful managers and businessmen do not have any formal training in finance. Applying concepts of financial management is key to making right decisions and ensuring maximum returns. If you need a basic understanding of financial statements, product costing and working capital management, this is the course for you.

This course will help you to answer the following questions – How healthy is this business? What does the balance sheet tell me? How much is the company worth? Is this project really profitable? What do those annual reports mean? For how much should I sell the product? What are the costs involved? How do I manage my day-to day running of the business?

Who should attend?
Anyone working in SME sector. No prior knowledge or background in finance/accounting required, since the program would start from the basics of finance.

Deliverables:

On completion of this course, the participants would be able to:

  • Read the financial statements – Balance Sheet and Income Statement
  • Do Product Costing and know BEP Analysis
  • Understand the meaning and importance of Working Capital
  • Understand Budgeting and different types of budgets

Course Contents:

An Overview of Finance

  • Forms of Business Organizations
  • Primary and secondary market

How to Read the Balance Sheet

  • Share Capital
  • Capital and Debt
  • Reserves and Their Uses
  • Fixed Assets – Their Composition and Definition
  • Schedules to Balance Sheet
  • Creditors and Debtors
  • Deferred tax liabilities

How to Read Income Statement

  • Gross and Net Revenue
  • Operating and Other Income
  • Cost of Goods Sold
  • Gross Profit
  • Expense
  • Depreciation
  • Profit Before Tax and Profit After Tax
  • Extra-ordinary and exceptional items

Cost Accounting and Budgeting

  • Break-Even Point and Break-Even Chart
  • Cost Reduction and Cost Control Techniques
  • Product Costing
  • Budgeting and different types of budgets

Working Capital

    • Managing Working Capital
    • Gross and Net Working Capital
    • Operating Cycle

Course Duration: 16 hours
Date    :  18th and 19th May 2017
Time   : 9.30 am to 6.30 pm
Venue : MITSOT Pune
Fees  : Rs 2000/- Per Participant as training charges

Faculty: Dr. Rashmi Paranjpye, MBA, Ph. D (Finance from Pune University) Industry Experience: 17 years, Academic Experience: 10 years

Certification:
On successful completion of the course, participation certificate will be given.

For details / registrations: Contact Prof. Sangeeta Dokey at sangeeta.dokey@mitsot.com, 9130079873 (during 11am.  to  6:00 p.m.)

MITSOT ranked amongst TOP 50 Institutes by Govt. of India

Nirf

Adding another feather to its cap MIT School of Telecom Management (MITSOT) has been featured amongst the TOP 50 Institutes in Management category under the NIRF 2017.​ 

Ministry for Human Resource Development (HRD), Government of India released the India Rankings 2017 on 3rd April 2017 in New Delhi. These Rankings known as National Institutional Ranking Framework (NIRF) are Rankings of Higher Educational Institutions for Performance across the country. Started last year, this year too, the Ministry has ​ranked the top universities, best management, engineering and pharmacy colleges.  ​​

Dr Milind Pande, Project Director MITSOT said MIT School of Telecom Management (MITSOT) is proud to feature amongst the TOP 50 Institutes in Management for the NIRF 2017. It is indeed a humbling experience for MITSOT since these rankings are based on a framework developed by Ministry of HRD, Govt. of India. Moreover, MITSOT is one of the only two institutions from Pune who feature in this list under the management category.

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This framework outlines a methodology to rank institutions across the country. The methodology draws from the overall recommendations broad understanding arrived at by a Core Committee set up by MHRD, to identify the broad parameters for ranking various universities and institutions. The parameters broadly cover “Teaching, Learning and Resources”, “Research and Professional Practices”, “Graduation Outcomes”, “Outreach and Inclusivity,” and “Perception”.

This achievement highlights MITSOT’s strong commitment to continue its focus on core tenets of providing academic excellence, research and industry outreach.

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