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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.
By the end of this workshop, you will be able to demonstrate an understanding of: