And if you want to get anywhere with your career, it had better not be!
Whatever your role, you have an impact on the financial wellbeing of the organisation you work for, whether you've got specific financial responsibilities or not.
This thoroughly practical, fun and enjoyable one-day workshop will help unpuzzle finance for you. It's an ideal opportunity to master the terminology, get to grips with the concepts, learn how 'the finance department' works and understand the part you play.
This course will help participants:
Appreciate the role and importance of Finance within organisations
Be able to recognise and describe some of the common items and jargon used
Identify the elements of the Profit & Loss and the Balance Sheet
Understand cashflow
Make better decisions
Manage budgets
1 Introduction
Expectations
Terminology
Key financial principles
Accruals
Consistency
Prudence
Going concern
2 The three main financial statements
Profit & Loss account
Income
Cost of sales
Gross profit
Administrative expenses ('overheads')
Net profit/(loss) for the financial year (the 'bottom line')
P&L format
Balance Sheet
Terminology
Fixed Assets
Current Assets
Current Liabilities
Long-term Liabilities
Capital
B/S format
Cashflow Statement
Financial and management information systems
3 Budgets and forecasts
Why budget?
Types of budget - incremental or zero-based
Budgeting for costs - fixed and variable
Budgeting for income
An eight point plan for budgeting for your department