In today's business world, it's almost impossible to achieve a measure of success without having a multi-faceted understanding of the business you work in. It's assumed that managers and mid-to-high level executives have detailed knowledge of their specialised business area, but often, they have not had the opportunity to develop their financial competency.
This program is designed to assist participants increase their understanding of the role that financial analysis, reporting and budgeting plays in their day-to-day work, but also how these practices affect their business as a whole.
Upon completion of program participants can expect to have developed a broad understanding of financial requirements for managing business finances effectively.
- Identify the main sources of financial information concerning your own company and your competitors
- Understand and interpret key financial information
- Understand the differences between cash flow, revenue and capital budgets
- Optimise your use of working capital
- Analyse variances in budgets and take remedial action
- Calculate marginal costs and appreciate their importance in financial decision making
- Prepare break-even analyses for business plans, new projects and boardroom presentations
- Distinguish between short term and long term financial decisions
- Perform confidently in a financial environment