Course overview

Duration: 1 day (6.5 hours)

This workshop will provide participants with a grasp of basic financial awareness, to help them to better understand the language used by accountants and how financial statements fit together.  

Training is done in a jargon-free way that is aimed building attendees’ confidence in using financial terms and concepts within their organisation. 

 Competent financial management has many aspects, it is wide reaching and requires multiple skills but if participants work to become organised and effective in planning, these skills can be easily acquired.  

There is a misconception that to be a good operational manager dealing with financial decisions people must be accounting or numerical geniuses. There are basic skills that attendees can easily learn that will support them in those areas.

Objectives 

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

• Identify the importance of financial management and its impact
• Identify the link between financial information and decision making
• Set, manage, monitor and review budgets
• Analyse financial statements
• Demonstrate the link between the statements, budgets and decision making.

Content

Financial Management

• Budgeting process (generic / client specific if possible)
• Forecasting and re forecasting process
• The need for accurate forecasting
• Accrual v cash accounting revisited
• Financial Objectives of the business
• Users of the accounts

Financial Tools

• Depreciation and Amortisation
• Accruals and Prepayments
• Deferred and Accrued Income
• Costs, Opex and Capex

Financial Statements

• The Income Statement
• The Balance Sheet
• Understanding capital employed
• The relationship between balance sheet and income statement
• The cash flow statement
• Profitability: gross, operating and net margins
• Review of client’s management information reports

Building the Business Case

• Break even analysis
• Discounted Cash Flow
• Discount factors
• Net Present Value (NPV)
• Internal Rate of Return (IRR)

Still have questions about this course?

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