Getting to Grips with your Finances

This session has been designed to give directors and managers the understanding they need to:

• improve their financial knowledge and confidence
• make more effective decisions – financial and commercial
• know which bits of the business are working (and profitable) and which bits are not (and making losses)
• develop corrective actions to get back on track.

What the session will cover

Understanding the role and differences between the key financial statements - year-end statutory accounts, profit & loss, balance sheet.

• Improving your awareness and understanding of the key financial metrics in the business and how to measure and report on these metrics.
• Measures to improve and monitor working capital and cashflow.
• Establishing and implementing key financial systems, controls and procedures in the business.
• Setting up management reporting – what should be included in the weekly, monthly and quarterly management accounts/MI director packs and assessing performance and returns: financial forecast/projections vs actual.
• Business taxes, allowances, reliefs and planning opportunities.