Training Courses

Finance for non Financial Managers

Course Aims:

This course is aimed at managers who need to improve the way they manage finances (budgets, cash flow, profitability), in their area of responsibility.

Course Objectives:

At the end of this course participants will be able to:
  • Understand the basic principles and terminology of accounting statements.
  • Interpret the profit and loss account and balance sheet.
  • Understand how a budgetary control system works.
  • Be able to prepare, interpret and act upon budgetary information.

Duration:

This course is tailored to suit the financial reporting systems of the client. The length of the workshop will therefore vary between 1 and 2 days depending on content.

Background
  • Why we produce financial information
The Profit & Loss Account
  • How to display results over a period of time
  • Elements included
  • Broken down per cost centre
  • The P&L
The Balance Sheet
  • What is it and why is it important?
  • Snap shot of position at a set time
  • Elements included
  • The balance sheet
General Financial Information
  • Sales per customer / product information
  • Stock holding information
  • Creditors / Debtors
  • Management reports and key business ratios
Cash Flow
  • Being profitable but failing due to poor cash flow
  • How profit and loss account elements effect cash flow
  • How balance sheet elements effect cash flow
  • Methods of controlling cash flow
  • The cash flow statement
  • Reason for having them
Budgets
  • Preparing and setting budgets per cost centre
  • How 'actual to date' plus budget for year gives an indication of year end position
  • Variance analysis (actual v budget)
  • Actions to be taken in response to increased costs / decreased turnover
Action Planning
  • Transferring learning back to the workplace
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