Managing Financial Resources

Aims

Every aspect of business has an impact on the bottom line whether this involves staff time, direct purchasing of materials or understanding financial reports. Management of financial resources contributes to the overall success of any organisation as organisations that do not effectively plan, control and monitor their finances are unlikely to achieve operational targets and business objectives.

Structure

This two day, interactive workshop will draw on contemporary case study activities and candidate study packs and the sharing of best practice and real life examples will be encouraged. By the end of this workshop, delegates will be able to plan for the acquisition of resources, monitor and control the use of resources and assess the effective use of resources.

Content

The following topics will be covered during this course:
• Plan effective resource allocation for execution of programmes of work.
• Apply budgeting techniques to the control of financial resources.
• Monitor the use of resources with reference to cost reports.
• Interpret financial statements in relation to an organisation?s business objectives

Day 1, session 1

Introductions

To provide skills and develop abilities in the effective management of departmental resources. Emphasis will be put on the motivation and communication aspects of good budgetary control as well as the analytical assessment of the impact on resources of budget variances. Emphasis will also be placed on the need to provide support to individuals in their efforts to achieve budgetary targets.

Day 1, session 2

To provide skills in the monitoring and controlling of costs through the use of both routine and non-routine reports. Emphasis will be put on the information content of the reports rather than the production of figures. The outcome will give scope for delegates to appreciate the way costs behave within an organisation and the impact of the individual?s (and other?s) decisions on performance both over time within their organisation and in relation to performance of competitors.

Day 2, sessions 1 & 2

To provide an awareness as to how economic activity is recorded through the preparation of financial statements. Emphasis will be placed on the way in which these statements may be used to assess the performance of management in utilising the businesses? resources.

Associated Courses

• Introduction to Project Management
• Microsoft Project

Suitable for

This course is ideal for both potential and recently appointed:
• Managers
• Team Leaders
• Budget Holders
• Project Leaders

Price

£450 (ex VAT)
This course is also accredited with a Professional Development Award (PDA) by the Institute of Leadership and Management.

Tailored

As well as being open to any individual, this course can be delivered:
• to meet individual company requirements
• to company housestyles and templates
• within company premises
• specifically to a group or team of staff