Essential Finance Skills for Non-Financial Managers - 16 March 2016, Edinburgh
Regardless of industry, many managerial roles now require individuals to have a rudimentary grasp of organisational finances. Increasingly financial management is no longer the preserve of CFOs and Finance Directors as more and more responsibilities are devolved to middle management.
This introductory one-day workshop is perfect for non-financial executives and managers at all levels who wish to gain a practical working knowledge of finance.
Who should attend?
Essential Finance Skills for Managers is recommended for managers and other staff who have a responsibility for the finances of their department. Whether you are new to a financial role, have recently taken on budgetary responsibilities for the first time or wish to broaden you financial knowledge, our one day course will give delegates the tools needed to operate confidently and competently when undertaking finance tasks.
Your Trainer: Karen Price
Karen founded kmp Training and Consultancy in 1996, with her husband, Martin. Karen was previously a divisional finance director with a large media group and later took responsibility for all management training within the division.
Karen has planned, co-ordinated and delivered management training up to board level in a major publishing company. She has also operated as an internal consultant on human resources issues and advised on gaining recognition under the Investors in People scheme. A former finance director, Karen is a member of the Institute of Credit Management.
Since 2003 Karen has worked with the Professional Publishers Association, both as a trainer, and an assessor on the Diploma in Publishing.
Her training style is relaxed and informal and always focuses on individual objectives and action planning. Karen encourages delegates to talk about their own experiences and work-related issues.
If you wish to know more about the company background, and training style, please visit – www.kmptraining.co.uk
10:30 Session 1: Budget control and accurate forecasting
The first session of the day will help you to create and understand your budget accurately over the year so as to identify the peaks and troughs of income and expenditure and help you avoid any nasty surprises late in the year.
- Understanding the financial jargon
- How to construct a budget
- Components of operational and sales budgets
- Budgeting for capital expenditure
- Monitor and reviewing the budget
- Forecasting and forecasting aids and interpreting the trends
11:45 Questions and Discussion
13:00 Session 2: Effective cost management
Cost management is the process of planning and controlling the budget of a business. For managers cost management is a vital form of management accounting that allows a business to predict impending costs and helps to reduce the chance of going over budget.
- Cost types and behaviours, impact of decisions
- Direct and indirect costs
- How costs and profit are determined
- Importance of credit control and managing cash flows
13:30 Practical work and discussion
14:30 Refreshments and networking
15:00 Session 3: Understanding company accounts: profit & loss, balance sheets and cash flow statements
Knowing what is on a balance sheet and understanding what to do with the information it contains is vital for many modern management roles. Once you can get a grip on the numbers you will able to gain insights into the health of your department/organisation that will help considerably with forward planning.
- How to interpret accounts, profit and loss statements and balance sheets
- Company Reports and Accounts
- Key accounting ratios
- Company valuations and acquisitions
16:00 Questions and Discussions