This course focuses on the principles and practice of budgeting and accounting and providing participants with the practical knowledge to manage budgets effectively in the workplace.
This course is designed for non-financial managers in every functional area who need to understand the language and basic principles of finance in organizations and who wish to feel confident with budget preparation.
- Understand the basic principles and terminology of finance
- Analyze and interpret financial reports
- Prepare meaningful budgets and forecast profitability
- Make full use of management information and clarify management decisions
Introduction to the principles of accounting
- Overview of how accounting structures started and how they developed
- Gain an appreciation of double-entry accounts and how they work
- Understand the names and functions of all the essentials including turnover, revenue, profits, balance sheet, liabilities, income statement and cash flow
- Make sense of whole documents and create a story from them
- Spot which areas of business are not performing and why that might be
- Understand profit and loss accounts
- Establish the difference between fixed and current assets
- Understand how depreciation impacts your accounts
- Look at company accounts and look for trends in the data to make sense from them
Budgets & Budgetary Control
- Learn what a budget is and how to construct one
- How to control against a budget once it exists and what can be done if you realize your actuals (what really happened) does not match the forecast
- Practice more finance speak and get comfortable with creating budgets
Management Accounting & Performance Management
- Speak the language of business properly
- You will discuss profit and margins and how to decide if a business is performing well or not. You will use various tools to manage performance
- Learning tools to help you assess your own financial performance
Funds Management and Cash Flow Forecasting
- Understand why cash forecasting is so important
- Learn the basics of fund management
- Experience the type of decisions needed when managing funds and you will see the problems associated with forecasting cash flow
- Understand an often used tool in management.
- Show how good a proposal is in terms of what it will cost against the benefits it brings.
- Tangible and intangible benefits are discussed
- Learn how to do a cost-benefit analysis.
Duration: 23 & 24 May 2020
Location: 5-star Hotel
Fee: 6,400,000 per participant (This fee is included training material, tea break, lunch, no extra fee)
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