This one-day course will demystify the ‘financials.’ It is suited for small business owners, supervisors and line managers to put the financial aspects of the organisation into context. It will give you the confidence to read, interpret and apply information from key financial reports and assists with better decision making, planning, budgeting and cash flow management.
Course price includes:
Perth’s best facilitators and coaches at Perth’s best CBD training centre
Interactive, practical and hands on learning with small groups for maximum impact
Accurate, relevant and timely financial information affects the day to day running and overall success of any organisation. Having confidence to read, interpret and apply information from key financial reports assists with better decision making, planning, budgeting and cash flow management. This all affects the overall bottom line of any business.
This valuable course is suited for small business owners, supervisors and line managers and key personnel. It enables participants to put the financial aspects of the organisation into context and demonstrates how all members of an organisation can contribute to the overall success of the business.
Introduction to financial management
What is financial management and why is it important to the organisation?
Planning, performing and review – setting financial goals and objectives
Understanding the accounting process
Introduction to accounting principles
Accrual versus cash – what does this mean?
Reconciling the differences at the end of a period
The importance of accurate, relevant and timely accounting data
The key financial statements
Profit & loss / income statement
Other useful reports
How to read, interpret and analyse your key financial reports
Introduction to financial performance ratios
How to read and interpret financial performance ratios
Key Performance Indicators
The Importance of good financial management processes
What is the process?
Management accounting versus financial accounting
Continuous planning cycle
Budgeting and cashflow
Budgeting and Cashflow – to improve your management processes
Types of budgets
Costs, and how to determine your best estimate
Managing your resources to improve the bottom line
Identify available resources
Determining roles and responsibilities
Implementing and managing the budget process
Managing resources effectively
Understanding how your business has performed
Monitoring and control of costs
Reviewing budgets and the effectiveness of your processes
Analysing and reviewing
Making recommendations and alterations
Taking the information and puttling it all together
Action planning: how can this improve my business?
Apply the principles of managing financial resources
Identify and analyse the key financial statements
Prepare and negotiate realistic budgets
Monitor and control budgets and business performance
Plan to optimise the return through managing financial resources