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Accounting Fundamentals
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Workshops
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- Accounting Fundamentals
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Facilitator
Description
Understanding basic accounting principles and how to interpret a profit and loss statement, balance sheet and the relationship to cashflow are key fundamental skills for managing a business unit and its financial performance.
This workshop works through the profit and loss statement, developing an understanding of gross profit, and the distinction between gross profit percentages and mark-up percentages. It covers annual budgets and budgeting, benchmarking of financial performance, and alignment with the wider business budget, business plan and strategy of your organisation.
This workshop also covers off at a high-level key performance indicators, monthly management reporting processes, and how financial reporting fits into the organisation's reporting process.
Learning Outcomes
By the end of this workshop, you will be able to demonstrate an understanding of:
- budgeting and forecasting
- the principles of gross profit, gross profit percentage and mark-up
- the profit and loss statement, the balance sheet
- the reporting and accountability framework that utilises budgeting and key performance indicators
Content
- What is a budget and forecast?
- The profit and loss statement, gross profit and gross profit percentages
- The balance sheet
- How budgets are prepared
- The monthly reporting process and variances between actual results and budget