Find out how forecasting and managing your finances can lead to a profitable and sustainable business. The management of finances is crucial to a successful business; financial information provides the evidence to support your decisions about a business and helps to justify those decisions when you present them to other people.
Whether you have an idea for a venture in the future or you already have a side-line business whilst studying, this course will help you manage your finances and provide relevant and timely information. It will give you the time to plan, share your ideas with others and start to document your thoughts in a structured business plan.
What topics will you cover?
– The importance of financial information
– An introduction to key financial information: sales revenue forecast; profit and loss forecast; and cash flow forecast
– Analysing and interpreting financial performance
– How to increase profitability
– Marketing a product in terms of price and number of sales
– Key financial forecasts: determining the viability of a business opportunity
– The business plan: business finances
What will you achieve?
By the end of the course, you’ll be able to…
– Discuss why forecasting and planning are key skills within any successful business.
– Discuss sales revenue forecast, net profit and the purpose of a cash flow forecast.
– Evaluate the entrepreneur’s business challenge: How can Hannah make her business more profitable?
– Identify business finances in a business plan.
– Assess costs, prices, gross profit and cash flow forecasts.
ENROLL IN COURSE