One of the vital and common factors across all businesses is money. We are all obliged to publish financial reports at least annually, with most organisations producing management accounts on a more frequent basis.
Too often, managers find that accounting is like a foreign language and that whilst some of it makes sense, they lack the understanding they would like to in order to effectively use or respond to the financial information. Mangers who are able to read financial reports and communicate more effectively with the financial team are better placed to apply their management skills.
Almost everything that a manager does in his or her daily activities has an effect - positive or negative - on financial results. Managers who do not understand what drives financial performance are in danger of being out of step with overall organisational objectives. This programme is designed to clarify what drives financial performance and how managers' daily activities can support or block overall organisational goals and business success.
On successful completion of this programme, participants will be able to:
Explain the basic concepts, principles and jargon of financial reporting
Read and understand Profit & Loss Accounts, Balance Sheets and Cash flow Statements
Apply basic analysis to financial reports
Describe how managers can personally make a positive difference to the financial success of the company
Apply an understanding of Credit Control issues & describe how available financial information can be used to decide credit worthiness
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