Charities, not-for-profit organizations, and small businesses: Financial Management and Making a Profit
£9.99 inc. VAT
This course is designed for those who are in charge of planning, managing, and keeping an eye on the finances of any small business, particularly nonprofits, charity organisations, and project-based businesses. Budgeting, cash flow forecasting, and management accounts are essential financial tools for businesses to plan and control their finances effectively. Budgeting involves creating a financial plan for a specific period, such as a year or a quarter, and allocating resources to achieve the company's goals. Project budgets are also commonly used to estimate costs and resources required for specific projects. Cash flow forecasting is the process of estimating the cash inflows and outflows for a given period, enabling companies to anticipate cash shortfalls and surpluses. By analysing and monitoring cash flow forecasts, companies can make informed decisions on spending, financing, and investment activities. Management accounts are financial statements that provide insight into a company's financial performance, including profit and loss statements, balance sheets, and cash flow statements. Management accounts are typically used by managers and decision-makers to monitor the company's performance and identify areas that need improvement. Reporting is an essential aspect of budgeting, cash flow forecasting, and management accounts, as it involves communicating financial information to relevant stakeholders, including investors, lenders, and regulators. Effective reporting ensures that stakeholders have access to accurate and timely financial information, enabling them to make informed decisions and assess the company's financial health.
You will be able to do the following by the end of this course
- Understand what budgets are and how to create and develop them and be able to present them to funders.
- They'll be able to create and develop a cash flow forecast.
- Understand how the cash flow forecast relates to the budget.
- Understand what management accounts are and why they are useful.
Is this course for you?
- Anyone in a small company who is in charges of the money, such as the bookkeeper, non-financial management, trustees, treasurers, or administrative personnel
- Anyone who wishes to have a better understanding of management accounting, cash flow predictions, and budgets
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- Introduction 00:10:00
- All about budgeting 00:16:00
- EXample template 00:12:00
- Preparing and presenting a budget 00:15:00
- Project Budgets 00:13:00
- Project Budget Template 00:07:00
- Direct, Fixed and Variable Costs 00:12:00
- Management Accounts 00:16:00
- Actual results, Budgets, Variances 00:12:00
- Resources 00:01:00