New LvBS Program “Financial Management”

Lviv Business School of UCU (LvBS) invites applicants to a new program for managers who strive for a better idea of financial aspects of their company activity. The program “Financial Management” starts on 28 September 2016. The participants of the program will learn to use the financial information for making efficient managerial decisions, will have the answers to the questions on the difference between revenues, expenses and cash flow, and will get a better idea of the financial reporting.

A modern manager must be familiar with the financial indexes of his/her company. Even if the manager  himself/herself does not administer the budget or finance, he/she must necessarily understand the financial aspects of how his/her business works. And, having gained familiarity with the financial terminology and main principles of finance, you will become more confident of your communication with banks.

If you wish to get the idea of finance and book-keeping in order to stimulate the growth of your organization, the program "Financial Management” is just for you!

Registration for the Program 

Topics for Consideration 

  1. Report on revenues and expenses; Balance sheet; ROE, ROA and Leverage (main financial reports of a company and their meaning).
  2. Planning of the cash flow. How should we make the right financial decision? What should we pay attention to?
  3. Instruments for making decisions on the performance of capital investments. Net Present Value and Internal Rate of Return (NPV and IRR). In which conditions is it worth investing money in new projects? Is it convenient to invest in new equipment  if the interest rates for loans are so high? Is it worth investing money in business expansion? 
  4. Marginal Analysis (CVP-analysis). “Approach to zero”; how should we calculate the break even point?
  5. Cooperation with Banks. What should we pay attention to in cooperation with banks? How should we calculate the credit interest? How should we determine the reliability of a bank?

As a result of this training the participants will achieve:

  • The skills in using the financial information for making efficient managerial decisions;
  • The right understanding of the concept of financial reporting and the difference between financial
  • indexes;
  • The knowledge of how to financially substantiate new projects and how to evaluate investment
  • propositions;
  • New knowledge for more efficient communication with financial managers;
  • The idea of choosing the right bank for cooperation;
  • The possibility of exchanging ideas with the colleagues having the experience of solving similar
  • problems;
  • The possibility of receiving valuable business contacts and broadening their own outlook in the environment of Lviv Business School at UCU.
  • This program is designed for owners, company directors, medium- and high-level managers, directors of non-financial departments.

Program Duration: 2 and a half days

  • 28 September, Wednesday – 2 pm-6 pm
  • 29-30 September, Thursday-Friday – 10 am-6 pm

Program Cost: 3500 UAH
Upon completion of the program, the participants will receive the LvBS Certificate.

Registration for the Program 


Mykhailo SaloMykhaylo Salo, teacher of the courses on finance within Master’s programs and programs on management development of LvBS, Business Consultant on financial issues. For many years, he managed the school financial department, and before that – the Financial Department of the university. He took an internship at the Financial Department of Seton Hall University (USA). He has an experience of managerial work in public organizations. He advises the participants when making business projects.

L. TarnovskyyLyubomyr Tarnovskyy, teacher of Master’s programs and programs on management development of LvBS. Within the program, he teaches separate topics on the course “The Principles of Finance Reporting and Finance Accounting”. In 2007-2009, he worked at the Investment Department of IP “Universal Investment Group”. In 2009-2010, he worked at the Department of Corporate Finance and Investor Realations of PJSC “Galnaftogaz”. Since 2010, he has been the financial director of the Ukrainian Catholic University. In 2012, he acted as Director of the Ukrainian Catholic Education Foundation in Chicago (USA). He is a member of the Beneficial Organization “Lviv Education Foundation”. He is involved in the consultancy on issues of the managerial records and budgeting. 

Taras KhomaTaras Khoma, teacher of the courses on finance within Master’s programs and programs on management development of LvBS. He worked as Deputy to the CEO, the chief accountant, Director of the  Correspondent Relations Department, a manager of the Department of Foreign Currency Exchange Operations at PJSC “Kredobank”, a member of the Executive Board at PJSC “Ideabank” (2011-2012). In 2003, he took practice at BSB Bankcorp.Inc USA. In 2004, he studied Strategic Management at the Joint Vienna Institute (The European Bank for Reconstruction and Development), Vienna, Austria.

CONTACT PERSON: Natalia Lypa, +38 067 675 66 08,