CPD

• Anyone from a non-financial background who needs to use internally generated accounting information. 
• Anyone who has responsibility for preparing and/or controlling budgets. 
• Anyone who has responsibility for projects and needs to understand and present the financial implications of those projects. 
• Anyone running their own business who would like an introduction to some of the main ways in which financial information can help improve the performance and stability of the organisation. 

The course does not cover double entry - please see our separate course Bookkeeping & Double Entry. 
If your aim is to understand the Financial Accounts published by companies our separate course Understanding Company Accounts for Non-Accountants would be more appropriate. 
 

• Essential financial terminology 
• The key financial documents and what to look for in these 
• How to prepare and analyse budgets 
• How to analyse the financial implications of a project 

Course content 

• Key financial terminology explained in an easy to understand way 
• Profit & Loss Account, Balance Sheet and Cash Flow Forecasts 
  What are they? What do they tell us? How are they linked together? Which figures are the most important? 
• Profit vs Cash - which is the real measure of success 
• 3 ways to increase profit 
• Budgets & Projects 
  What costs to include and what costs to exclude from any budget 
  Understanding Fixed Costs and Variable costs 
  Understanding Direct and Indirect costs 
  How to account for large items that may last more than one year 
  When to actually count a Sale as a Sale 
  Should VAT be included in the figures? 
  Do Debtors/Creditors/Stock levels affect profit? 
  What about the "Opportunity Cost" 
  How to decide if a project is worthwhile 
• How to compare doing a project yourself to outsourcing it 
• Hidden costs 
• Putting a value on non-financial aspects of a project - eg "the staff are happier" 
• Comparing budget to actual 
  Should you look at the percentage difference or the actual amount of the difference? 
• Flexing a budget if the circumstances change 
• How to quickly check if a budget appears reasonable 
• 2 essential ratios to consider