GOIC hosts training course for SMEs
Participants from GCC and Yemen attend the workshop
DOHA, April 28: The Gulf Organization for Industrial Consulting (GOIC) started a training course entitled “Basic Financial Analysis for SMEs” at its headquarters in Doha, Qatar, on Sunday, April 24, 2016, and was attended by participants from different GCC countries and Yemen. The training was to continue until Thursday, April 28, 2016.
GOIC Secretary General Abdulaziz Bin Hamad Al-Ageel gave the opening speech in which he underlined GOIC’s relentless efforts to develop the industrial labour force’s skills in GCC countries.
He explained that this training course is part of GOIC’s Training and Capacity Development Program (TCD).
The workshop included owners of SMEs that are currently operational or still under construction, investors seeking to establish SMEs, investment managers at different SMEs and parties in charge of financing SMEs at financing banks.
The training aims at introducing necessary financial analysis tools generally used to analyse financial data provided by periodic accounts or reports of institutions and companies.
These financial analyses allow owners of SMEs to understand key relationships between various cost elements on the one hand, and between these elements and income and sources of funding on the other.
In fact, the good understanding of these relationships and their mutual influence is at the basis of sound and timely decision-making.
The training course includes several topics such as differences between megaprojects and SMEs from a financial perspective, objectives of financial analysis, financial analysis applications for existing and future projects, various key cost sections and the importance of their classification, the components, structure and sources to finance investment projects and the effect of the source of financing on the project results and decisionmaking process.
Furthermore, the workshop will shed light on working capital estimation and its importance to the production cycle, main components of annual production costs and the importance of their classification, components of final accounts and their analysis methods, analysis of production costs and income using percentages, calculation of key financial indicators for future projects, investment and financing decisions and the increase of efficiency and operations and their relationship with financial indicators.
The training is delivered by Mustapha Al-Mahdi Nasser, expert in financial analysis for industrial projects at GOIC. Nasser has a cumulative expertise of more than 30 years in the field of financial analysis of projects, investment assessment, the set-up of companies and their restructuring.
GOIC offers a number of training workshops to concerned parties according to their specific needs in various fields through the Organization’s Training and Capacity Development Program (TCD).
The objective is to increase individual and organisational skills in the industrial sector of GCC countries and Yemen. You can register online www.goic.org.qa or via Facebook, Twitter and LinkedIn.