Programme overview:

This one day, highly practical programme is perfect for ‘non-financial’ leaders and specialists who need to become more aware of the potential impact of their actions and decisions from a financial perspective.  Learners will develop their understanding of everyday financial terminology.  Through a practical simulation exercise, learners will develop their awareness of profit & loss and cashflow and their ability to recognise how they can support improved performance in these two key areas.  Learners will also develop their understanding of why the monitoring of budgets is so important. 

This unit can be attended either as a stand-alone programme or as a module within a wider leadership development programme.  This programme is delivered in-person due to the nature of the simulation exercise.  However, an abridged half day programme can be delivered online. 

Topics covered:

• Core terminology (and myths) associated with financial andcommercial awareness

• Undertanding Profit & Loss and how your actions can affect it

• Understanding cashflow and how your actions can affect it

• Understanding the importance of a budget and why it is important to monitor actual financial performance against the budget

Following participation, learners will be able to:

• Understand the role and purpose of company accounts and who uses them

• Understand the purpose of good financial management and awareness within a business

• Be able to define common financial terminolgy associated with financial management and accounting

• Understand the different types of profit associated with the P&L statement and how these are calculated

• Recognise the actions which can improve profitability

• Identify everyday 'actions' which can inadvertently reduce profitability and how to safeguard against these

• Understand the difference between profitability and cashflow and why healthy cashflow is essential to a business

• Recognise the actions which can improve profitability

• Identify everyday 'actions' which can inadvertently harm cashflow and how to safeguard against these

• Understand what a budget is, how it is produced, and how it is 'circulated' within the business

• Identify what they should be spotting and investigating when reviewing their 'actual' versus 'budgetted' statements and why.

• Recognise actions to take when remaining within budget is proving difficult.