"Managers in all spheres of operation come into contact with and need to understand the financial effects of the decisions they make, essentially before they make them."

General Aim of the Programme

This comprehensive one-day programme aims to equip you with the confidence to communicate with both colleagues and senior management about the budgetary aspects of an organisation even if you lack confidence in your basic mathematics ability. It will do this firstly, by giving you, the participant, a significant amount of knowledge and understanding and secondly, by removing the mystique from financial statements through worked examples and a clear and humorous clarification of the terminology used. It is intended to have a direct impact on the organisation’s performance by making managers more budget conscious and profit aware.

Specific Objectives of the Programme

By the end of this programme participants will be able to:

• Understand the layout of Profit & Loss A/Cs and Balance Sheets and the terminology used in their makeup.

• Gain a basic grasp of elementary costing.

• Use the principle of marginal costing for profit/break-even planning.

• Understand the aspects of budgetary control and the meaning of fixed, flexed, incremental, zero based, capital and operational budgets.

• Understand how to manage a budget by interpreting variances.

• Understand the human aspects in managing a budget effectively.

• Create a cash flow forecast, interpret it and create an action plan — this will result in an understanding of the difference between cash and profit

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