Managing Budgets & Finance
The purpose of this course is to provide an overview of what should be in a budget and financial accounts. It is to give an overview of what an accountant is talking about when discussing your accounts and to understand the importance of cash flow to the sustainability of a business.
This course is ideal for manager or individuals who are responsible for managing budgets of different types. It is based on the idea of finance for non-financial managers. We have tried to remove some of the jargon. It would also be good for someone who would like to have a better understanding of what is involved in budgets and finance.
How long is the Course?
By the end of the session you 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.
This is an interactive course and there will be case studies and examples used throughout the day. Please feel free to bring examples that you might want to discuss.