Financial Awareness
This practical course gives non-financial people the tools to understand and interpret the company's final accounts and budgets. Learners will understand how the final accounts of a business are put together and how to make sense of them.
Objectives
By the end of this course you will be able to:
- Know the basic principles and terminology of accounting statements
- Interpret the Profit and Loss Account and Balance Sheet
- Compare meaningfully the financial reports of one business with another
- Distinguish between fixed and variable costs
- Recognise the importance of knowing the break-even point for a project
- Recognise the vital importance of cash flow for a business
- Understand how a budgetary control system works
- Interpret and be able to act upon budgetary information
- Describe the difference between fixed and variable costs
Method
Classroom based training with practical exercises
Pre Course Requirements
Learners are asked to bring them examples of accounts and budgets where possible
Who Should Attend?
Anyone wanting to understand accounting principles, terminology and know how to interpret company accounts. Those that have direct impact on budgets or responsibility for departmental budgets.