Description

Learn the basics of financial awareness and better understand the language used by accountants and how financial statements fit together within organisations.

Course overview

Duration: 2 days (13 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)

Course Images

Finance for Non Financial Managers

By Underscore Group

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