A one-day workshop
Finance doesn’t have to be a puzzle.
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.
- 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
Expert trainer
Author of Unpuzzling Finance, Zahoor Bargir is a personable and versatile trainer who is experienced in delivering training that is interactive, effective and fun. A qualified accountant by profession, he worked in numerous sectors before specialising as a trainer.
Session outline
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
- Case study: Small Brother Ltd
- Problems and solutions
4. Accruals
- Accruals – what and why?
- Prepayments
