Planning for the future is essential for any organisation. This does not matter what their size or the sector they work in.
Every organisation needs to plan ahead so that they can make confident decisions and properly plan for the future. By budgeting effectively, you can plan what the organisation wants to achieve and make informed choices, especially if conditions change.
With a strong cashflow forecast you can plan when cash will move in and out of the organisation. You can then use this to manage peaks and troughs to maintain a positive bank balance or reinvest surplus cash back into the business.
Without budgets, cashflow forecasts and financial monitoring, how will you know what money is needed and by when? Financial planning allows you to foresee financial implications of not generating the funds required to operate, allowing you to make better informed financial decisions.
This course contains the following modules:
1. Understand budgets and their purpose - In this module you will look at budgets, start-up budgets, annual budgets, expenditure and budget benefits.
2. Cashflow forecast - In this module you will look at a cashflow forecast, populating your cashflow forecast and, calculations and benefits.
3. Financial and wider planning - In this module you will look at benefits of business planning, business plan content, financial planning and adverse cashflows.
4. Key features of bookkeeping - In this module you will look at VAT, accounting procedures, cashbooks, bank reconciliation, petty cash, recording financial information and year-end accounts.
5. Variances in income and expenditure - In this module you will look at developing your cashflow forecast, your annual cashflow forecast and variances in income.
6. Accurate financial planning and recording - In this module you will look at financial management, planning ahead, bookkeeping, accounts, the advantages f accurate financial forecasting, staffing, marketing, production, rules and a financial health check.
This course takes learners approx 3 hours to complete.
