1 or 2 day in-company workshop
Understanding your business’ finance – learn how a business makes money and the fundamentals of finance
- Clarify the financial terms around the business so all managers work with the same definitions and communicate the same financial messages
- Understand the meaning of profit at different levels within the business
- Understand why the business prepares a Balance Sheet
- Understand that cash is different to profit and what can be done in a business to improve cash flow
- Identify cost types and how costs behave so improving budgeting and decision making
- Understand the key financial performance measures used within the business and how your behaviour impacts on these measures
- Appreciate the importance of forecasting and some of the difficulties involved
- Review a financial report and extract the most meaningful information about a team’s performance
The purpose of this Finance course is to enable non-financial Managers to fully understand the meaning of profit and evaluate the impact their own and their team’s decisions have on Profit at Gross level and further down towards the ‘Bottom Line’. It will help them to understand what drives revenue and costs recognition in the business, the elements of the balance sheet (stock and debtors) which are influenced by their actions and use this understanding to help manage the working capital of the business.
It will show delegates how to identify how costs build up through the supply chain and what can be done to minimise cost and maximise value and understand how costs behave with volume (fixed and variable cost) and use this understanding to improve decision making around product mix, discounting and new product development.
Exercises are used throughout to enable delegates to practice their new skills.
“Excellent presentation. Very personable trainer – also approachable. Liked the way trainer related theory to practice.”
“Everything I ever wanted to know about finance. Many thanks.”
For further details please contact us by email or call us on 01992 633882
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