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Budgets and Managing Money

Many managers find themselves thrust into financial situations with little or no preparation. They’re faced with confusing accounting terms, the responsibility of putting together a budget, and the fear of making major decisions that will have a serious financial impact on their company. 

In addition, if you don’t have training or a background in finances, you may be at a disadvantage as you sit around the management table. When important financial terms come up at a meeting, you want to be able to contribute, not just sit there and nod blankly. 

 Understanding the cycle of finance will also help you figure out where you fit into your company’s financial structure and how to keep your department out of the red. This two-day workshop will familiarise you with the key concepts of finance and accounting and help you prepare budgets and make decisions with more confidence. 

  • Introduction and Course Overview

  • Your Role in Company Finances

  • What is Finance?

  • Getting to Know the Players

  • Record Keeping Terminology

    • Accounting

    • GAAP

    • Bookkeeping

  • The Balance Sheet

    • Assets

    • Liabilities

    • Owner’s Equity

  • Liabilities and Equity

  • Income Statement (Profit and Loss Statement)

    • Methods of recording transactions

    • Accounting Systems

    • Accounting Periods

  • Tracking Business Expenses

  • Analysing Financial Statements

  • Using Accounting Software

  • The Importance of Bookkeeping

  • Pre-Assignment Review

  • Budget Basics

    • Defining a budget

    • Preparing a budget

    • Types of Budgets

  • Managing Profit Performance

  • Comparing Investment Opportunities

  • The Human Aspect

  • Credits vs. Debits

  • ISO 9000

  • Decision Making

  • Workshop Wrap-Up