About This Training Course

LEARN HOW TO MAXIMISE OUTCOMES AND MINIMISE RISK IN Financial Management Training Course This one day Financial Management Training Course will provide participants with an understanding of the importance of financial information. Participants will gain the knowledge and skills required to read and interpret financial reports and achieve financial objectives.

Subjects Covered

This Financial Management Training Course covers the following subjects:

SETTING THE CONTEXT
• Setting personal objectives
• The nature of financial information

INTRODUCTION TO ACCOUNTING PRINCIPLES, TERMS AND CONCEPTS
• General accounting principles
• Chart of accounts
• Accrual versus cash accounting
• Source documents
• The accounting equation
• Double entry

FINANCIAL STATEMENTS – THE LANGUAGE OF ACCOUNTING
• Analysing financial statements
• Balance sheet
• Profit & loss / income statement
• Working capital management

FINANCIAL PERFORMANCE RATIOS
• Introduction to financial performance ratios
• Reading and interpreting financial performance ratios
• Using financial performance ratios as a performance benchmark
• How your company is evaluated by the market

THE FINANCIAL MANAGEMENT PROCESS
• What is the process?
• Management accounting versus financial accounting
• Continuous planning cycle

THE PLANNING STAGE
• Types of budgets
• The role of budgets in finance
• Cost estimation
• Revenue forecasting
• Compiling and selling the budget
• Contingency plans

THE IMPLEMENTATION STAGE
• Identifying relevant roles and responsibilities
• Aligning stakeholders
• Supporting your team
• Managing the process
• Resources and systems

MONITORING & CONTROL SYSTEMS
• Reporting processes
• Monitoring costs
• Impacts of cost control
• Financial control

REVIEW AND EVALUATION
• Reviewing budgets and effectiveness of processes
• Analysing and reviewing
• Making recommendations and alterations

IN ACTION
• Identifying actions to be completed in the workplace to integrate learning

Training Course Outcomes

By the end of this Financial Management Training Course participants will be able to:

• Communicate the key principles underlying financial information and accounting systems;
• Analyse and interpret financial statements;
• Develop, interpret and monitor budgets to improve financial management; and
• Realise the impact of business decisions upon the financial results of their organisation.

Prerequisites

This Financial Management Training Course requires no previous training or experience.