Sound finance is essential to every business. We can all have effect on the success of the company’s financial plans. But all too often people feel excluded by the jargon and mystique surrounding finance. 

This course opens up the world of finance. After attendance people will feel better equipped to talk to finance specialists and influence financial success.

Course Aims

• Understand the aims and benefits of financial monitoring and reporting.
• Understand financial jargon
• Understand what to look for in company accounts and budgets.

Course Content

You will learn :

• How to read and interpret company accounts.
• What to look for in profit and loss accounts and balance sheets
• The difference between cash and profit.
• How to measure a business using key performance ratios.
• What to include in a budget.
• How to prepare a forecast.
• What to include in a business proposal that involves expenditure.
• The difference between financial strategy and day to day control.

Course Structure

The course includes classroom teaching and lots of interaction. People learn by doing so there are many exercises throughout the workshop. There are more exercises in the 2 day option with some “light homework (!)” between the first and second day.

We always discuss with participants in advance key topics they will want to see covered. We can run the course for a team wanting to develop a shared financial plan.

Course Schedule

1. Introduction

• Financial objectives
• Statutory and management accounts
• Origin of accounting standards
• Some financial jargon
• Practical accounting principles

2. Profit & Loss

• What constitutes turnover
• Cost of sales
• Fixed and variable costs
• Capital expense versus expenditure

3. Balance Sheet

• Assets and liabilities
• Fixed and current assets
• Balance Sheet Structure

4. Cash Flow

• The importance of cash flow

5. Private versus public accounts

• Sole trader, partnership and Limited Company accounts
• Public Company, Large company and Stock Exchange requirements

6. Budgeting

• Aim of budgeting
• The budget cycle (Plan, implement, monitor re-plan etc.)
• Budget Planning
• Incremental & Zero Based Budgeting
• The human side to budgets, what can make the process work or fail.
• Budget monitoring & Variances

7. Business Proposals & Forecasting

• Assessing a business proposition; what to look out for.
• Sensitivity analysis; the role of different factors in achieving profits and gross margins:
  • Sales volume
  • Sales pricing
  • Material costs (e.g. lower grade paper)
  • Manpower overheads
  • What-if analysis