FINANCIAL MANAGEMENT FOR ENTREPRENEURS AND BUSINESS MANAGERS

The business of business is to create wealth. Accounting is the languages of business and finance is the science and art of managing funds. It is thus important that entrepreneurs and business managers of all sizes have a basic appreciation of financial issues that affect business performance. This programme is designed for entrepreneurs, business managers and leaders with responsibility to run a business or a division of a business. Such participants will have responsibility for budgeting, revenue generation, cost management and/or profitability.

DURATION – 3 DAYS

WHO SHOULD ATTEND

  • Owners and managers of medium enterprises
  • Line or divisional managers of revenue centres
  • Branch and product managers
  • Potential business owners and entrepreneurs.

OBJECTIVES

  • To introduce participants to the concept and practice of responsibility accounting.
  • To improve the knowledge and skills of participants in budgeting, cashflow planning, profit and financial planning.
  • To open up participants to business cost structures and costing techniques.
  • To educate participants on basic finance control techniques.
  • To introduce participants to various forms of business financing and partnerships and how to source them.

CONTENT

  1. The corporate life cycles
    a. The psychology of business
    b. The primary objective of the firm
    c. Business formation and sustainability
    d. Business registration and regulation.
  2. Fundamentals of accounting information to business management
    a. The objectives of accounting information
    b. The books of account
    c. What makes up a financial statement
    d. Cashflow management.
  3. Management accounting information and decision making
    a. Budgeting for planning and control
    b. Financial and profit planning
    c. Costs and cost structure
    d. Customer and product profitability analysis.
  4. Working capital managementa. Importance and components of working capital
    b. Sources of working capital
    c. Management of current assets – liquidity, receivables, inventories, etc.
    d. Management of current liabilities – payables, taxation, accruals.
  5. Sources of finance for business
    a. Financing decisions of a firm
    b. Short term and long term sources of finance
    c. Finance proposal writing and presentation to investors and suppliers of funds
    d. Basics of personal financial planning.