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Advanced Reporting and Budgeting

Course Information:

Venue:Duration:Date:Price:
Online £2,500.00 20 hrsFlexible
In-House Agreed with client FlexiblePOA
London 10 days 11-Apr£5,900.00
London 10 days 22-Aug£5,900.00
London 10 days 21-Nov£5,900.00

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    Who should attend?

      Those for whom finance is part of their responsibility or are new to management and need a greater understanding of finance. They will be from all sectors, including private, public and not-for-profit including:

    • Those who are new managers or managers wanting a refresher
    • Budget holders who want to create and manage their budgets more effectively
    • Operations managers who want to know more about cost management and projects
    • Sales and marketing employees who want to understand financial statements
    • Anyone who needs to understand key accounting concepts, and improve forecasting and cost management skills
    • Managers whoare about to be promoted into positions which require financial literacy
    • Managers facing financial decisions or expect to make a contribution to a wider planning process

    Accreditations

    Outcomes

    • Introduce fundamental bookkeeping and accounting concepts enabling them to manage the financial aspects of their role more effectively
    • Review the different approaches taken in the public and private sector
    • Make sense of key financial statements and key ratios
    • Managefinancial aspects of projects more effectively
    • Assist in putting together a budget to justify expected expenditure
    • Measure budgetary performance
    • Conduct effective investment appraisals

    COURSE TOPICS:

    Concepts and Principles

    • Bookkeeping versus accounting
    • Cash accounting versus accrual accounting and use in private and public sectors
    • Types of accounts in the General Ledger, their purpose and the chart of accounts
    • Double-entry bookkeeping concepts and implications
    • Depreciation and amortisation

    Interpreting Financial Statements

    • The income statement (P & L) statement, format, content and key concepts
    • Interpretation of key ratios derived from the income statement; P/E ratio, Profit margin
    • The language and major components of the balance sheet
    • Business ratios derived from the balance sheet and P & L together, liquidity, debt, profitability etc

    Investment Appraisal

    • Defining the value generated and the required return – the hurdle rate
    • Return on capital employed – calculation methodology and interpretation
    • Payback period calculations
    • NPV and IRR calculations
    • Non-financial aspects of investment appraisal and decision making

    Essential Budgeting Process

    • Purpose and benefits, problems and limitations of capital and operational budgets and the important differences
    • Budget processes in the private sector
    • Budget processes in the public sector
    • Identification of risks to the budget and actions to mitigate them

    Measuring Financial Statements

    • What is financial performance?
    • Financial performance in the public sector
    • The importance of cash flow – how to measure and improve it
    • Gross profit, operating profit, net profit margin
    • Key performance ratios

    Investment Appraisal

    • Defining the value generated and the required return – the hurdle rate
    • Return on capital employed – calculation methodology and interpretation
    • Payback period calculations
    • NPV and IRR calculations
    • Non-financial aspects of investment appraisal and decision making

    Management Accounting

    • Types of management information prepared for internal consumption
    • Financial information managers need in order to be able to manage – the power of comparisons
    • Historical revenues and profits, cost trends, product profit margins, receivables information, budget comparisons, break-even analysis and contribution margin analysis.

    Managing the Costs and Finances of Projects

    • The stages of project management – PMBOK® Guide and Prince 2 compared
    • Building the Business case and getting approval for funding
    • Estimating project costs – expert, analogous parametric, bottom up estimating etc
    • Understanding Gantt charts
    • Project forecasts
    • Project risks and financial implications

    Building an Effective Budget

    • Public Sector context of financial management
    • Public budgeting seen through four perspectives – political, economists, accountants, managers
    • Approaches to budgeting including; line item budgeting, program budgeting, zero-based budgeting, priority-based budgeting
    • Three pre-requisites for budget preparation
    • Medium Term Expenditure Frameworks – aligning budgets

    Investment and Risk

    • Building an investment portfolio – key questions – WHY are we investing, REQUIRED RETURN, WHAT do we invest in, WHEN do we invest, WHERE do we invest
    • Five key stages – risk preference, asset classes, amount to invest in each class, choose investments, monitor and rebalance
    • Fundamental and Technical analysis techniques
    • Identification and mitigation of key risks

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