Managing Budgets & Finance

Course Overview

The purpose of this course is to provide an easily  digestible overview of  budgets and finance for non-financial managers. It helps them understand what accountants require and what they are talking about when discussing the organisation’s finances and accounts. It also highlights the importance of cash flow to the sustainability of an organisation.

Target audience

Ideal for managers or individuals who are responsible for managing budgets of different types in the organisation. It is based on the idea of finance for non-financially qualified managers. We have tried to remove some of the jargon. It would also be suitable for someone who would like to have a better understanding of what is involved in budgets & finance.

How long is the Course?

1 day

Course Outcomes

By the end of the session participants will be able to:
• Read financial statements including Profit and Loss, balance sheets and financial forecasts.
• Develop an understanding of different types of budgets, their purpose and who they are aimed at.
• Explain what is meant by fixed and variable costs, direct and indirect costs.
• Examine how the different costs impact on your budget and discuss cost management methods.
• Identify the difference between profit and turnover and examine overheads and revenue.
• Develop your own forecasts and budgets including short, medium, and long-range forecasts.
• Examine the importance of cashflow and how to sustain this.
• Address invoicing terms and condition and discuss the need to ensure there is credit control in your planning.

 

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