Overview:

This course is designed for managers and professionals in a non-financial setting, responsible for budgetary matters. This course will provide a greater understanding of the way budgetary finances systems are made up and how they work in a business setting. They will be able to analyse the impact of budgetary controls and processes on their own team/department business objectives.

Course Outline:

Day One
   Introduction
   Understanding Financial Jargon – “Simple
English”
   Understanding Financial Reports
o Profit & loss
o The balance sheets, the Cash Flow statement
   What are financial ratios?
o Business trends
o Working capital capital (current ratios and
debtors ratio)
o Profitability, return on capital, capital turnover)
   Finance in an enterprise
o The business cycle
o Planning
o Target setting
o Measurements and action to correct problems
   Importance of expense control
o Making the most of your budgets in a
controlled situation
o Budgeting, costing and planning
o Planning a budget, monitoring and controlling
a budget
o Unit costs – defining and classifying costs
o The aim of plans, planning systems
o Links to costing and budgetary systems
   Budgeting, costing and planning
o Case-study workshop activity
o Summary and action plans agreed
Day Two
   Maximise your budgets
o Controlling situations
   Year end processes
o Importance of year-end activities
o Accruals
o Reserves (closing stock)
o Depreciation
o Adjustments
   Year end processes
o End of year accounting
o Splitting profits between tax years – fiscal
accounting year or adopting a calendar year
o Where do profits fall?
   Standard costing
o Key definitions – CIMA
o Debtor day formulas
o Sales variances
o Measurements and control
   Ratios
o Efficiency
o Capacity
o Volume
   Case-study workshop activity
o “Frost Production”

Assessment:

Assessment will consist of a short question paper covering all topics.