Budgeting and finance basics

Overview

Introduction

For the non-specialist

Event detail

·         Introduction to accounts: double entry and accounting ledgers. ·         Introduction to budgeting: definition, types and structure of budgets.·         Accounting ledgers: sales, purchases and nominal ledgers.·         Cash recording and bank reconciliations: importance of bank reconciliations.·         Profit, cash and expenses: difference between cash and profit; paying and accounting for expenses.·         Financial planning and budgetary controls: why budget and how to set and manage budgets effectively.·         Variance analysis: establishing adverse and favourable variances.·         Evaluation and review of budgets.·         Common budgetary problems and pitfalls.·         Management and financial accounts: differences and why they are both important.·         Financial statements: profit and loss account, balance sheet, notes and accounting policies.

Benefits of attending

·         An appreciation of the fundamentals of book-keeping and budgeting.·         A basic understanding of what accounting records are and why they are necessary.·         Basic budgeting and budgetary control skills: how to set and monitor budgets. ·         Essential financial management and control skills.·         An understanding of accounting terminology and of financial and management accounts.

Who should attend

·         Managers and administrative staff who work in finance departments. ·         Non-financial staff responsible for setting and managing budgets.·         All others needing an insight into the finance function.

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