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Financial Management

Venue:
Local Enterprise Office, Cork City, City Hall Anglesea Street Cork
 
Date:
02/03/2016
 
Note:
Wed 02/03/16 Wed 09/03/16 Wed 16/03/16
 
Time:
9.30am-1pm
 
Category:
Management Development
 

This training programme will give business owners and managers the information and skills needed to develop a comprehensive financial management strategy in the business, encompassing VAT, Book-keeping, Final Accounts, Pricing the Cashflow Management. A sample business will be used and participants will be offered Templates - both paper and Excel - for use in their own business.

This event is no longer available
 

Module 1 - VAT and Book-keeping

Aim
To give participants the skills to maintain the financial records in their business.

By the end of this session, participants will be able to:

  • Describe the principles of the VAT system
  • Describe the records required by the Revenue Commissioners
  • Prepare books of First Entry – the Cashbook, the Purchases & Sales books, the cheques journal
  • Balance the Bank Account
  • Complete the VAT Return
  • Describe what records are required in their own business
  • Reconcile the Bank Account
  • Reconcile the Customers and Suppliers Ledgers
  • Complete the VAT Return
  • Design a simple book-keeping system to suit their own business

Module 2 – Financial Management

Aim
To enable participants to develop a Financial Management strategy in their business.

By the end of this session, participants will be able to:

  • Choose the most appropriate Legal Structure for their business
  • Categorise the various financial transactions in a business
  • Differentiate between the tax treatment of expenses and assets
  • Describe what expenses are allowable and what are not allowable in the business
  • Interpret the Financial Statements in the business: Training and Profit and Loss Accounts, Balance Sheet, Capital Account, Depreciation Account
  • Differentiate between Sole Trader and Company Accounts
  • Choose the most appropriate sources of finance for the business
  • Develop a Cashflow management policy in the business

Module 3 – Costing Your Product or Service

Aim
To enable participants to develop an effective pricing policy in their business.

By the end of this session, participants will be able to:

  • Describe the difference between variable and fixed costs in the business
  • Describe the various pricing structures that apply in a business
  • Determine the overheads in their business
  • Calculate their break-even point
  • Finalise a pricing structure for their business

 

 

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