Course objectives:
On completion of this programme you will be able to:
-Understand the information in the key accounting documents and be able to assess financial performance
-Analyse the cost structure of an organisation and identify the key cost drivers
-Construct a budget for your team or department
-Produce a financial forecast of performance for the coming months
-Understand how to use your budget to drive performance improvements
-Build a budget for a project or sales tender
-Explain the significance of cash flow to a business
Course content:
Accounts
-Why are accounts needed?
-Key conventions and rules
-Financial accounts
-Management accounts
-Analysing key financial statements
Analysing the cost structure
-Different types of cost - fixed, variable
-Marginal costing
-Full costing
-Cost drivers and activity based costing
-Breakeven and contribution analysis
-Margin analysis
Forecasting
-What is it?
-Forecasting techniques
-Forecasting accuracy
-Frequency of forecasting
Budgeting
-What is the difference between budgets and forecasts?
-How to build your budget
-Using your budget to drive performance
-Project and bid budgeting
-Introduction to using spreadsheets for budgeting
Management accounts
-Setting the right performance measures
-How to read management accounts
-Using them to control performance
The importance of liquidity
-Factors affecting cash flow
-The cash flow cycle
-Cash flow forecasts
-What it costs to maintain liquidity
Review of Programme
Other Recommended Programmes
-Financial Modelling with Microsoft Excel
-Strategic Thinking and Business Planning
