Starts12th March 2019 09:30Ends12th March 2019 16:00TrainerPamela RedpathContactHelen Swatton
0141 465 7531CostMembers £100, Third sector non members £150, Public/private £200
- Course overview
Good financial management is essential as finances tighten and funding sources become more diverse. The aim of this one day course is to explore the role of financial management in an effective organisation and to realise that it’s about more than just numbers.
The session will familiarise participants with the concepts and language of financial management and provide basic technical knowledge and skills to allow participants to improve the financial management of their own organisations.
- Overall course aim
The course aims to do this by: demystifying the financial jargon; increasing understanding of financial statements; and explaining the relevance of financial management tools, such as budgets and cashflow projections; providing simple, practical worked examples of how these are constructed; explaining full cost recovery through a fun exercise; emphasising that financial management is part of the overall strategy of the organisation; and emphasising the special features of voluntary sector organisations and the need to maintain the essential balance between a business-like approach and the social goals.
- Course objectives
The course covers all the main aspects of financial management, looking backwards at annual accounts and forwards at planning tools, and how these are linked:
Financial management: role of financial management – purpose and responsibilities; and financial management and the need for sound control systems.
Management reporting: management reporting to the Board; and accountability and reporting to funders and stakeholders
Statutory Financial Statements: principles underlying financial accounting statutory reporting requirements; content and format; working through a set of annual accounts to explain the terminology, what the figures mean and how the different parts link together; and how the new SORP will affect annual accounts.
Budgeting: purpose; setting; monitoring and reporting; and full cost recovery.
Cashflow projections: purpose and construction of simple cashflow
- Who is the course aimed at?
This course is aimed at people requiring an introduction to the principles of sound financial management and the basic technical knowledge and skills to implement these principles.
- Entry requirements
There are no formal entry requirements.