Events

Financial Management for FMs 1 (Code 811FIN1)

19th November 2008 (9:00AM)

Location	Central London
Contact	Teresa Mulligan
Email	info@bifm-training.co.uk
Tel	020 7404 4440
Website	www.bifm-training.com
Details	Financial Management For FM’s (1) Aim To provide facilities managers with a better understanding of the key principles of finance, accounting and budgets, and to explore ways in which financial information can be used to manage resources more effectively and improve operational decision-making. Objectives By the end of this course you will be able to understand: • Basic principles of accounting - attendees compose double entry balance sheets within the first few minutes of the workshop, and move on to profit & loss accounts and cash flows. • Why cash is not the same as profit. • How to demystify accounting jargon - what are debtors, accruals, reserves (etc)? • The use of company accounts to check customer and supplier solvency. What to look for in the small print. • Variable and fixed costs and their impact on break-even; marginal and full cost recovery. • The basic principles of constructing and using budgets. • When and how you pay corporation and value added tax. Description This course is aimed at Facilities staff with little or no financial background, and is intended as a sound introduction to the topic. This workshop does not turn managers into accountants, or delve heavily into the detail of specific UK or other accounting regulations. The aim is to give them an understanding of the principles that they really 'need to know' to operate in today's commercial world, to equip them to have intelligent conversations with financial staff, and signpost situations when they absolutely must use professional accountants. The programme is based on the BIFM management competencies concerning finance, and is intended to provide an introduction to key financial processes, terminology and tools that can be employed.
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