Budgets & Managing Money

We start at the basics with participants as we find out more about the current knowledge and level of participants. Our trainer discusses a few key terms and assists with everyone to be on the same page and level before we develop this subject.

Understanding the areas in which participants deal with finances within the company and organisation is important. We personalise this area as we discuss the individual needs and roles to play.

In this section we discuss all the different financial reports that employees may come across in the workplace. We develop any areas where the participants need additional assistance or expertise.

Participants are provided with a clear system for tracking business expenses. With detailed reports is it easier to apply financial forecasts and planning.

Having an idea of what to expect is a positive step in the right direction. We go through the standards of creating a good budget that is easy to follow and understand.

Accounting is described as the art of identifying, measuring, recording, interpreting and communicating the results of economic activities. Learning which methods to use for those areas can be quite confusing. Our team help with providing factual information and useful skills that are in use in many workplaces today.

Managing money doesn’t need to be rocket science. We develop some simple strategies that anyone can follow to make sure they are generating profit.

Comparisons can be a great way to find investment opportunities. Looking for the gold nugget in a sea of information may seem difficult. Learn how to spot a great investment opportunity by way of comparison.

Finances in the workplace can affect people in many different ways. Teams may have different budgets, expenditures and needs. Learn how finances can affect those you work with.

This is a structured process in which your business can raise the quality of the products and services that you provide, and then maintain that level.

Being able to make executive decisions when it comes to budgets, finances and managing money will help any that work in these areas or roles. Learn more from our team about the skills required and gain new tools provided.

Introduction and Course Overview

We will spend the first part of the session getting to know employees and discussing what will take place during the session. Employees will also have an opportunity to identify their personal learning objectives.

Finance Jeopardy

This fun exercise will help you introduce some key concepts and ideas to employees.

Your Role in Company Finances

Every employee in a company has a role in company finances. Understanding and acknowledging that role can help employees better contribute to their company’s financial success. This session will provide the framework for employees to discuss how they are involved in their company’s finances.

What is Finance?

During this Budgets and Managing Money session, we will discuss what finance is and what its three steps are.

Getting to Know the Players

During this session, you will review a traditional organizational business chart with employees and discuss the different players in a company’s finances.

Record Keeping Terminology

If employees are going to be doing any sort of money management, they will need to be familiar with the terms accounting, GAAP, and bookkeeping. This session provides a lecture covering these terms.

The Balance Sheet

The purpose of a balance sheet is to show what a company owns and owes on a specific date. We will examine a sample balance sheet in detail.

Liabilities and Equity

Determining a company’s liabilities and equity is a key part of assessing the financial health of the company. We will discuss how to calculate the liabilities and equity of a company, using Smith’s Gourmet Food as an example.

Profit and Loss Statement (Income Statement)

During this session, we will discuss the profit and loss statement and some other key concepts, including methods of recording transactions, accounting periods, and accounting systems.

Tracking Business Expenses

Keeping track of expenses such as purchasing supplies, travel, and entertainment, is crucial, particularly at tax time. We will take a quick look at proven ways to record these expenses.

Analysing Financial Statements

You don’t need an MBA to grasp the basics of a financial statement, but you do need to know how to use the information they contain to clearly understand what’s happening in the business. We’ll cover the basic things you need to know when looking at a financial statement.

Encyclopedia Excitement

This session will help you review what you have covered so far through a fun, energizing exercise.

Using Accounting Software

With the proliferation of the PC and computerized accounting packages many companies do their bookkeeping digitally. However, some companies choose to do their bookkeeping by hand. How do you decide what accounting method to use? We’ll give you some tips.

The Importance of Bookkeeping

During this session, employees will read an article that highlights some of the ethical concerns surrounding accounting. Then, the class will discuss the article as a large group.

Budget Basics

What is a budget? What types of budgets are there? How do you prepare a budget? In this session, you will discuss all of those questions, and more, with employees.

Managing Profit Performance

Just how do you balance finances to bring a profit to your company? We will discuss some things to consider in this session, including types of costs.

Comparing Investment Opportunities

Investment opportunities within the business can be big decisions that require proper planning. We will cover two basic concepts that you should consider when comparing investment opportunities.

The Human Aspect

Dealing with finances isn’t all numbers. What if an employee’s expense report doesn’t look correct? Or what if you have to make cuts to someone’s pay? Participants will examine each situation in small groups, and then provide some tips on what to do.

Credits vs. Debits

Credits and debits (what comes in and goes out of your accounts) are a crucial part of your business’ financial health. You will review a sample balance sheet and income statement (showing where the credits and debits appear on each) using provided PowerPoint slides.

ISO 9001:2000

The ISO 9001:2000 series is a structured process through which a company can raise the quality of the products and services that they provide, and then maintain that level. This session will explore the basics of ISO 9001:2000 and the advantages of the program.

Decision Making

Employees will spend time doing an intensive role play. They will play the role of Operations Director of the Peerless Data Corp. We will ask them to make five financial decisions. After each decision is made, debriefing points are provided. We have also provided discussion questions for the end of the exercise.

Session Wrap-Up

At the end of the session, employees will have an opportunity to ask questions and fill out an action plan.