WHO IS THIS COURSE FOR?
Students, graduates, prospective managers, managers, small business owners and anyone else within an organisation involved in making business decisions.
To give learners a thorough, practical understanding of the basics concerning the structure and use of the key financial statements. This will empower them to analyse – and potentially improve – the financial performance of their own business
- Explain the function and purpose of the three key financial statements
- Describe the structure and use of the P&L account/Income Statement
- Explain how a Balance Sheet is used and formatted
- Demonstrate how to calculate and manage a company’s Cash Flows
- Explain how companies analyse their cost structures.
6 – 7 Hours
A fully integrated and interactive digital learning course. Delivered online through the publisher’s Academy LMS.
1. INTRODUCTION TO FINANCIAL STATEMENTS
Give a detailed overview of the three main financial statements (e.g. Balance Sheet, Profit & Loss Account and Cash Flow) and an explanation of the principles of accounting that underpin them. Explain their function in measuring and directing the performance of a company, and how they reflect the different business activities that a company engages in.
2. PROFIT AND LOSS ACCOUNT/INCOME STATEMENT
Describe the elements used to structure a P&L. Distinguish between the different types of costs and expenses that impact the profits generated by a company. Build a P&L using specific figures of your own.
3. BALANCE SHEET
Describe the purpose of a Balance Sheet, explaining what it communicates about the financial structure of a company. Explain how assets and liabilities are classified. Define working capital. Format a Balance Sheet in order to assess financial performance and enhance decision-making within a business.
4. CASH FLOW STATEMENT
Explain how cash is not the same as profit – and that it is essential for a business to manage cash effectively. Describe the different cash sources for a business, and list the operational decisions that can enhance cash flows. Calculate cash flows using the information contained in financial statements.
5. COSTING DECISIONS
Distinguish between fixed and variable costs and how these impact on both calculating contribution margin, and the application of breakeven analysis. Apply these financial concepts to make business decisions concerning production, pricing and product selection.
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