Financial Essentials for Business Management – 2.5 day

Programme Aim:

This Course will provide participants with the skills and knowledge to understand the key financial flows within a business. At the end of this course, the participants will be fully able to:

• Implement sound financial management within a small to medium enterprise, List and use the key elements to good financial management,.

• cashflow, setting budgets financial targets

• breakeven analysis, budgeting to monitor performance and make decisions

• costing & pricing, Manage cashflow, Draft a budgeted profit and loss account

• Calculate their breakeven point – annual, monthly, weekly,daily

• Set sales targets, Cost their product and/or service

• Draft a pricing policy, Prepare a snapshot report template for their business

•  Read and analyse financial statements (profit and loss, balance sheet and cashflow)

• Assess financial viability and performance,

• Communicate confidently regarding financial matters

• Explain in broad terms the time value of money.

  Programme Content
•       Day 1 - Unit 1: Financial Management
•       Day 2 - Unit 2: Budgeting & Cashflow
•       Day 3 – Half Day: Assessment

      Prepare for exam – mock questions

Exam Pre-Course Work:

If possible, Trainees are asked to research their business finances (look at prior year accounts, management accounts etc), research costs before attending the training, e.g. ESB, telephone and other bills

Trainees will be requested to complete a pre-course questionnaire

PARTICIPANT PREPARATION: Participants are asked to bring their own calculators.

TEMPLATES

Financial Budget Workbook will be distributed in hard and soft copies to the Trainees. This includes profit and loss budget, overhead budget, cash flow budgets. Candidates will be working on their budgets and forecasts during training sessions.