Finance Management and Budget Preparation

Overview:
This Financial Management and budget preparation training course introduces candidates to the fundamentals of financial management and budget preparation. Candidates will become familiar with basic accounting concepts and terms, track business transactions, use universal accounting tools such as the general journal, general ledger, and trial balance. Course activities also cover the purpose of and how to use the four financial statements- the income statement, the balance sheet, the cash flow statement, and the statement of stockholders’ equity. Finally, candidates learn how to create and enforce a budget by analyzing financial statements, setting objectives, and monitoring performance. This Financial Management training continues by coaching how to reconcile a bank statement, choose a reconciliation reviewer, control an organization’s cash, and prepare a Cash Flow Statement. Course activities also cover the various tools available for analyzing financial statements. The candidates will also learn how to calculate inventory value and depreciation, and why organizations use accounting methods when reporting financial information on financial statements. In addition, budget preparation is a comprehensive focuses on the essential skills required to understand the processes of costing and budgeting within organizations. The course is designed to
address all the relevant issues concerning cost analysis, budget preparation and performance measurement.
Objectives:
How to:
• Learn the fundamentals of financial management.
• Learn basic accounting concepts and terms.
• Learn to use the general ledger and trial balance.
• Learn to prepare and interpret an Income Statement.
• Learn to prepare and interpret a Balance Sheet.
• Learn to interpret a Cash Flow Statement.
• Learn the fundamentals of budgeting.
• Learn to analyze financial statements.
• Learn reconcile a bank statement.
• Learn to manage an organization’s cash.
• Learn to prepare a Cash Flow Statement.
• Learn calculate inventory value.
• Learn calculate depreciation.
• Learn inventory costing methods.
• Learn depreciation methods.
Activities:
• Recognize the uses and functions of budgeting.
• Recognize the key activities, considerations, and benefits of strategic planning.