Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
Inhoudsopgave
Hoofdstuk 1: Financieel Management in de Onderneming..................................................................................5
1. Doelstellingen van financieel management.................................................................................................5
1.2 Winstmaximalisatie als doel.......................................................................................................................5
1.3 Tijdwaarde van geld....................................................................................................................................5
1.4 Waardecreatie voor aandeelhouders.........................................................................................................6
2. Controle............................................................................................................................................................7
2.1 fraudes........................................................................................................................................................7
2.2 Financieel management & controles:........................................................................................................7
2.3 Agencyprobleem.........................................................................................................................................7
3. Financiële functie in de onderneming...............................................................................................................8
3.1 Rol van de financiële functie......................................................................................................................8
3.2 Geldstromen...............................................................................................................................................8
3.3 Rol van financieel management.................................................................................................................9
4. Kernopdrachten van de financiële functie........................................................................................................9
4.1 Kernopdracht: Aantrekken.........................................................................................................................9
4.2 Kernopdracht: Aanwenden........................................................................................................................9
4.3 Kernopdracht: Administratie......................................................................................................................9
4.4 Kernopdracht: Analyse.............................................................................................................................10
4.5 Kernopdracht: Anticipatie........................................................................................................................10
5. Organisatie van het Financieel beheer...........................................................................................................10
Hoofdstuk 2: Analystische boekhouding....................................................................................................... 11
1. Algemene, beleids- en kostprijsboekhouding.................................................................................................11
1.1 Rol van accountancy in de organisatie.....................................................................................................11
1.2 Registrerend.............................................................................................................................................11
Aandachttrekkend..........................................................................................................................................11
1.2 Algemene boekhouding............................................................................................................................12
1.3 Beleidsboekhouding.................................................................................................................................12
1.4 Kostprijsboekhouding...............................................................................................................................12
2. Kostenterminologie........................................................................................................................................12
2.1 Traceren & alloceren................................................................................................................................12
2.2 Variabele Vaste kosten............................................................................................................................12
2.4 Directe Indirecte kosten..........................................................................................................................13
3. Break-even analyse.........................................................................................................................................13
3.1 Break-even analyse: definities..................................................................................................................13
3.2 Winst of verlies uit BE-analyse.................................................................................................................14
3.3 operationele hefboomwerking.................................................................................................................14
3.4 Prijszetting in functie BE...........................................................................................................................14
3.5 Beperking BE model..................................................................................................................................14
4. Integrale kostprijsberekening.........................................................................................................................15
4.2 soorten kosten..........................................................................................................................................15
4.4 Keuze omslagsleutel.................................................................................................................................16
4.5 Kostenveroorzaker...................................................................................................................................16
4.6 Integrale kostprijsberekening...................................................................................................................16
5. Activity Based Costing.....................................................................................................................................17
5.1 voorbeeld Cooper & Kaplah.....................................................................................................................17
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,Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
5.2 Oplossing via ABC.....................................................................................................................................17
5.3 Werkwijze bij ABC?...................................................................................................................................17
5.4 Waarom ABC?...........................................................................................................................................17
5.5 Wanneer ABC?..........................................................................................................................................18
Hoofdstuk 3 : De jaarrekening...................................................................................................................... 19
1. De enkelvoudige jaarrekening........................................................................................................................19
1.1. Wat?........................................................................................................................................................19
1.1.1. Balans...................................................................................................................................................19
1.1.2. Resultatenrekening..............................................................................................................................19
1.1.3. Sociale balans.......................................................................................................................................19
1.2. Rapporteringschema...............................................................................................................................20
1.2.1. Rapporteringschema volgens ondernemingsgrootte:.........................................................................20
1.3. Neerleggen JR..........................................................................................................................................21
1.3.1. Wie is niet verplicht een jaarrekening neer te leggen?.......................................................................21
1.3.2. Wanneer JR neerleggen?......................................................................................................................21
1.3.3. Sancties.................................................................................................................................................21
1.3.4. Belfirst...................................................................................................................................................22
2. Controle op de jaarrekening...........................................................................................................................22
2.1.1. IBR (instituut der Bedrijfsrevisoren).....................................................................................................22
2.1.2. Beroepsethiek revisor...........................................................................................................................23
2.2. Financiële Audit van jaarrekening...........................................................................................................23
2.2.1. Verloop financiële audit.......................................................................................................................23
2.2.2. Controleverslag.....................................................................................................................................23
2.2.3. Verklaring over de JR............................................................................................................................24
3. De geconsolideerde jaarrekening...................................................................................................................24
3.1. Waarom consolideren?...........................................................................................................................24
