Financial Skills: Financial Awareness

Course Overview

Successful Managers, Marketing and Sales people can be even more effective given a better understanding of the commercial considerations that interact with their own discipline.

The programme is specially designed for Executives who recognise the benefits of understanding how the financial side of the business operates. The course is led by a marketeer, not an accountant, who takes a practical, pragmatic view of money matters and translates the jargon, conventions and formats of accounting so that they become useful tools for the delegate. Case study work and practical exercises form an important part of this programme reinforced by tutor led discussions.

Course Outline

• Finance Its Part in the Marketing Mix
• The Cash Flow Cycle
• Lots of Business and How to Go Bust
• Working Capital How It Is Used
• Cash Flow and Profits
• How Costs are Quantified
• Costs of Production
• Costs of Selling
• Absorption Costing
• Marginal Costing
• Standard Costing
• Understanding the Statutory Accounts
• The Profit and Loss Account
• The Balance Sheet
• Source and Application of Funds
• Accounting Conventions
• Management Accounts
• The Vital Management Tool
• Cash Flow Forecasts
• Analysing Accounts
• Using Ratios to Analyse Performance
• Making Interfirm Comparisons
• Using Data to Make Decisions
• The Evaluation of Financial Risk
• Discounted Cash Flow
• Inflation Accounting
• Forecasting and Budgets
• What Forecasts do We Need
• How to Make Better Forecasts
• Using Forecasts to Decide the Budget
• Zero Based Budgeting
• Pricing
• Factors Affecting Price
• Elasticity of Demand
• Pricing Methods
• Volume, Price and Contribution