Budgets and Financial Reports

2 Days

Introduction

Money matters can be intimidating for even the smartest people. However, having a solid understanding of basic financial terms and methods is crucial to your career. When terms like ROI, EBIT, GAAP, and extrapolation join the conversation, you’ll want to know what people are talking about, and you’ll want to be able to participate in the discussion.

The Budgets and Financial Reports workshop will give you a solid foundation in finance. We’ll cover topics like commonly used terms, financial statements, budgets, forecasting, purchasing decisions, and financial legislation.

Programme Objectives:

• Identify financial terminology
• Understand financial statements
• Identify how to analyze financial statements
• Understand budgets
• How to make budgeting easy
• Understand advanced forecasting techniques
• Understand how to manage the budget
• Identify How to make smart purchasing decisions
• Identify the legal aspects of finances

Method and Approach

This programme will involve the use of slides, handout material, work manual with all instructor notes and slides, examples of best practice, appropriate videos and appropriate video material.

The use of flip-charts, syndicate workshops and reporting back sessions will encourage a fully participative and enjoyable event. Delegates will be encouraged to participate actively in relating previous work experiences.

Who Should Attend

This course is designed for all staff who wish to learn how to prepare budgets and financial reports for their managers. It is particularly useful for middle and junior level managers who are often tasked with the preparation of such documents.

Course Content

The following content will be covered during this two-day course:

Module One: Getting Started

• Introduction to the course
• Workshop Objectives

Module Two: Glossary

• What Is Finance
• Commonly Used Terms
• Key Players (People, Jobs)
• Important Finance Organizations
• Understanding GAAP

Module Three: Understanding Financial Statement

• Balance Sheets
• Income Statements (AKA Profit And Loss Statements)
• Statement Of Retained Earnings
• Statement Of Cash Flows
• Annual Reports

Module Four: Analyzing Financial Statements, Part One

• Income Ratios
• Profitability Ratios
• Liquidity Ratios
• Working Capital Ratios
• Bankruptcy Ratios

Module Five: Analyzing Financial Statements, Part Two

• Long Term Analysis Ratios
• Coverage Ratios
• Leverage Ratios
• Calculating Return On Investment (ROI)

Module Six: Understanding Budgets

• Common Types Of Budgets
• What Information Do I Need?
• Who Should Be Involved?
• What Should A Budget Look Like?

Module Seven: Budgeting Made Easy

• Factoring In Historical Data
• Gathering Related Information
• Adjusting For Special Circumstances
• Putting It All Together
• Computer Based Methods

Module Eight: Advanced Forecasting Techniques

• Using The Average
• Regression Analysis
• Extrapolation
• Formal Financial Models

Module Nine: Managing The Budget

• How To Tell If You’re On The Right Track
• Should Your Budget Be Updated
• Keeping A Diary Of Lessons Learned
• When To Panic

Module Ten: Making Smart Purchasing Decisions

• 10 Questions You Must Ask
• Determining The Payback Period
• Deciding Whether To Lease Or Buy
• Thinking Outside The Box

Module Eleven: A Glimpse Into The Legal World

• A Brief History
• The Sarbanes Oxley Act
• CEO/CFO Certification
• Thinking Outside The Box

Module Twelve: Wrapping Up

• Words from the Wise
• Lessons Learned
• Completion of Action Plans and Evaluations