The module begins by reviewing the fundaments of financial management and its component activities: business planning, maintaining cash flow, financial procedures, awareness of day to day costs and maintaining accounting records, internal controls, tax records, prioritising debt etc.
Who are the key stakeholders in financial reporting: managers, lenders, investors and suppliers, regulatory authorities?
The relationship between financial management and reporting is described and how this affected by adequate financial controls. The module goes on to describe the structure of an accounting system and its various component parts.
Next governance and compliance is reviewed and how these relate to financial management ie tax returns, retention of tax records.
The module moves on to specific documentation and reviews the accounting policies and procedures manual, which if used correctly, assists employees to understand and process financial transactions correctly and ensuring a consistent approach to accounting across an organisation.
The module concludes with a review of management reporting: profit and loss accounts, balance sheets, cash flow statements, key performance indicators and how management accounts pull all these together to provide the organisation with an overview of the financial health of the company.
On completion of this course, learners will:
- Understand the processes and documents that are used in financial management and reporting
- Understand the processes used to track income and expenditure
- Understand how an organisation’s records are set up and maintained to meet the requirements of governance and compliance
The content of this course has been independently certified as conforming to universally accepted Continuous Professional Development (CPD) guidelines.
On successful completion of this course, you will be awarded a Virtual College certificate which you will be able to download and print immediately on completion.
This course will take approximately 30 minutes to complete, depending on learning speed.
This course is aimed at team leaders and professionals and financial officers.
There are no specific entry requirements for this course.