Managing and Projecting your Business Finances
- 0.0
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Brief Introduction
Understanding how to manage business financeDescription
As a business owner, you must be financially literate and have a good grasp of the financials behind your business. It is at the heart of everything. After all, a business must generate a profit, manage its costs and be able to attract investors. You must be aware of the drivers behind your sales, your cost, your margins, forecasting into the future, your liabilities, assets and how to finance your business. Learning about finance can enable you to make better decisions, negotiate more effectively, and grow your business.
All entrepreneurs need to know everything from marketing to operations, product placement and design, and, of course, finance. You do not need to be an accountant or financial expert in order to budget, do your book keeping, taxes, calculate price points, and project revenues and costs well into the future to ensure continued success. Join this course today and position yourself for unique learning on all these concepts from experts, and access a wealth of knowledge, continuous learning and development and templates as resources on the curse and on the Enterprise Collaboration Lounge on Trello and Slack.
This certified course is one of 7 courses in SKILL-UP FOR YOUR BUSINESS, our online program for entrepreneurs to conceptualize, start or grow businesses through
(i) immersive individual & peer-to-peer learning using our curated & exclusive content based on 6 years’ experience working with 2000+ people across Nigeria and through 150 partners, delivered by experienced instructors, tracked through a learning log;
(ii) business challenges with prizes to support your businesses and;
(iii) access to our unique & exclusive ENTERPRISE COLLABORATION LOUNGE for funding through the pitch platform, legal, accounting, web development etc. experts and service providers, mentorship from successful entrepreneurs, opportunities, market place, business tools & services, continuous training and so much more.
At end of the courses, you should have a comprehensive understanding of product/service development and provision, business operations, sales and marketing, ownership, management and control, business structures, financial forecasting and financing plan and have a strong business plant to act as a roadmap for continued business scale and success.
All participants follow a three-step process to join our 500+ strong entrepreneurship ecosystem:
· Sign Up and Complete Registration Form:
· Complete the course, end of course evaluation form and log your learning in your enterprise learning log
· Join the Enterprise Collab Lounge
Requirements
- Requirements
- Sign Up and Complete Registration: including Information about you, your business and Entry Behavior Test questions as a pre-program diagnosis to feed into your learning journey [INSERT LINK TO THE REGISTRATION FORM]
- Complete the 7 Courses with individual assignments, business challenges and peer review
- Complete the end of course evaluation form [INSERT LINK TO THE END OF COURSE EVALUATION FORM]
- Log learning journey in your enterprise learning log [INSERT LINK TO THE LEARNING LOG]
- Join the SOS Headstart Enterprise Collaboration Lounge on trello and slack. Access opportunities, business tools, mentors, networking, marketplace, business services from expert vendors, training, insights and funding today
Knowledge
- Understanding financial statements
- Understanding the drivers for profit and loss statement
- How to develop a profit and loss statement
- Understanding key profit and loss metrics: operating profit margin, net profit margin and breakeven point
- Understanding the basics of tax planning
- Understanding the drivers for balance sheet
- How to develop the balance sheet
- Understanding the drivers in the cashflow statement
- How to develop a cash flow statement
- Analysing the elements of the Cash Flow Statement
- Understand how to manage your cash flows including the concept of working capital
- Understanding the importance and basics of book-keeping
- Understanding how to budget and budgeting best practices
- Understand how to re-invest for business sustainability
- Key principles on managing and projecting your finances to update your business plan
Budgets, Cashflow Forecasting and Management Accounts
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