Developing better financial processes for your company through 2 days Sprints

This 2 days program provides non-financial professionals and business people with a working knowledge of accounting and finance and empowers them to see how they can use this as a tool on a daily basis.

It helps you understand the basics of financial processes and develop a framework of how to implement them correctly so that you get the most benefit from them.

What you will learn in the workshop

Day 1: Overview

This focuses on the fundamentals of the general business accounting framework

9 am to 12 pm: Overview of Accounting & Finance framework

Accounting and Finance and how it affects new and existing businesses:

• Startup Capital

• Grants

• Sales Tax

• Payroll Tax

• Import Duties

• Tax deductible vs. non-Tax deductible expenses

• Fundraising & Valuations

Outcomes at the end of this session:

Clear idea of the basic accounting laws and situations that apply to your business

 1 pm to 4 pm: Overview of Accounting & Finance framework (cont’d)

 Understanding the 3 most common financial statements

• Income Statement (P&L)

• Balance Sheet

• Cash Flow Statement

Outcomes at the end of this session:

Clear understanding of the 3 fundamental accounting statements, how they work and why they are important

Day 2: Operations

Understanding how your business’s current accounting and finance processes stack up and how to address gaps and set up an effective FP&A framework

9 am to 12 pm: Financial processes for your business (Assessment)

• The importance of reporting, budgeting and forecasting and the differences between them

• What accounting and finance processes do you presently have?

• What do you do in-house vs. outsource?

• Are you compliant?

•  What are the critical gaps in your accounting and finance processes?

•  Are they aligned with your business goals?

Outcomes at the end of this session:

-    Clear assessment of the accounting and finance processes in your business

-    Identify gaps and areas for improvement

-    Level of relevance and alignment with the business

1pm to 4pm: Financial processes for your business (Remedy)

• Best practices for accounting and finance processes

• Develop a plan to address the critical gaps

• Rectify or introduce supporting processes

• What are the important KPI’s and key metrics for your business?

• Managing the accounting and finance functions as drivers of business strategy

• Importance of periodic reviews

Outcomes at the end of this session:

• Clear, actionable plan to address gaps

• Best practices that could be implemented

• Develop a financial dashboard that is relevant for your business

How to use this workshop?

Use this workshop as a means to demystify the financials aspects of your business, learn how to connect accounting and finance to strategy making it a management tool to drive successful execution.

 Who should attend?

CEO’s, fledgling CFO’s, senior accounting managers and marketing managers