About this course
THIS HANDS-ON AND INTERACTIVE WORKSHOP IS YOUR FIRST STEP TO UNDERSTANDING THE WORLD OF BUSINESS FINANCE.
Unlock new skills and understand what it takes to run a business or a functional area through a financial lens. Learn to forward plan,
understand sales, income, profit and loss measures, and gain essential skills to monitor financial performance.are a technical expert in your field, you will learn effective techniques you can use straight away.
BENEFITS TO YOUR ORGANISATION
Your organisation will benefit through increased employee confidence and capability in interpreting financial information across a range of contexts. The commercial capability will grow as employees apply their newfound skills and knowledge to identify financial challenges
in your business, leading to improved decision-making and business planning processes.
What you will gain
A Finance Fundamentals digital badge will be available upon successful completion of the course from Skills Development Group.
What you will learn
- Understand the critical steps required in business planning.
- Understand and interpret sales, income, profit and loss measures and ratios.
- Learn to interpret a Profit & Loss statement.
- Develop skills to determine markup and margin (and understand the difference).
- Learn the importance of tracking and analysing business costs.
- Understand the importance of creating a team of experts to support you.
What you need
There are no prerequisites for the Leadership Essentials class.
This course is great for
- Those with limited exposure or formal training in finance.
- Employees in non-financial roles wanting to grow their commercial capability.
- Non-financial managers wanting to get a solid foundation in finance fundamentals.
- Business owners wanting to grow their business planning and financial capability, creating a solid platform for business growth.
Topics Covered
Business Planning
- We open the workshop exploring the importance of having a clear vision and values in business planning, setting robust objectives and utilising action planning to improve business performance. We then move into learning when and how to use analytic tools, such as SWOT and PESTLE, to assist in planning.
Budgeting
- We move into learning the different types of cost measurements and how to categorise expenses, including how to determine margin and markup like an expert. By the end of the workshop, you’ll understand assumptions and risks involved in financial budgeting and planning.
Financial Reporting
- Become familiar with navigating and interpreting a profit and loss statement, including how to manage and analyse your business’s expenses accordingly. Investigate the benefits of measurement systems and how to use them.
Monitoring
- Learn about profitability measures and what is involved in year-on- year tracking. Gain an understanding of how to correctly interpret and comprehend a ratio analysis. We close the workshop exploring how to choose the right business support team for the best results.
