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Credit Control
This compact workshop delivers the essential skills giving delegates the confidence to understand and manage their Credit
control activities
Workshop benefits:
- Improve your cash flow
- Maximise cash availability
- Best practice in debt collection
Workshop programme:
- Understand your customers - how to identify them & their status, credit reports and what's in them, credit limits,
invoicing, terms and conditions & risk reduction
- Know how to deal with excuses and maximise in-house collections - How to deal with excuses, non payments, negotiate
payment plans and use late payment interest
- Have confidence to understand what to do if it all goes wrong - How to assess if it is worth suing a debtor, how to
issue proceedings and enforcement
- Know how to deal with a claim if it is issued against your company
Finance for the Constructing and Contracting Business
Increasingly managers in the construction and contracting sectors are
required to understand financial jargon, interpret financial information
and so to improve the financial performance of contracts.
This one-day course will demystify the jargon and provide managers at all
levels with the skills and confidence need to manage contracts financially.
Who should attend?
Newly appointed Managers or those wishing to improve or refresh their
financial management skills.
Course Objectives:
- The jargon explained
- Understand the contract financial reports
- Understand the financial impact of day-to-day operational decisions
- Avoid financial pitfalls
Course Content:
- Financial objectives
- Analysing the Contract - potential financial pitfalls
- Using subcontractors and third parties - the financial implications
- The Business Model
- Accounting Policies - in house
- Terminology explained
- Capital, Revenue, Profit & Cash
- Depreciation & Amortisation
- The impact of Value Added Tax
- Accounting for Profit
- Accruals. prepayments cost and profit reserves
- Discounts Receivable & Allowable
- Assessing costs to Complete
- Providing for remedials, warranties and penalties
- Setting the Budget
- The Contract Account
- Dealing with Variation Orders
- Using Variance Analysis
- Applications for Payment
- Retentions and Contra Charges
- Action planning
Materials provided include a detailed workbook, which contains both worked
examples and practical exercises and provides an excellent post course reference.
Finance for Sales Executives
Increasingly sales executives need to have an understanding of how the
selling price is derived from financial information relating to the
company’s cost base. This enables them to appreciate both the impact on the
Customer and how flexing the price can affect company performance.
Course Objectives:
- Provide an understanding of financial jargon
- Compile the selling price
- Understand the impacts on selling price
- Improve sales performance
Target Audience:
All personnel involved in the sales process who wish to gain a better
understanding of the financial issues related to the sale.
Course Content:
- Understanding the Sales Process
- The Company Accounts - a high level review
- Financial jargon explained - Profit, Revenue & Capital
- The Impact of Capital on Revenue -Depreciation & Amortisation
- Direct & Indirect Costs
- Fixed and Variable Costs & the impact on selling Price
- Understanding the Selling Price
- Allocation and Apportionment of costs
- Key Performance Indicators - Mark Up & Margin
- The impact of Value Added Tax
- The impact of Discounts - Trade, Retro & Settlement
- Commissions and the pitfalls
- The ‘Turnover Trap’
- Volume v Price
- Contractual Terms - the financial implications
Action Planning:
The course is supported by a detailed workbook, which contains both worked
examples, and practical exercises, which together with model answers,
provide an excellent post-course reference.
Finance for the Non-Financial Manager
Increasingly, managers at all levels are expected to understand financial jargon
and to be financially aware. This practical course is designed to remove the
mystery from the world of finance and budgeting and so enable delegates to
contribute directly to financial performance.
Delegates are introduced to the financial accounts, the budgeting process, the
key budgetary statements and how to avoid common errors.
Course Objectives:
- Demystify the jargon
- Explain the importance and application of accounting policies
- Explain financial statements
- Understand and control Working Capital
- Introduce budgeting
Course Outline:
- The Business Model - how it works financially
- Concepts and Conventions
- Accounting Policies
- Capital v Revenue
- Profit v Cash
- Depreciation & Amortisation
- The impact of Value Added Tax
- Introduction to Financial Statements
- The Trading and Profit and Loss Account
- The Balance Sheet
- Working Capital
- Introduction to Budgeting
- Budgeting in perspective
- The Capital Expenditure Budget
- The Profit & Loss Budget/Cost Centre Budget
- The Cash Flow Forecast
- Interaction between the statements
- Action Planning
The course is supported by a detailed workbook, which contains both worked examples, and practical exercises,
which together with model answers, provide an excellent post-course reference.
Who will benefit?
This course is designed for non-financial managers and staff who wish to remove the mystery from the world
of finance and the associated jargon.
Understanding Finance for SMEs -
Improving Profitability and Cash Flow
Managers within SMEs are under increasing pressure simply to maintain profitability and cash flow.
This one day workshop has been developed specifically for SMEs and provides a toolkit for those areas where many managers
do not have appropriate, practical knowledge.
Who should attend?
Managers at all levels within SMEs who would benefit from a greater understanding of key finance related issues.
Course Objectives:
- The jargon demystified
- Review and explain contractual terms
- Explain common financial concepts
- Show how to avoid key financial pitfalls
Course Content:
- The Business Model
How it works and associated jargon
- Concepts & Conventions
Explanation and their practical importance - Revenue, capital, profit, cash flow, accruals & prepayments, depreciation,
amortisation and impairment
- Contractual terms and the financial implications
Contractual terms reviewed
- Profitability
Calculating the Selling Price
Avoiding the 'Turnover Trap'
Assessing the impact of discounts allowable and receivable
Understanding the potential impact of Value Added Tax
- Cash Flow
The 'Cash Position' explained
Avoiding late payment and bad debts
Debtors and Creditors - the impact of Late Payment Legislation
- Methods of financing
Comparison of alternative methods
Outright purchase, hire purchase, leasing, contract hire
Calculating the true cost of finance
- Action Planning
Materials provided include a detailed workbook, which contains both worked examples and practical exercises, and provides
an excellent post course reference.
Duration - 1 Day
Writing and Managing Budgets - avoiding the pitfalls.
This course takes a practical approach to financial planning and considers: the writing and compilation of budgets;
how to identify potential problems arising; possible courses of action and how to use improved financial control by
managing budgets.
It also provides opportunities for participants to apply the course content to practical examples.
Course Objectives:
- Understand the budgeting process
- Improve the accuracy of budgets
- Be able to compile the key budgetary statements
- Manage budgets to improve financial performance
Course Content:
- The Need to Plan
- Budgeting jargon
- Basic concepts explained
~revenue, capital, profit, cash flow, depreciation
- Budgeting as part of the Business Plan
- The Budgeting Process
- Writing and structuring the Budgets
- The key Budgetary Statements
~Capital expenditure, Revenue (profit/cost), Cash Flow Forecast
- Compiling the Budgets - common issues
~allocation, apportionment & support
- Using the 'Zero-based' approach
- Interaction between the Budget Statements
- Reviewing the Budgets
- Managing budgets - Variance Analysis
- Identifying corrective action
- Applying the fixed and variable costs approach
~flexing the Budget
- Updating the Budget - alternative approaches
- Presenting the Budget
- Action Planning
The course is supported by a detailed workbook, which together with practical exercises and model answers compiles into an excellent
post-course reference guide.
Duration - 1 Day
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