Training & workshops

'Successful management of a business's financial skills is absolutely key to building a well-run and successful company'


 

one day course
£375 (inc vat)
 

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OVERVIEW

This course is run in a no nonsense fashion with an emphasis on avoiding jargon and demystifying the world of finance. We understand that non-financial managers often lack confidence when it comes to financial issues and our workshop aims to reduce that barrier and to empower your managerial staff to make better financial decisions.

The course run on one day, starting with the very basics and gradually untangling the world of management and financial accounting. Once your team have completed the course, they will be able to manage and understand the financial implications of their decisions and how they affect the company's bottom line. Rather than burying their heads in the sand when financial issues arise, your management team will now be able to productively interact with their colleagues in the finance department. Not only does this improve the profitability of a business in the long-term, it will also boost the morale of your staff. Previously disenfranchised managers will now be able to exert a greater and more meaningful influence on how the organisation is run.

WHO WILL BENEFIT?

Our training packages and workshops will benefit non-finance professionals at all levels who need to develop an understanding of business finance. All staff within a business, company, partnership or charitable organisation should have an understanding of finance in order to contribute to their organisation's success.

What you can gain is an understanding of business finance, basic accounting concepts and the language used by accountants and finance departments in an organisation.

TOPICS COVERED

• Understanding how day to day management decisions impact cash flow and profits

• Demystifying operational expenditure versus capital expenditure, which helps managers to justify their spending to the financial team and senior management

• `Setting and understanding financial targets for the business as a whole • setting financial targets for a specific management team

• Assessing the viability of both existing and potential customers and understanding credit risks

• Managing a budget to ensure that the company's overall financial strategy is followed

• Negotiating for extra funding to improve a management department and/or to make efficiency improvements

• Negotiating to improve the allocated budget to a specific department

• Managing financial performance and taking action to keep within budget

• Assessing the value of entering into new markets or of developing new product lines

OUTLINE

This course is designed to give you an introduction to business finance so that you can contribute to your business's success. It will also give you an understanding of the language used by accountants and how your financial statements fit together. The course will explain in a practical way on how to interpret and understand financial statements, depreciation, cost behaviour, cash flow, working capital and budgeting. Once you've completed this course, you'll have a thorough understanding of these processes in financial management.

Basic financial terminology and key accounting concepts the flow of money in a business and how it is accounted for the key financial statements (profit and loss account, balance sheet and cash flow) the composition and contents of a set of financial statements (using real life examples).

By the end of this course you will be able to:

• Understand how your day-to-day decisions impact profit and cashflow.

• Unmask the rules of capital expenditure vs operational expenditure helping you to justify investments to your senior managers and finance team

• Review financial information relating to: your business (helping you to set targets for improvement) your subsidiaries (helping you to manage and set targets for your team) existing customers (are they still viable?) and potential customers (are they a credit risk?) competitors (what can we learn from benchmarking their results?)

• Manage the budgeting process to: ensure business strategy is implemented negotiate funding for improvement or efficiency initiatives win in the negotiation over funds allocated to your budget, ensuring it’s achievable

• Manage financial performance, understanding variances and taking action to achieve your budget and objectives

• Simply assess the viability of entering new markets or developing new products




Our training courses can be delivered on your premises, either as part of a management consultancy package or as a standalone exercise, or we can host the workshop at our London offices. Give us a call to duscuss further.