Budgets and Financial Reports

Duration: 1 day 

Introduction

An introductory course into basic personal finance, and budgets and reports.

Course Outline

Just as with basic bookkeeping, you already know most of the material, you just don’t apply the same terminology.

Broadening one’s horizons is never a bad thing and for the person working in administration, this course could change your life and you could move to the financial department with little trouble. Besides identifying strengths in employees, having well rounded employees who can fill any position in the company is an asset to any employer. This workshop is designed to give participants a solid grounding in finance, bringing them up to speed with commonly used terms such as financial statements, budgets and forecasting. We will also teach participants some new terms such as ROI and EBIT and how these terms apply. This course is very much an activities based course so that participants can use and apply new knowledge, the chief basis for accounting is practice. We will begin with a glossary of terms and we will identify the key players in the financial department. We will take an in depth look at budgets and the different kinds of budgets found in a business. We focus on understanding financial statements, especially balance sheets and annual reports. Once participants are comfortable with the different financial reports, we move on to analyzing these reports. Because analyzing reports accurately is important we go a step further and look at long term analysis and calculating the return on investments or ROI. In module eight we look at forecasting techniques and how they vary from business to business, in fact we teach advanced forecasting techniques.

Key outcomes of the course include:

Component 1: Starting Out

Component 2: Glossary

• Exactly What Is Finance
• Comprehending GAAP
• Essential Finance businesses
• Widely used Terms
• Essential Players (individuals, Jobs)

Component 3: Comprehending Financial Statement
• Balance Sheets
• Statement of Retained Earnings
• Income Statements (AKA Profit as well as Loss Statements)
• Annual Reports
• Statement of Cash Flows

Component 4: Analyzing Financial Statements, Part 1
• Income Ratios
• Working Capital Ratios
• Liquidity Ratios
• Bankruptcy Ratios
• Profitability Ratios

Component 5: Analyzing Financial Statements, Part 2
• Long Term Analysis Ratios
• Calculating Return on Investment (ROI)
• Leverage Ratios

• Coverage Ratios

Component 6: Comprehending Budgets
• Common Kinds of Budgets
• Who Should Be Involved?
• Exactly What Should A Budget Look Like?
• Exactly What Information Do I Need?

Component 7: Budgeting Made Easy
• Factoring In Historical Data
• Putting It All Together
• Gathering Related Information

• Adjusting For Special Circumstances
• Computer Based Methods

Component 8: Advanced Forecasting Techniques
• Formal Financial Models
• Utilizing the Average
• Extrapolation
• Regression Analysis

Component 9: Controlling the Budget
• When to Panic
• Should Your Budget Be Updated
• How to determine if you’re On the Right Track
• Keeping a Diary of Key Learnings

Component 10: Making Smart Purchasing Decisions
• Determining the Payback Period
• 10 Queries You Must Ask
• Deciding Whether to Lease or Buy
• Thinking outside the Box

Component 11: A Glimpse into the Legal World
• Thinking outside the Box
• CEO/CFO Certification
• The Sarbanes Oxley Act
• A Brief History
Concluding

Component 12: Concluding

For Budgeting Courses, Course On Budgeting or Budget Training across South Africa contact BOTI today!

Who should attend this course? 

This course is intended for non-financial managers.

BOTI also offers: Accounting Fundamentals – how to construct an income statement, balance sheet and cash flow and read financial statements