Vadovavimas.lt training: finance for non-financiers

“Finance for Non-Financiers: The Manager’s Control System” is a training event that took place on October 22, 2025, organized by Vadovavimas.lt. The training was led by one of the co-founders of PLY Analytics – Vitalij Šostak.

Using a Power BI demo report developed by the PLY team, Vitalij Šostak demonstrated how to:

• Implement a simple but effective financial control and management system.
• Read financial statements in a way that immediately reveals the company’s true financial position.
• Accurately monitor profitability at every level of operations.
• Ensure the company does not overpay taxes.
• Avoid situations where the company is profitable but lacks sufficient cash.

The training was intended for managers of small and medium-sized enterprises and public institutions, as well as for anyone without a specialized financial background who seeks to manage company finances effectively without complex terminology or complicated calculations.

During the training, participants explored the following topics:

What is required for effective financial management of a company?

• What does financial management actually mean?
• Data and information preparation.
• Tools for management decision-making.

How to see the real financial position of a company?

• Organization of accounting processes.
• Structuring the company’s financial framework.
• What is accounting hygiene and how to ensure it?

How to calculate and increase company profitability?

• The structure of company profitability.
• How to control and manage profitability at every level?
• Identifying profitability by business lines.
• Development, monitoring, and control of a company performance metrics system

Is a budget necessary?

• What can and cannot be achieved with a budget?
• Preparing the budget structure.
• How to implement an effective budget control system?

How to avoid overpaying taxes?

• Why do companies often pay more taxes than necessary?
• Cost classification for corporate income tax purposes.
• Tax incentives and opportunities for their application.

Why is there sometimes profit but no cash?

• The difference between profit and cash flow.
• Key factors influencing cash flow.
• How to effectively plan and manage cash flow?

How to prepare a company’s finances for a potential sale?

• Business valuation basics: how many EBITDA multiples can be expected?
• How to correctly calculate EBITDA in the context of a sale?
• Key financial “homework” for company executives.
• Development of standardized service criteria and practical implementation planning.