Understanding Accounts and Budgeting

Description

Agenda:

Understanding Accounts

• Why financial intelligence matters
• Key accounting concepts and principles
• Building and understanding financial statements – a hands on exercise
• “Think finance” – evaluating performance in financial terms
• Using accounting information in decision making
• The importance of the working capital cycle

Budgeting

• The purpose of budgeting
• The process of budgeting
• Understanding strategic budgeting
• Reading and understanding operational budgets
• Key elements of capital budgeting

What you will learn

Upon completion of this course you will understand:

• Why it is essential that managers understand accounting concepts
• Understanding the importance of financial strategy
• Understanding the scope of financial management
• Understanding the importance of cash flow
• The importance of financial communication internally and externally
• Understanding the role of budgeting within the business planning process
• Appreciation of the methodology of creating budgets
• Understanding the motivational role of budgeting
• How budgeting improves decision making
• The role of budgeting in a rapidly changing business environment