Financial Management 2 – Understanding Your Accounts
Awarding Body
LANTRA
Target audience
If you are involved in a small business, such as a sole trader or partnership, then this course is designed to help improve your skills and knowledge around financial matters.
Description
Our course will help to improve your skills in understanding, analysing and using the annual accounts of your business.
You will learn how to analyse the financial health of your business and improve the financial management of your business.
This course will help you understand how to monitor your business' performance, look at income and expenditure, produce end of year accounts and work more effectively with your accountant.
Course sessions
§ Overview of the role of an accountant
§ Financial statements
§ The profit and loss account
§ The balance sheet
§ Reviewing accounts
What will be covered?
By the end of the course, you'll be able to:
§ understand the basics of the role of an accountant
§ describe financial terms common in financial statements
§ examine the make-up of profit and loss accounts and balance sheets
§ interpret cost of sales and overhead costs relevant to the business
§ use a profit and loss account to record income and costs
§ identify how to measure the profitability of a business
§ define liquidity, and calculate a current ratio
§ define and calculate net worth and equity-to-asset ratio
§ recognise trends within their business accounts
Duration:
1 day
Prerequisites:
None
Funding Available:
Yes
For more details or to enquire about costs and availability please contact Jimmy Hughes Services on 01597 850080 or jhsltd@btinternet.com