3.2. Geconsolideerde jaarrekening................................................................................................................24
3.3. Consolidatiecriteria.................................................................................................................................24
3.3.1. Dochteronderneming...........................................................................................................................24
3.3.2. Geassocieerde vennootschap...............................................................................................................25
3.3.3. Consortium...........................................................................................................................................25
3.4. Consolidatiemethoden............................................................................................................................25
3.4.1. Integrale consolidatie...........................................................................................................................25
3.4.2. Evenredige consolidatie.......................................................................................................................26
3.4.3. Vermogensmutatiemethoden..............................................................................................................26
3.5. Consolidatieprincipes..............................................................................................................................26
3.6. Correcties & eliminaties..........................................................................................................................27
4. IFRS (International Financial Reporting Standards).......................................................................................27
4.1. Wat?........................................................................................................................................................27
4.1.1. Welke rapporteringstandaard?............................................................................................................27
4.2. Doel van invoering...................................................................................................................................27
4.3. IFRS Belgian GAAP..................................................................................................................................28
5. Toepassing: jaarrekening lezen......................................................................................................................28
5.1. Verklaar volgende begrippen in één zin..................................................................................................28
5.2. Verklaar het verschil tussen volgende begrippen in één zin...................................................................29
Hoofdstuk 4: Financiële analyse................................................................................................................... 30
1. Financiële analyse: wat?.............................................................................................................................30
1.2 Financiële analyse: diverse stakeholders.................................................................................................30
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,Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
2. Verticale & horizontale analyse..................................................................................................................31
2.1. Verticale analyse......................................................................................................................................31
3. horizontale analyse.....................................................................................................................................31
4. Solvabiliteit.................................................................................................................................................31
4. Begrip liquiditeit.........................................................................................................................................32
4.1. Current ratio............................................................................................................................................32
4.2. Netto-bedrijfskapitaal.............................................................................................................................32
4.3. Liquiditeit in enge zin: Quick ratio...........................................................................................................33
4.4. Aantal dagen klantenkrediet...................................................................................................................33
4.5. Klantenrotatie..........................................................................................................................................33
4.6. Aantal dagen voorraad............................................................................................................................33
4.7. Voorraadrotatie.......................................................................................................................................33
4.8. Aantal dagen leverancierskrediet & leveranciersrotatie........................................................................34
4.8.1. Beoordeling: Leveranciersrotatie.........................................................................................................34
4.9. Bedrijfsvoeringstrajet..............................................................................................................................34
5. Rendabiliteit...............................................................................................................................................34
5.1. Netto rendabiliteit: eigen vermogen.......................................................................................................34
5.2. Netto rendabiliteit: totale activa.............................................................................................................35
5.3. Verkoopsmarge.......................................................................................................................................35
5.3.1 Rendabiliteitsratio’s: schema: hoe onthouden?...................................................................................35
6. Enkele andere kerngetallen........................................................................................................................35
6.1. Cashflow..................................................................................................................................................35
6.2. Cashflow / eigen vermogen.....................................................................................................................36
6.3. EBIT & EBITDA..........................................................................................................................................36
Voorbeeld: examenvraag...............................................................................................................................36
Hoofdstuk 6: Interne controle, audit en compliance.....................................................................................37
1. interne controle & interne audit................................................................................................................37
1.1. Audit: definitie.........................................................................................................................................37
1.2. Kernelementen definitie audit................................................................................................................37
1.3. Interne controlesysteem.........................................................................................................................37
1.3.1. Audit & internecontrolesysteem..........................................................................................................38
1.4. Interne vs externe audit..........................................................................................................................38
2. Types audit.................................................................................................................................................38
3. Componenten interne controlesysteem....................................................................................................39
3.1. Controleomgeving...................................................................................................................................39
3.2. Risicobeoordeling....................................................................................................................................39
3.3. Controlemaatregelen..............................................................................................................................39
3.4. Informatie & communicatie....................................................................................................................40
3.5. Controlebewaking...................................................................................................................................40
4. Methodologie operationele audit..............................................................................................................41
4.1. Voorbereidingsfase van operationele audit............................................................................................41
4.2. Vooronderzoek........................................................................................................................................41
4.3. Onderzoek adequaatheid internecontrolesysteem................................................................................41
4.4. Onderzoek effectiviteit internecontrolesysteem....................................................................................42
4.5. Auditrapport............................................................................................................................................42
4.6. Operationele audit vs. financiële audit...................................................................................................42
4.6. Opvolging.................................................................................................................................................43
5. Compliancefunctie......................................................................................................................................43
Te kunnen na leren van dit hoofdstuk:..........................................................................................................43
Bron....................................................................................................................................................................44
3
, Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
4
