Finance: The Basics | Nelson Croom

This course is ideal for finance professionals who are looking for an introduction for junior or non-finance colleagues. It will also be useful for those who want to check how to explain financial concepts to colleagues. Finance: The Basics covers documents such as the profit statement, the balance sheet and cash flow analysis, and how they are linked. It also covers budgetary control, standard costing and discounted cash flow evaluations. These topics are set against the place of an organisation within the economy, different kinds of accountancy, and the way financial objectives are arrived at, implemented and monitored. Background information and knowledge is combined with interactive activities and scenarios so that learning can be applied in the workplace.

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Finance: The Basics enables learners to:

Understand what the finance function does and how it can help in their role
Deduce relevant information, and to recognise its limitations
See how decisions impact on the business as a whole
Prepare for greater responsibility

Learning outcomes

Introduction

Why is accountancy important?

What kinds of accountancy are there?

Who are the stakeholders?

What is double entry book-keeping?

What is good financial management?

Financial accounting

What are the kinds of net assets?

What is the difference between capital expenditure and revenue?

Is a cost direct or indirect?

How do we appropriate profit?

How do we create the balance sheet and cash flow statement?

How does the flow of funds work?

The basics of control

What are the levels of control?

What are the elements of control?

What are the key forecast relationships?

How does costing work?

What is standard marginal costing?

Some practicalities

How are management accounting systems structured?

How do I control the budget?

How do I control assets?

How important is discounted cash flow?

Target audience

This course is aimed at junior finance professionals or those in a non-finance function. It will also prove useful to those looking for a way to explain financial topics to colleagues.