Understanding the principles of Financial Management is essential for all staff in a supervisory position or above working in a Charitable organisation.  This one-day course will provide delegates with an understanding of the principles of Budgets, Cash-Flow, Income Statement and the Balance Sheet and how they interlink.  It will cover the aspects necessary to allow managers to understand the financial impact of decisions and contribute effectively to financial discussions in the organisation.  It will follow the standard financial structures and KPI’s used in charitable organisations across the country.

Who will benefit from this course

This course is intended for anyone, working in a Charity, who needs to develop an understanding of the basics of financial management and the Financial Reports.  It is also ideal for Managers and Supervisors who need to understand the financial impact of their decisions and the effect they may have on the organisation.

Key elements of the course 

• Financial Periods and the Statutory Reporting requirements for a Charity
• The Budget Process and its importance to a Charity
• Methods for preparing and planning the Budget.
• Monitoring the Budget, understanding Variance and how to deal with it.
• Understanding Capital and Revenue items 
• Fixed and Variable Costs and the effect of “Hidden” costs
• Understanding and developing the Cash-Flow 
• Cash Management and control.
• What is the Income Statement and factors that effect it.
• Building the Income Statement 
• Excess and Deficit and what they mean.
• KPI’s from the Income Statement and the generation of “Reserves”
• What is the Balance Sheet and factors that effect it.
• Building the Balance Sheet from the “Accounting Equation”
• Factors that influence the Balance Sheet including, Reserves, Cash and Assets
• Understanding the Balance Sheet
• KPI’s from the Balance Sheet and Income Statement
• Making business decisions using the financial information
• Other financial issues including, the impact of VAT and National Insurance

Course Details

This is a one-day, tutor led, on-line course the dates for which are set out on the Course Schedule. It can also be run as a tailored, company specific course either on-line or at an organisation’s premises.