Course description
This workshop offers insights into the main factors that are essential to the successful financial management of any business. In an uncertain economic environment, managers need to be aware of the power and importance of key stakeholders – shareholders, bankers, customers and suppliers.
Programme Summary
Becoming a manager brings many new challenges and perhaps one of the largest is understanding financial issues. You may be expected to communicate the organisation’s financial performance to your team, to contribute to discussions about how to respond to it, to plan and work to a budget and maybe even to present a business case for investment.
Key Learning Points
- Identify the relationships between, financial statements (income statement, balance sheet, and statement of cash flows)
- Recognise the key measures in managing financial performance
- Utilise financial statements to evaluate the financial / strategic performance of an organisation
- Apply the correct tools to evaluate future investment opportunities
- Manage the funding of the business in the most efficient and effective manner
- Recognise the part financial management plays in the overall business strategy
Upcoming start dates
Suitability - Who should attend?
- Executives
- Group leaders
- Project managers
- Program managers
- Department heads
- Others who wish to develop a financial toolkit to complement their existing professional or technical skills.
Outcome / Qualification etc.
Benefits of Attending
- The relevance & importance of accounting & finance to the success of your business
- How to read and interpret financial statements
- Effective budgeting and costing techniques & how to apply them.
- The techniques available to determine the most profitable & worthwhile investments for your business
- Effective ways to control the financial risks of your business
Training Course Content
Day One
- Understanding the language of finance
- Financial versus Management Accounting
- The financial statements – what they are and what they tell us
- Cash versus Profit – where does the money go?
- Financial analysis – how well are we doing?
- Ratio analysis – easy tools to understand business performance.
Day Two
- Managing costs – how do different types of costs behave and how do they impact profitability?
- Cost / volume / profit (CVP) and break-even analysis
- Closure decisions – understanding the implications
- Understanding prices – what does it mean to be sensitive to volumes or costs?
- Budgets and control – building the budget from scratch!
- Evaluating capital budgets using “Time Value of Money” concepts
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St Andrews Management Centre
St Andrews Management Centre is an independent training provider, based in Fife in Scotland, which provides accredited and non-accredited learning to clients in the domestic and international markets. Our specialisms include Leadership & Management, Coaching and Mentoring, Project Management, Finance...