The current economy means that organisation's have to scrutinise where money is being spent and where they are making money. As a result, managers have to submit and work to tighter budgets, reduce costs, minimise expenditure, and come up with ideas for improving profits.
Most managers are promoted through skills in their own field - which unfortunately may not have included much financial exposure.
This 1 day seminar will introduce managers the language of finance & accounts and allow them to apply this knowledge to reading and understanding financial reports, creating better budgets, setting financial goals and monitoring their department's financial performance.
Key areas that will be covered during this course include:
* Understanding the importance of the financial function
* Decoding common accounting terminology and jargon
* Discovering what balance sheets & income statements actually tell you
* Understanding the importance of cash flow
* Drawing conclusions and trends from common financial statements
* Identifying how to prepare a realistic budget or financial forecast
* Outlining practical ways to use financial reports to manage and monitor budgets and performance