Inhoudsopgave
Hoofdstuk 1: Financieel Management in de Onderneming..................................................................................5
1. Doelstellingen van financieel management.................................................................................................5
1.2 Winstmaximalisatie als doel.......................................................................................................................5
1.3 Tijdwaarde van geld....................................................................................................................................5
1.4 Waardecreatie voor aandeelhouders.........................................................................................................6
2. Controle............................................................................................................................................................7
2.1 fraudes........................................................................................................................................................7
2.2 Financieel management & controles:........................................................................................................7
2.3 Agencyprobleem.........................................................................................................................................7
3. Financiële functie in de onderneming...............................................................................................................8
3.1 Rol van de financiële functie......................................................................................................................8
3.2 Geldstromen...............................................................................................................................................8
3.3 Rol van financieel management.................................................................................................................9
4. Kernopdrachten van de financiële functie........................................................................................................9
4.1 Kernopdracht: Aantrekken.........................................................................................................................9
4.2 Kernopdracht: Aanwenden........................................................................................................................9
4.3 Kernopdracht: Administratie......................................................................................................................9
4.4 Kernopdracht: Analyse.............................................................................................................................10
4.5 Kernopdracht: Anticipatie........................................................................................................................10
5. Organisatie van het Financieel beheer...........................................................................................................10
Hoofdstuk 2: Analystische boekhouding....................................................................................................... 11
1. Algemene, beleids- en kostprijsboekhouding.................................................................................................11
1.1 Rol van accountancy in de organisatie.....................................................................................................11
1.2 Registrerend.............................................................................................................................................11
Aandachttrekkend..........................................................................................................................................11
1.2 Algemene boekhouding............................................................................................................................12
1.3 Beleidsboekhouding.................................................................................................................................12
1.4 Kostprijsboekhouding...............................................................................................................................12
2. Kostenterminologie........................................................................................................................................12
2.1 Traceren & alloceren................................................................................................................................12
2.2 Variabele Vaste kosten............................................................................................................................12
2.4 Directe Indirecte kosten..........................................................................................................................13
3. Break-even analyse.........................................................................................................................................13
3.1 Break-even analyse: definities..................................................................................................................13
3.2 Winst of verlies uit BE-analyse.................................................................................................................14
3.3 operationele hefboomwerking.................................................................................................................14
3.4 Prijszetting in functie BE...........................................................................................................................14
3.5 Beperking BE model..................................................................................................................................14
4. Integrale kostprijsberekening.........................................................................................................................15
4.2 soorten kosten..........................................................................................................................................15
4.4 Keuze omslagsleutel.................................................................................................................................16
4.5 Kostenveroorzaker...................................................................................................................................16
4.6 Integrale kostprijsberekening...................................................................................................................16
5. Activity Based Costing.....................................................................................................................................17
5.1 voorbeeld Cooper & Kaplah.....................................................................................................................17
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,Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
5.2 Oplossing via ABC.....................................................................................................................................17
5.3 Werkwijze bij ABC?...................................................................................................................................17
5.4 Waarom ABC?...........................................................................................................................................17
5.5 Wanneer ABC?..........................................................................................................................................18
Hoofdstuk 3 : De jaarrekening...................................................................................................................... 19
1. De enkelvoudige jaarrekening........................................................................................................................19
1.1. Wat?........................................................................................................................................................19
1.1.1. Balans...................................................................................................................................................19
1.1.2. Resultatenrekening..............................................................................................................................19
1.1.3. Sociale balans.......................................................................................................................................19
1.2. Rapporteringschema...............................................................................................................................20
1.2.1. Rapporteringschema volgens ondernemingsgrootte:.........................................................................20
1.3. Neerleggen JR..........................................................................................................................................21
1.3.1. Wie is niet verplicht een jaarrekening neer te leggen?.......................................................................21
1.3.2. Wanneer JR neerleggen?......................................................................................................................21
1.3.3. Sancties.................................................................................................................................................21
1.3.4. Belfirst...................................................................................................................................................22
2. Controle op de jaarrekening...........................................................................................................................22
2.1.1. IBR (instituut der Bedrijfsrevisoren).....................................................................................................22
2.1.2. Beroepsethiek revisor...........................................................................................................................23
2.2. Financiële Audit van jaarrekening...........................................................................................................23
2.2.1. Verloop financiële audit.......................................................................................................................23
2.2.2. Controleverslag.....................................................................................................................................23
2.2.3. Verklaring over de JR............................................................................................................................24
3. De geconsolideerde jaarrekening...................................................................................................................24
3.1. Waarom consolideren?...........................................................................................................................24
3.2. Geconsolideerde jaarrekening................................................................................................................24
