Working Capital Management & Cashflow Improvement
Overview
This course will help you to understand and interpret financial statements: Profit & Loss Account, Balance Sheet and Cashflow Statement; use them as effective business management tools. In addition you will know the vital difference between profit and cashflow; use effective methods to monitor and control the key components of working capital. Also understand the "trade cycle" and effectively manage stock and debtors to improve business cashflow.
Who Should Attend?
This intensive one-day workshop is for busy owners and managers of small and medium sized enterprises who need the essential business finance skills to help them guide their business through the recession. Non-financial managers looking to expand their business skills and improve their career prospects in general management and senior executive roles.
Benefits To You & Your Organisation
By the end of the course you will learn about:
Accounting principles and financial statements
- The accounting process, accounting systems and "crunching the numbers"
- Preparing and understanding the Profit & Loss Account, the Balance Sheet and the Cashflow Statement
- Using financial statements to effectively manage your business
Improving cashflow by effective working capital management
- The vital difference between profit and cashflow
- Business funds flow and the "trade cycle"
- Understanding "working capital" and why it is so important
- Identifying sticking points in the working capital cycle
Effective inventory management
- How much is the right amount to hold
- Effective stock control systems
- Smart reports to monitor and manage stock
Effective credit management
- Implementing the right credit policy for your business
- Accepting credit customers and setting out the rules
- Making it easy for your customers to pay
- Smart reports to monitor and control debtors
- Practical tips to improve cash collections
Managing supplier payments
- Choosing the right "business partners"
- Implementing the right creditor payment policy
- Identifying and managing key suppliers
- Practical tips for dealing with payment difficulties
This intensive one day programme is a highly interactive and participative workshop that is designed to give the delegate the practical ability to use the key financial skills to manage their working capital and improve cashflow. The programme uses a combination of participative seminars, discussion, case studies and problem solving to ensure that delegates learn and develop the confidence to use the various principles and techniques.