Financial Risk Identification & Management
Workshop Overview
Often, business performance is reviewed based on sales volumes and customer service KPIs. The key aspects of financial performance, such as profitability and working capital needs, which are equally, and arguably more important tend to get glossed over, often as the result of a lack of knowledge, a lack of confidence, or both.
This workshop will provide a good understanding of the basics and give you the confidence to help your franchisees record, monitor and analyse their own financial performance and identify any problems at a much earlier stage so that appropriate remedial action can be taken, before it is too late.
You will also receive a workbook, which you can refer to as you put your learning into practice.
Workshop Content
What will you learn?
- First, we answer the key question of “Why do we monitor performance?” and examine how people sometimes try to “cook the books”.
- Then we turn to the financial aspects and answer questions like “What is a balance sheet? Why does it balance? and Why is it useful?”
- We examine the make-up of a profit and loss account and get to grips with the difference between profit and cash, and break-even calculations
- We analyse accounts using key ratios and undertake trend and comparison analysis
- We explore how to complete and analyse a comprehensive set of financial projections
We are very experienced in incorporating any of your own financial reports, processes and financial terminology into our workshops if that would benefit your people in developing their financial skills. So, if our Financial Risk Identification and Management course doesn’t cover everything you need, please contact us to discuss your specific requirements. We are always happy to develop an effective and impactful solution that hits the spot for you.