3.3. Consolidatiecriteria.................................................................................................................................24
3.3.1. Dochteronderneming...........................................................................................................................24
3.3.2. Geassocieerde vennootschap...............................................................................................................25
3.3.3. Consortium...........................................................................................................................................25
3.4. Consolidatiemethoden............................................................................................................................25
3.4.1. Integrale consolidatie...........................................................................................................................25
3.4.2. Evenredige consolidatie.......................................................................................................................26
3.4.3. Vermogensmutatiemethoden..............................................................................................................26
3.5. Consolidatieprincipes..............................................................................................................................26
3.6. Correcties & eliminaties..........................................................................................................................27
4. IFRS (International Financial Reporting Standards).......................................................................................27
4.1. Wat?........................................................................................................................................................27
4.1.1. Welke rapporteringstandaard?............................................................................................................27
4.2. Doel van invoering...................................................................................................................................27
4.3. IFRS Belgian GAAP..................................................................................................................................28
5. Toepassing: jaarrekening lezen......................................................................................................................28
5.1. Verklaar volgende begrippen in één zin..................................................................................................28
5.2. Verklaar het verschil tussen volgende begrippen in één zin...................................................................29
Hoofdstuk 4: Financiële analyse................................................................................................................... 30
1. Financiële analyse: wat?.............................................................................................................................30
1.2 Financiële analyse: diverse stakeholders.................................................................................................30
2
,Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
2. Verticale & horizontale analyse..................................................................................................................31
2.1. Verticale analyse......................................................................................................................................31
3. horizontale analyse.....................................................................................................................................31
4. Solvabiliteit.................................................................................................................................................31
4. Begrip liquiditeit.........................................................................................................................................32
4.1. Current ratio............................................................................................................................................32
4.2. Netto-bedrijfskapitaal.............................................................................................................................32
4.3. Liquiditeit in enge zin: Quick ratio...........................................................................................................33
4.4. Aantal dagen klantenkrediet...................................................................................................................33
4.5. Klantenrotatie..........................................................................................................................................33
4.6. Aantal dagen voorraad............................................................................................................................33
4.7. Voorraadrotatie.......................................................................................................................................33
4.8. Aantal dagen leverancierskrediet & leveranciersrotatie........................................................................34
4.8.1. Beoordeling: Leveranciersrotatie.........................................................................................................34
4.9. Bedrijfsvoeringstrajet..............................................................................................................................34
5. Rendabiliteit...............................................................................................................................................34
5.1. Netto rendabiliteit: eigen vermogen.......................................................................................................34
5.2. Netto rendabiliteit: totale activa.............................................................................................................35
5.3. Verkoopsmarge.......................................................................................................................................35
5.3.1 Rendabiliteitsratio’s: schema: hoe onthouden?...................................................................................35
6. Enkele andere kerngetallen........................................................................................................................35
6.1. Cashflow..................................................................................................................................................35
6.2. Cashflow / eigen vermogen.....................................................................................................................36
6.3. EBIT & EBITDA..........................................................................................................................................36
Voorbeeld: examenvraag...............................................................................................................................36
Hoofdstuk 6: Interne controle, audit en compliance.....................................................................................37
1. interne controle & interne audit................................................................................................................37
1.1. Audit: definitie.........................................................................................................................................37
1.2. Kernelementen definitie audit................................................................................................................37
1.3. Interne controlesysteem.........................................................................................................................37
1.3.1. Audit & internecontrolesysteem..........................................................................................................38
1.4. Interne vs externe audit..........................................................................................................................38
2. Types audit.................................................................................................................................................38
3. Componenten interne controlesysteem....................................................................................................39
3.1. Controleomgeving...................................................................................................................................39
3.2. Risicobeoordeling....................................................................................................................................39
3.3. Controlemaatregelen..............................................................................................................................39
3.4. Informatie & communicatie....................................................................................................................40
3.5. Controlebewaking...................................................................................................................................40
4. Methodologie operationele audit..............................................................................................................41
4.1. Voorbereidingsfase van operationele audit............................................................................................41
4.2. Vooronderzoek........................................................................................................................................41
4.3. Onderzoek adequaatheid internecontrolesysteem................................................................................41
4.4. Onderzoek effectiviteit internecontrolesysteem....................................................................................42
4.5. Auditrapport............................................................................................................................................42
4.6. Operationele audit vs. financiële audit...................................................................................................42
4.6. Opvolging.................................................................................................................................................43
5. Compliancefunctie......................................................................................................................................43
Te kunnen na leren van dit hoofdstuk:..........................................................................................................43
Bron....................................................................................................................................................................44
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, Samenvatting Financieel management (Bedrijfsmanagement) 2022-2023
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