This course delivered over 2 half-day sessions in-person at Twigworth. As your position in the organisation rises, so too must your appreciation of the finances. You will need to be able to read financial documents and statements, draw conclusions from them and recommend actions. Through sound knowledge and understanding
Want to run this event in-house? Enquire about running this event in-house
Description
Course outline:
During this course you will learn about:
- Principles of Management accounting, Income & Expenditure Accounts
- Financial measures of business/organisational performance
- Calculation and interpretation of Accounting Ratios
- Cash, profit and cash flow forecasting, and credit control
- Financial information and its value for management and decision-making
- Sources of finance/funding and their characteristics
- Range of stakeholders and their various expectations of the organisation
- Role of the management accountant as provider of management information
- Performance indicators and their role in achieving objectives
- Source documents in accounting (invoices, etc)
- Balance Sheet, Profit & Loss Account
- Nature and purpose of financial and non-financial budgets,
- Zero based budgets and variable budgets
- Budgetary techniques for controlling operations
- How variances are calculated and used to analyse cause of budgetary deviation
- Techniques for monitoring and controlling costs
Who Should Attend?
All managers need to have a basic grasp of finances if they want to progress in their career. Even those who have ‘made it already’ know the importance of understanding finances and recognise the gaps in their own knowledge. This course is aimed at those responsible for decision-making on financial performances.
Why Should You Attend?
As your position in the organisation rises, so too must your appreciation of the finances. You will need to be able to read financial documents and statements, draw conclusions from them and recommend actions. Through sound knowledge and understanding of finances, your confidence will be high to use financial performance indicators as the basis of decision-making. This course aims to show you how!
Assessment
For those seeking recognition for their learning, this course is based on the ILM unit: Understanding Financial Management and successful completion of the assignment will result in the achievement of 3 credits at Level 4.
Progression
For those seeking to achieve a qualification at Level 4, you will need to achieve a further 2 credits for the ILM Award or 10 credits for the ILM Certificate.
