Course Overview

This workshop is an introduction to financial management and control and aims to help small businesses evaluate their financial position at any given time. It will give you an awareness of a variety of financial control documents, methods and procedures. On completion you will be able to examine sales and calculate cost margins, profits and basic financial ratios. You will also have an understanding of credit control and credit control mechanisms.

Course Description

Financial Control Methods

Classifying and coding costs

Direct and indirect costs

Preparing a cost analysis

Examining Sales, Cost Margins and Profits

Preparing a trading, profit and loss account

Converting cash receipts / payments / revenue items

Profit margins and mark-ups

Preparing a balance sheet

Basic Financial Ratios

Basic profitability, liquidity and efficiency ratios

Using year-end accounts to calculate financial ratios

Comparing financial ratios year by year

Credit Policies - Advantages and Disadvantages

Credit Control

Credit Control Mechanisms

Financial Control Documents

This Course is Free of Charge.