Essential finance skills
 
 Wednesday, 5 April 2017  
 
Wednesday, 5 April 2017
Finance skills for non financial managers
09:00 - 09:15Registration and refreshments
0915 - 10:30Budget control and accurate forecasting
Speaker: Karen Price, Founder, KMP Training
The first session of the day will help you to create and understand your budget accurately over the year so as to identify the peaks and troughs of income and expenditure and help you avoid any nasty surprises late in the year.

Learning objectives:
  • Understanding the financial jargon
  • How to construct a budget
  • Components of operational and sales budgets
  • Budgeting for capital expenditure
  • Monitor and reviewing the budget
  • Forecasting and forecasting aids and interpreting the trends
10:30 - 10:45Questions and discussion
10:45 - 11:00Mid-morning Break
11:00 - 11:30Effective cost management
Cost management is the process of planning and controlling the budget of a business. For managers cost management is a vital form of management accounting that allows a business to predict impending costs and helps to reduce the chance of going over budget.

Learning Objectives:
  • Cost types and behaviours, impact of decisions
  • Direct and indirect costs
  • How costs and profit are determined
  • Importance of credit control and managing cash flows
11:30 - 12:30Practical work and discussion
12:30 - 13:15Lunch
13:15 - 14:15Understanding company accounts: profit & loss, balance sheets and cash flow statements
Knowing what is on a balance sheet and understanding what to do with the information it contains is vital for many modern management roles. Once you can get a grip on the numbers you will able to gain insights into the health of your department/organisation that will help considerably with forward planning.

Learning Objectives:

  • How to interpret accounts, profit and loss statements and balance sheets
  • Company Reports and Accounts
  • Key accounting ratios
  • Company valuations and acquisitions
14:15 - 14:30Questions and discussion
14:30Close