Financial Awareness

The aim of this course is to introduce the basics of accounting from a business perspective, with the intention of improving decision-making due to broader knowledge and awareness. A company case study will illustrate key issues concerning profit, costing and financial terminology will be included.

Course Content

There will also be a number of exercises during the day to ensure that any knowledge gained can be put into practice.

Profit, Cash & Performance Measurement
- Discussion. To check & enhance understanding of key
concepts including EBITDA & cash flow
- Some business management, but a department/project management focus

Crucial Aspects of Financial Performance
- Short session covering profit & loss, balance sheet
& key ratios
- Focus on impact of cost control & customer satisfaction
- Brief exercise evaluating the performance of a division

The Business Environment
- Introduction to some key tools in assessing a
company's situation & its market – 5 forces, PESTEL
& value chain – focusing on the division & the
importance of internal customers

Costing
- The fundamentals of costing & contribution
- An exercise covering cost reduction & contribution

Budgeting
- The importance of budgeting, the budgeting process
& management by exception

Getting Costs Down!
- Some techniques to address cost issues & cost
reduction. Ideas on costing for design & life-cycle
costing. Balancing time, cost & quality