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 WHO IS THE COURSE SUITABLE FOR :
Suitable for non-financial managers and staff who require a basic overview of accounts and accounting practices within the workplace including the use of budgets
AIMS AND OBJECTIVES
By the end of the course participants will be able to :
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Read, understand and give a basic interpretation of financial information
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Understand the difference between profit and cash
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Compare historical accounts and budgets to give an interpretation of the business / department performance over time
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Carry out basic calculations from accounts and to recognise areas for concern
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Recognise the different types of costs within an organisation or department and understand how business profitability can be improved through controlling costs.
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CONTENT
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Definitions and introduction
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Jargon buster - common terminology
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Cashflow Forecasts
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Purpose and content
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Key areas to consider
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Profit and Loss Account
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Components of, purpose and use
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Profit & Loss and Balance Sheet and what they tell us
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Profit versus cash
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Measuring Performance
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Key financial ratios
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The importance of analysing figures over time and identifying trends |
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Budgeting
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Components of, purpose and use
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Recognising and managing variances |
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Tips for managing budgets
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Identifying and
managing cost
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Avoiding Common Pitfalls
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the importance of keeping accurate and timely records
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The importance of consistency and comparing like with like |
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Being realistic and objective |
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METHOD OF DELIVERY
Structured delivery incorporating participation from delegates on both an individual and group basis. Case studies and examples will be introduced to ensure relevance to work and to ensure understanding. |
