Note:
3 evenings starting 18th September, 25th September & 2nd October 2024
This programme is designed to help participants to make the best use of financial information through accounting in managing their company’s financial affairs. Participants will gain an insight into the financial tools used for day-to-day management of any company’s finances and feel comfortable working with and understanding this information. These skills will enhance their ability to make decisions and to control operations more effectively.
This event is no longer available
In order to function effectively in business, all owner/ managers of Micro Enterprises need to have a good understanding of accounting and finance, how it affects the day-to-day operations of a small company and its importance in the planning and decision-making processes. This course is designed for individuals from Micro Enterprises from non-financial backgrounds to gain a better understanding of the basic principles of business finance and become more confident in addressing matters of a financial nature.
This programme is designed to help participants to make the best use of financial information through accounting in managing their company’s financial affairs. Participants will gain an insight into the financial tools used for day-to-day management of any company’s finances and feel comfortable working with and understanding this information. These skills will enhance their ability to make decisions and to control operations more effectively.
Programme Objectives
On completion of this workshop participants will:
- Understand financial terminology
- Understand the principles of double entry bookkeeping
- Know how to complete books/records – the how and what
- Be able to prepare all prime books
- Have a clearer understanding of financial statements
- Interpret financial reports and accounts correctly
- Develop and create in line appropriate budgets
- Use accounts and management information systems to better manage operations
- Basic Cost Analysis: Direct and indirect costs; apportioning production overheads; selling and distribution costs; apportioning sales overheads
- Break Even Analysis in terms of its preparation and role in overall financial management
- Cash Flow Management / Budgeting Forecasting in terms of: format and structure of projections; implications of pricing policy for profitability and cash flow and payments (credit control and debt management)
- Profit & Loss Accounts: Preparation; the Accruals Convention; Debtors and Bad Debts (Cash Flow)
- Balance Sheet: Structure, content, and functions; methods of valuation; factories; machinery; stocks; debtors; share capital; reserves; long term loans
- Understand Tax Compliance and how to implement it for small business
METHODOLOGY: The methodology to be used during the workshop includes group work, individual tasks, Q & A, and simulation exercises with a strong emphasis on practical application throughout. The Specialist Trainers are highly interactive and cater for the needs of different learning styles and competency levels. They provide one to one support to participants if needed to ensure that they maximise the output from the workshops.
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