WHO SHOULD ATTEND?

This program is intended for any new supervisors or those hoping to take the step up, whose experience or skill set doesn’t include the use of budgeting & financial reports.
 

LEARNING OUTCOMES

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

• Describe the art of finance and key financial terms
• Determine their role in company finances
• Find the rules and regulations for their area and industry
• Discuss various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings
• Explain how a chart of accounts is created
• Tell the difference between cash and accrual accounting
• Explain single-entry and double-entry bookkeeping
• Differentiate between debits and credits
• Identify and analyze important financial data and make financial decisions
• Read annual reports
• Determine whether a company is financially high or low risk
• Recognize different types of organizational financial plans
• Explain what budgets are and how to prepare them
• Recognize what computer skills you need to make you a financial whiz
• Deal with financial situations that impact the people that work for you
   

COURSE OVERVIEW & CONTENT

Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem!
 

• Explore Your Role In Company Finances As Well As Important Players In An Organization’s Finances
   

• The Accounting Cycle

• The Four Phases Of The Accounting Cycle
•  The Key Underlying Concepts, Including Cash Vs. Accrual Methods Of Accounting
   

• The Key Reports

• Take A Close Look At Balance Sheets And Income Statements
• Review Cash Flow Statements And Statements Of Retained Earnings
   

• Keeping Score

• Explain The Chart Of Accounts And Single Vs. Double Entry Accounting
   

• A Review Of Financial Terms

• A Review Exercise And An Introduction To Some Additional Financial Terms
   

• Understanding Debits And Credits

• De-Mystify Two Terrifying Accounting Terms:
  • Debits
  • Credits
     

• Financial Analysis Toolbox

• Sources For Financial Data
• Tips On Weeding Out Useless Information
• How To Calculate Common Ratios
• How To Read An Annual Report, And Some Useful Decision Making Tools.
   

• Identifying High And Low Risk Companies

• Guidelines For Identifying High And Low Risk Companies
• Practice These Guidelines In A Case Study
   

• The Basics Of Budgeting

• What A Budget Is?
• How The Budget Should Fit Into The Big Picture
• What The Budgeting Process Should Look Like
   

• Working Smarter

• A Basic Checklist Of Computer Skills Required For Success
• How To Choose An Accounting Package
   

• People And Numbers

• What If an Employee’s Expense Report Doesn’t Look Correct?
• What If You Have To Make Cuts to Someone’s Pay?
• Participants Will Examine Each Situation In Small Groups, And Then Provide Some Tips On What To Do
   

TRAINING METHODOLOGY

• Group Discussions
• Group & Individual Exercises
• Presentations
• Role Plays
• Self-Assessments
• Action Plan
   

COURSE DURATION: TWO DAY