Effective financial management
This workshop has a focus on enabling you to become confident with finance terminology and to understand the linkage between effective financial management and your business strategies.
- Supported by: AusIndustry – Innovation Programmes
- Sessions: -
- Event type: Information session
Participants will gain an understanding of how to structure a business to ensure best practices in financial management are embedded into everyday operations, including:
- how to understand financial reports
- what is the Chart of Accounts and is yours poorly designed?
- the importance of Cash Flow projections and management
- what your Balance Sheet shows you about the business
- understanding your Profit and Loss report
- using financial reports in business decision making including exploring the importance of budget processes and financial forecasting
- protecting the business with internal controls
- introducing accountability through reporting
- identifying typical financial risks for SMEs
- exploring the linkage between financial management and delivering on future plans and strategies
- developing an understanding of your legal responsibilities as a Director, Owner and/or Manager.