Using Management Accounts
BUSINESS SKILLS
Every business needs to know its financial position at any time. Waiting for the annual accounts to be produced six months after the year end is of no use to smaller businesses as they must be aware of changes in the business environment as, or preferably before, they occur. As a business manager you must be able to define your financial needs and understand the related figures to identify present and future problems, develop your business and set targets, and assess effectively your cash requirements.
Workshop Content
- How budgets are produced.
- Monitoring the figures.
- Using the information to plan and direct your business.
What to Expect
This is an interactive and informative workshop which will show you what information to extract from your accounts on a monthly basis and how to use it to develop and direct your business.
Preparation
We will contact you before the day to discuss your current systems for producing information and your level of understanding of management accounts.
Who Will Benefit?
Business people who do not currently use management accounts, have identified a need to be in greater control of their business or are in their first year of trading. Businesses which have their figures produced for them or their bank but do not know how to use them. Employees of small and medium sized businesses responsible for producing and monitoring management data.
Pre-Requisites
There are no specific pre‑course requirements but your business should already be using an accounting system which is able to produce the information. If you do not yet have a suitable accounting system, we would recommend attendance at our workshop 'Setting Up Your Books'.
COMPUTER SKILLS
