Practical Training for Small Business Managers -
Finance
The program consists of four
components:
-
An eight hour, hands on class, designed to
provide the basics of financial management
-
During the four weeks following the
class, somebody from Kensington Associates will provide eight
hours of personal guidance to help develop a customized income and
cash flow statements for your business
-
About one month after the initial class,
Kensington Associates will schedule a four hours group follow up.
Participants will share their experience on implementing their
knowledge in real world scenario. Participants will also set some
short terms goal.
INITIAL
CLASS AGENDA
Morning
-
Introduction
of financial statements and how they can be used to plan and manage your
business
-
Identifying the units of sale and
pricing that create revenue
-
Identifying variable costs associated with
selling a product
-
Identifying fixed costs that keep the
business running
-
Determining the break even point for your
business
-
Practical exercises
Afternoon
-
Introduction of the cash flow
statement
-
Methods on improving a business' cash
flow
-
How a business can be profitable and still
fail financially
-
Introduction to automated bookkeeping system
and how it relates to concepts acquired from the
class
-
Practical exercises
-
Work will be assigned to gather the data
necessary to complete your customized
statements
INDIVIDUAL
FOLLOW-UP
Following the first class, somebody from Kensington Associates will meet with
you for two hours per week for four weeks. They will provide personal guidance
to assist you in compiling the data into your finacial statements.
Objectives
-
Develop
a 1 year income and cash flow forecast for your business
-
Interpret
financial statements to better understand revenue, expenses and assets
and liabilities
-
Points
to observe when reviewing financial statements
-
Implementation
of techniques and procedures to get payments from your customers faster
-
Getting
account payables to work better for your business
FOLLOW UP CLASS AGENDA
Morning
-
Review obervations made by
yourself and classmates
-
Discuss barriers encountered
when completing your financial statements
-
Identify best pratices learned
by participants
-
Develop a short term plan for
each business
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