Finance for Non-Financial Managers
Course
In Exeter and Taunton
Description
-
Type
Workshop
-
Location
-
Duration
1 Day
You will learn: The jargon, explained simply. Why 'profit' can be dangerously misleading. What the various financial statements are used for and how YOU can interpret them. Why knowing the breakeven point is vital to your business success. How to calculate what working capital you need. How to interpret management accounts. How to use your accounts to make more money. Suitable for: Anyone who wants to run a business, or his or her part of it, profitably and to understand its financial management but does not have a strong accountancy or business background.
Facilities
Location
Start date
Start date
Start date
Start date
Reviews
Teachers and trainers (1)
Philip Avery
Tutor
Course programme
Course Summary
Every decision we make as managers affects the money in the business. All businessmen and women must understand the financial management of their business, as much as they understand what it does, if they are to keep it healthy and prosperous and make money.
Large corporations have teams of management accountants to advise them but you can get the same information using simple concepts and techniques that will enable you to run your business rather than it run you.
What You Will Learn
- The jargon, explained simply
- Why ‘profit' can be dangerously misleading
- What the various financial statements are used for and how YOU can interpret them
- Why knowing the breakeven point is vital to your business success
- How to calculate what working capital you need
- How to interpret management accounts
- How to use your accounts to make more money
Workshop Timetable
9.00am Welcome & coffee
9.15am
- Introduction to the three financial accounts
- Income statement (profit and loss)
- Balance sheet
- Cash flow
- Exploring how they work together
- Using the balance sheet
- Getting management information
10.45am Break
11.00am
- Looking at management accounts
- The different types of costs
- The importance of the breakeven point
- The relationship of costs to breakeven
1.00pm Lunch
2.00pm
- Costing to make profit objectives
- What IS working capital?
- Understand working capital and the cash cycle
3.00pm Break
3.15pm
- Using the accounts to analyse a business
- Working with ratios
- What are their purpose?
- How and when to use them
- Profit improvement
- How to improve your profitability
- Summary
4.30pm Close
Finance for Non-Financial Managers