Finance for Non-Financial Managers

Description

This Managerial Accounting Course has been designed for anyone interested in getting to grips with the basics of accounting theory, and who wish to acquire some insight into the accounts produced within a variety of business organisations.

What you will learn

Financial accounts

• Profit and loss accounts and how to understand them
• Reading an income and expenditure account and analysing the finance flows within your organisation
• Cash and accruals accounting showing how each is used
• Terminology associated with income and expenditure accounting
• Communicating effectively with finance professionals
• Analysing trends in financial flows and formulating appropriate questions
• Reading a balance sheet and analysing the financial position of the organisation
• How an asset register is used
• Analysing your accounts
• Constructing a cash flow statement from narrative information
• The different rules for charity accounting under the Charity SORP and the presentation of company and housing association accounts

Management accounts

• The budgeting process
• How budgeting relates to strategic objectives and good governance
• Constructing a budget
• Estimating costs and income accurately for budget purposes
• Using management accounts to understand the past and forecast the future
• Cost centres – understanding how they are used in your organisation
• Nominal, purchase and sales ledgers
• Using benchmarking in constructing a budget
• Distinguishing between fixed and variable costs
• Using the concepts of break-even pricing
• A template to forecast the effects of changing costs, sales volume and price
• Evaluating opportunity costs
• A year of free support