Training for Financial Awareness
Developing Essential Skills
1st Edition
Published on 31. December 2023
Book
Hardback
978-1-138-73228-5 (ISBN)
Description
This title was first published in 2002: 'The success of Creative Kitchens took their management team rather by surprise. Since their start-up, four years ago, everyone has been working hard to keep up with the increasing pace of new orders. At today's management meeting Sharon Bentley, the company's management accountant, drops a bombshell. The Bank has asked for a thorough review of the company's trading activities before they can sanction any further increase in the overdraft facility.' From the opening session, Training for Financial Awareness presents a scenario with which any manager can empathize. The manual provides the trainer with a rigorous, professional and yet fun resource to teach managers the basics of the financial processes. As the story of Creative Kitchens unfolds, so the accompanying exercises enable the participants to discover more of the financial jigsaw. The eight free-standing sessions, a total of 29 activities, include exercises both on compiling and using financial data.
Reviews / Votes
'As a former banker, small business advisor and tutor in Starting your own business?, I was impressed with the approach and treatment of the materials. In conclusion, a comprehensive set of materials that I would recommend for trainers and consultants to use when conducting their own training sessions. If you are a trainer in this subject and are looking for good resource materials, at AGBP295 (less than a delegate rate?) they represent good value for money.' Institute of Training and Occupational Learning website 'The exercises abound with relevant information, either data or recorded discussions, task sheets, handouts and so on, and a solution to the task. I approached the review of this material with trepidation as I belong to the class of not really as financially aware as I should be?, but I found the material and the guidance so helpful, user-friendly and comprehensive that it made me (well almost) want to dash out and run a workshop using the material.' Training Journal '...I found this pack useful and it contained many ideas that could be used by trainers for financial awareness, whether or not they feel financialy competent.' Training Zone 'The presentation of material is excellent and the approach taken is original and practical. This training package will be a very useful aid for non-finacncial managers requiring an introduction to financial awareness.' Economic Outlook and Business ReviewMore details
Series
Language
English
Place of publication
London
United Kingdom
Publishing group
Taylor & Francis Ltd
Target group
College/higher education
ISBN-13
978-1-138-73228-5 (9781138732285)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Persons
Mike Bolton worked in new product development for a number of years before joining the Business School of Leeds Polytechnic. Since then he has worked on consultancy projects including business planning, marketing and training services and has spent time in China, Uzbekistan and Azerbaijan. He first met his co-author working as Associate Director of Materials Development for the CESaME project, an EU funded project to develop a European network of business coaches. Chris Singer spent 16 years in ICL Sales and Marketing, finishing as Vice President of Marketing in the US. Since then he has been a founder of Aregon, originally a State-owned company formed to export British software; Managing Director of Granada Microcomputer Services, which he took from start-up to weekly sales of over AGBP200,000; and has founded Singer Electronics which was first into the market with digital voice recording. Since 1994 Chris has undertaken a number of consultancy assignments in Eastern Europe, principally in Russia, Transcaucasia, Mongolia and the Ukraine.
Content
Part I General Introduction: Introduction; Session selector; Session synopses; Glossary. Part II The Sessions: Session 1 What's This Business All About? Using a SWOT Analysis To Find Out: Creative Kitchens Ltd - its strengths, weaknesses, opportunities and threats. Session 2 Finding Out Where The Money's Gone: How the money flows in and out; Last year's profit; What does the Profit and Loss Account show about our performance? Session 3 So You've Made a Profit? What Else Does The Profit and Loss Account Tell You? Which profit is the real profit?; More sales make us more money, don't they?; What does the Profit and Loss Account show about out costs?; What do we do now? Session 4 Have You Been Increasing Your Worth? What the Balance Sheet Tells You: What do we own and who paid for it?; What the last four years should have told them; How secure is the business? Session 5 What's Happened To The Flow of Money? Using Ratios To Find Out: Where has all the money gone?; Measuring the flow of money; How well are we using the money?; Using the pyramid of ratios. Session 6 Ratios Can Save Money and Make You More Profit: Where has all the profit gone?; Where have all the extra costs come from?; Where's the Work in Progress hiding?; Why so many Finished Goods?; Accounting policies need to be understood; Presentation of progress to the Managing Director. Session 7 Are Your Costs Behaving Themselves?: But surely a cost is just a cost?; The way costs behave; Labour costs should add value; Deviation isn't always a crime. Session 8 How The Figures Can Help You Make Better Marketing Decisions: How debtors dam up the cash flow; What should we do with the Overheads?; Prices, profits and breaking even; Sensitivity, or how break-even analysis can take away the pain.