Financial Management

This workshop will explain:

• how to keep the financial records necessary for sales, business assets and funds and use them for monitoring the financial state of the business
• the broad principles and procedures in accounting systems
• which financial statements and statutory returns are relevant to the business in terms of trading status
• what should be contained in the cash flow forecast, profit and loss statement and balance sheets
• which financial measures and forecasts are needed by the business
• how to manage financial performance against budgets and take appropriate corrective action
• which types of documents and methods are suitable for use in credit control and which systems will keep bad debt to a minimum
• legal and ethical limits for credit control
• what options there are for controlling debt and the costs of debt control plans

By the end of the workshop you will be able to introduce or improve financial record keeping systems and produce an action plan to monitor and improve the financial performance of your business.