Many people work with financial figures on a day to day basis. Often they work with budgets and spreadsheets.
If you are one of these people this course is for you. We explain some of the jargon and take away the “fear factor” surrounding finance. After attendance people will feel better equipped to use spreadsheets and monitor budgets.
Course Aims
- Understand the purpose and importance of budgeting.
- Understand how to use spreadsheets for financial work and budgeting.
Course Content
You will learn :
- Where budgeting fits in to a company’s financial planning and control.
- What to include in a budget.
- Introduction to using Microsoft Excel
- Where and to use Excel for budgets and financial plans
- Tips and shortcuts in using Excel.
- Using your budget to compare actual expenditure/income with planned expenditure/income.
- The difference between cashflow and figures in a budget.
Course Structure
The course includes classroom teaching and lots of interaction. People learn by doing so there are many exercises throughout the workshop.
We always discuss with participants in advance key topics they will want to see covered. So you can put the course into immediate effect we will use your company’s documents and procedures wherever possible.
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
3. Balance Sheet
- Assets and liabilities
- Balance Sheet Structure
4. Private versus public accounts
- Sole trader, partnership and Limited Company accounts
- Public Company, Large company and Stock Exchange requirements
5. Budgeting
- Aim of budgeting
- What is usually in a budget report
- The budget cycle (Plan, implement, monitor re-plan etc.)
- Budget Planning
- The human side to budgets, what can make the process work or fail.
- Typical reasons for overspend/underspend
- Tackling budget overspend
- Incremental & Zero Based Budgeting
- Budget monitoring & Variances
6. Using computers for budgeting
- Top 10 Microsoft Excel features for budgeting
- Using Microsoft Word and Word formulas
7. Summary
