This workshop will aim to boost the competence of senior managers in the theory and practical everyday use of key financial documents so that they may be more confident in their business dealings with team members, investors, bankers, customers and suppliers. The workshop will explain the key financial statements and how to interpret them, including profit and loss, balance sheet and cashflows. The event is designed to help business owners, entrepreneurs and non-financial managers appreciate the key concepts of finance and how this understanding can be used to help improve their performance.
Competencies gained from this workshop will enable participants to more effectively:
- Use forecasting techniques to set budgets and performance targets
- Monitor spending and performance
- Consider, project and manage options for change
- Control their business and inspire confidence in stakeholders to secure commitment, teamwork and whatever is needed to support everyday success and growth.
Agenda:
3.5 hours duration: 9.00 am - 12.30 pm covering the following topics:
- I thought accounts were for accountants! What are the key financial statements - why do they matter to me and my business? What are they telling us; how to interpret them and how others will interpret them?
- Profit and loss - A quick look at how each of the elements is treated that makeup business income, expenditure and overheads.
- The balance sheet in detail - Taking a snapshot of your business - what can we learn?
- The cashflow forecast - How to use common sense to build up a picture of our business future. The key difference between profit and cash, demonstrating the issues of working capital.
Speaker:
Paul Heaven - Managing DIrector, Jerroms Corporate Finance