Finance Essentials for Managers
- Course Overview
The information contained in financial reports is critical to understanding your organisation's situation - the opportunities for improvement and issues to be addressed. This is true no matter what sector you're in.
This program will give you the capability and confidence to interpret and use that information. Assuming no prior knowledge or training, it will explore the basic ideas behind the three key financial accounting reports: the Balance Sheet, Profit and Loss Statement, and Statement of Cash Flows.
- Key Learning Benefits
- The skills required to interpret and understand financial information and the confidence to use these capabilities
- Apply financial analysis when making management decisions
- Read and understand the three key financial accounting reports- the Balance Sheet, Profit and Loss Statement and Statement of Cash Flows
- Use financial information to assess an organisations financial health including identification of weaknesses and opportunities
- Clearly understand internal budget/actual reports
- Program Structure
This program is delivered over two consecutive days during business hours.
- Why have financial statements and reports?
- Statement preparation – what accountants do and who they do it for
- Fundamentals of the 3 key financial statements -
- Balance Sheet, Profit & Loss, Statement of Cash Flows - and their relationship to each other
- Interpretation of statements – the 3 basic steps:
- Individual ratio analysis: what can I see in specific ratios relating to profitability, liquidity, solvency and operating efficiency?
- Putting the whole together: what overall "story"
- Emerges when all analysis is brought together?
- Analysis dos and don'ts
- Case study Analysis
- Budget/Actual finance reports:
- Analysing reasons for variations
- Determining appropriate responses
- Who Attends
A public or private sector manager responsible for the management of people and / or resources, requiring a better understanding of the concepts and issues surrounding analysis of financial performance.
A manager with no formal accounting qualifications.
- Presenter & Facilitator
- Benefits for Your Organisation
In summary, this course will help you to make better financial decisions for your organisation. This stimulating hands-on course will provide you with the tools and techniques of financial analysis when making critical management decisions such as resource allocation or performance evaluation. You will be able to interpret balance sheets and operating statements and gain an insight into how business decisions affect them.