Understanding the principles of Financial Management is essential for all staff in a supervisory position or above in the modern Business World.  This one-day course will provide delegates with an understanding of the principles of Budgets, Cash-Flow, Profit and Loss 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 today’s business world.

Who will benefit from this course

This course is intended for anyone who needs to develop an understanding of the basics of business financial issues and the Financial Reports.  It is also ideal for Managers and Supervisors who need to understand how to understand the financial impact of their decisions and the effect on the business.  It allows delegates to build their understanding of the statutory financial reports and how they contribute to the effective management of the business.

Key elements of the course 

• Financial Periods and the Statutory Reporting requirements for a business.
• The Budget Process and its importance to a business.
• 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 Margin and how to manage it.
• Understanding and developing the Cash-Flow. 
• Cash Management and control.
• What is the Profit and Loss Report and factors that effect it.
• Building the Profit and Loss report and the impact of Depreciation and Corporation Tax.
• Retained Earnings and why Profit isn’t Cash.
• EBIT and EBITDAR and what they mean.
• KPI’s from the Profit and Loss 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 Fixed Assets.
• Understanding the Balance Sheet.
• KPI’s from the Balance Sheet and Profit and Loss reports.
• Making business decisions using the financial information.
• Other financial issues including, the impact of Stock, VAT, National Insurance, Tax

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.