The Indian Institute of Management (IIM) Raipur’s Management Development Programme (MDP) on Finance for Non-Finance Executives commenced on Thursday with participation of executives and entrepreneurs from the entire country.
The programme is designed for executive managers and senior executives in non-financial positions who need to improve their financial skills, said an press release.
Prof. B.S. Sahay, Director, IIM Raipur, urged the participants to make the best use of the three-day programme which would enable them to shape critical business decisions on cost-savings, budgets, new projects and growth strategies.
Prof. K.K. Ray, one of the Programme Directors, educated the participants about the basic building blocks and jargons of accounting & finance; shareholders’ wealth maximization and business objectives.
Enlightening the participants on the Indian Financial System and Stock Market Operations, he also talked about the important financial entities such as financial markets, financial instruments and financial authorities.
Prof. Vinay Goyal, Programme Director, spoke on the basic accounting principles and processes. The participants were also taught on the concept of value of money, which was taken by Prof. Venkat Vijay.
He covered topics such as time value of money; discounting rate, present value and future value, and risk & return analysis in financial decision making.