Understanding Financial Management

  • Duration: 2 Days
  • Language: English
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Courses Description

This Course, and the various activities and exercises within it, will enable you to understand how organisations finance the activities in which they are engaged and explain how sound financial management is effected. It also will introduce you to (or refresh your knowledge in) budget setting and budget management, which as a practising or aspiring middle manager, is likely to be a significant responsibility of your role

Target Audience

For new and  aspiring department heads, regional team leaders and  other  first-line managers, who are looking to gain  comprehensive business knowledge, and  develop the skills needed to lead a team  of leaders. Ideal for those  looking to take  on higher level responsibilities

Objectives

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

  • Ability to Understand finance within the context of an organisation
  • Ability to Understand the value of recording financial management information
  • Ability to Understand budgets for the management of own area of operation
Assessment Strategy
  • Pre and Post training test to measure knowledge and learning levels
  • Engage trainees in exercises and group activities
  • Evaluation form to be filled by trainees
  • Unit Specification and Learning Outcomes
  • Introduction 
  • The Financial Context
  • Management Accounting Revenue Expenditure
  • Financial Stakeholders
  • Measures of Organisational Performance
  • Financial Measures of Organisational Performance
  • Budgets
  • Variances
  • Monitoring and Controlling Cost
  • Conclusion
  • Bibliography
  • Notes
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