Two day course, taking place in-person in London
This course is for those who want a better understanding of management accounts and finance as well as the annual charity financial accounts reporting that is a legal requirement.
Our approach will be to keep it jargon free and to use case studies, worked examples and some fun to create a better understanding of a complex but necessary management tool.
Who should sign up?
This workshop is ideal for those at, or approaching, management or senior management responsibilities in a charity or not for profit organisation who have little or no finance experience. Trustees too will greatly benefit from participation. Managers with financial responsibility with limited formal training or those wishing to brush up their knowledge are welcome.
What will I get out of it?
- Increased confidence in understanding of numbers and financial information
- The ability to start using numbers and information to improve decision making
- Get a better overview of forecasting and the budgeting process
- Understand how management accounts are used to inform organisation performance and strategy
- Improve an understanding of how management accounts and forecasts improve funding applications
- Having the confidence to ask better questions from finance managers, accountants and auditors
What will it cover?
- Practical exercises to understand financial and management accounting process and reports
- Getting to grips with financial jargon
- Interpreting accounts
- Understanding costs, cost models, full cost revery
- Generating forecasts and creating and managing budgets
- Practical application of management information for internal and external communications
- Improved ability to make better management decisions using financial information
- Understand restricted and unrestricted funding
- Understand fixed assets and depreciation
- Basic principles underlying balance sheets and statements of financial activity
- Understanding different types of reserves
- Financial accounts structures and reporting requirements
Please note participants should bring their organisation’s management and statutory accounts and have a calculator or a calculator app to help with some of the case studies
Trainer: Uday Thakkar
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