Responsible Finance - Reskill and Recover

Host: University of Derby

Cost: FREE

Financial management helps a participant to determine what money their business needs to spend as well as where and when it should be spent. It also gives employees an overall view of the financial status of the business, helping to determine business strategy and direction.

In this unit, you will cover

An introduction to financial management and consideration of the difference between financial accounting and management accounting, key financial statements and understanding how to make sense of them

Discover the difference between maximising profit and building wealth/value in an organisation - how to be responsible

Explore pricing strategies and how we must understand our cost base and how costs behave to ensure that we maintain profitability and sustain our operation

Examine the importance of cash flow management. We will consider the use of financial ratios to see how the financial statements can be pulled together to provide insights into our performance that are otherwise less visible to us

Look at the importance of developing our understanding of problem-solving, cause-and-effect analysis and the fusion of financial and non-financial information

Review a number of strategic management accounting techniques that pull together all the threads that will drive the opportunity to help with making our businesses sustainable and profitable

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