This programme provides an effective opportunity for people to discuss, understand and practise some of the financial skills needed by all managers and budget-holders, to operate in todays working environment. The programme will include formal input, exercises and an opportunity to study the corporate financial accounts.
Performance Based Objectives
Identify and explain the importance of accounts
Describe the key components of a profit and loss statement, balance sheet and cash flow statement
Explain the significance of cash flow to a business
Appreciate the difference between different types of cost and their impact on the finances of a company
Critically examine a set of accounts
Distinguish between the key ratios needed for comparative financial assessment of a business
Plan and prepare for a specific work related situation involving financial accounts
Programme Developed For:
Anyone with limited financial knowledge wishing to understand the financial implications of their day to day decisions.
Programme Focus
Introduction & Objectives
The importance of Accounts
Why are accounts needed?
Who needs accounts?
Managing Money
Where did it come from?
Where did it go?
Accounting for Business
Three prime accounting questions
How are we doing?
How did we do?
How are we going to do?
Published Accounts
Understanding a Balance Sheet
Assets and liabilities
Depreciation
Significance of entries
Understanding a Profit and Loss Statement
Income and expenses
Cash flow
Significance of entries
The Importance of Liquidity
Factors affecting cash flow
Cash flow forecasts
What it costs to maintain liquidity
Costs
Different types of cost fixed, variable
Other types of cost marginal, average
Relationship with volume
Investment appraisal
Forms of appraisal payback, DCF, IRR
Opportunity cost
Strategic decision making
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