Understanding Business Finance & Accounts
Workshop Overview
When you measure your business performance accurately and regularly against a set plan (designed to achieve your specific goals), you will be able to manage and control your business a lot better and stop it from controlling you and taking you somewhere you don’t want to go!
This one-day workshop will help to change your business life for the better because it will give you the knowledge, tools and confidence to take more control and become a better business owner by working smarter, not harder. You will also receive a workbook, which you can refer to as you put your learning into practice.
The workshop, in its various forms, has been successfully delivered to many hundreds of franchisees from a large variety of franchise brands, both big and small, over the last 15 years, and the feedback has been excellent.
Workshop Content
What will you learn?
By the end of the workshop you will be able to:
- Identify and use the key information in a Balance Sheet and a Profit and Loss Statement to enable you to manage and control your business more successfully.
- Improve your ability to control your cash flow because of an increased appreciation of the Working Capital Cycle and fully understand the difference between profit and cash.
- Calculate and use a select number of Key Performance Indicators or Accounting Ratios so that you can identify positive and negative trends at an early stage and make better overall management decisions to spot and help avoid future problems.
- Set appropriate sales targets using an easy-to-understand break-even analysis formula.
- Understand the workings and setup of a fully integrated set of financial projections (projected monthly P&L Statement, projected end of year Balance Sheet and a monthly Cash Flow Forecast).