Money Management
How will it help me?
The key objective of this workshop is to illustrate and explain the importance of cash to a business as a means of survival and growth. Given its importance to the SME sector, the majority of the workshop will focus on preparing a cash flow forecast and being able to identify business critical cash needs in future planning. It will cover the key elements of preparing a Cash Flow Forecast and explore how effective cash flow management will help protect and grow your business.
Depending on your financial knowledge, we recommend you attend the Understanding Finance workshop in the first instance before signing up for any of the other modules, as this covers the basics. The other four modules do assume a basic level of financial knowledge, which is imparted during Understanding Finance.
What will I learn?
From a financial perspective, time will also be spent considering the company’s working capital needs and the cash conversion cycle. This will be used to illustrate the fundamental difference between profit and cash and the dangers of overtrading.
Likely topics will include:
• Cash Flow Preparation
• Cash Flow Management
• Profit vs. Cash
• Working Capital Management
• Analysing Financial Statements
• Business Simulation activity
