This two-day course provides managers with a basic understanding of financial management. It demonstrates how to read and understand key elements of financial statements and reports, such as balance sheets, income statements and cash flow statements. Participants also learn how to apply basic financial and accounting principles to budget preparation and analysis.
The aim of this practical and participative course is to help participants analyse and improve the financial performance of their organisation and their team. Using case studies and participants’ own examples, they will learn about key financial documents such as balance sheets, profit & loss accounts and budgets.
Who should attend?
- Middle management level employees
- Supervisors
- Team leaders
- Employees who have been earmarked for succession into management
Workshop outline
The workshop will develop their financial understanding and will enable them to understand how their decisions affect their organisation’s financial performance.
Participants will:
- understand the key financial documents, such as the balance sheet and the profit & loss account, and cash flow summary
- realise the importance of cash and profit, and the links to the organisation's strategies and tactics
- understand their most important financial ratios and trends
- generate options for improving financial performance
- understand 3 methods for budgeting and when to use each one