Understand Financial Statements
For managers, leaders, owners and directors
Half day, virtual or on-line
Financial literacy is a must have skill for all business leaders. It’s the foundation of making informed judgments and decisions to build financial resilience.
Understanding the financial statements is the key to being able to understand the performance of the business. The financials tell a story, but it’s a story book that leaders need to develop the skills to be able to read.
This workshop focuses on reading and interpreting financial statements, developing skills to be able to understand the inter-relationship between the various components of the financials, spot trends, anomalies and any warning signs. Analytical skills will be enhanced through the application of key ratios enabling a fuller picture of how the business is performing to be understood. Participants will develop their business acumen and confidence in their questions.
Workshop Content
This workshop uses the unique Colour Accounting Learning System “Now Let’s Talk Business Analysis” materials under license from Wealthvox.
Recap of foundational concepts underpinning financial literacy, e.g. how a balance sheet balances, distinction between cash and profit, explanations of commonly used terms.
Use a case study to review, analyse and interpret a set of example financial statements.
Explore the inter-relationship between the profit and loss account, balance sheet and cash flow statement, demonstrating why all 3 statements are required to understand the full picture.
Ratio analysis – using our case study, practice calculating and interpreting key ratios.
Practice correlating business strategy, objectives and decisions with financial performance.
Who is this workshop for?
For directors, business leaders and managers from a non-financial background who have experience of reviewing and working with accounts, are comfortable with the basics and wish to take their skills to the next level.
This workshop is ideal for a leader that now has whole of organisation financial responsibility.
Ideal for directors who need to be able to apply their existing knowledge to interpreting the financial statements.
Ideally participants will have completed “Essential finance skills”, accounting for non-accountants, finance for non-finance managers or similar previously.
Want to find out more?
For years, I have been wanting to step into the business analysis space, however I didn’t think that I had enough knowledge.
Working with Debbie has made me recognise that I do have the skillset and ability. She has given me the confidence to back myself, along with some useful tools to take the leap into this space.
Debbie is a skilled facilitator who demystifies the language and concepts of accounting.
Her “Colour Accounting” workshop makes understanding balance statements fun as well as effective. Highly recommend for business owners – whether large or small.
Debbie led one of the best courses I have attended a long time.
She’s very knowledgeable and explains complex things according to the level of the audience, I look forward to a future session!
Workshop Outcomes
Confidence navigating the financial statements and being able to talk to the financials.
Ability to identify trends and linkages within the accounts.
Know the relevance of key ratios, what they mean, how to calculate and interpret them. Determine the most relevant ratios for your business.
Monitor performance against business objectives and strategy through understanding the story the accounts are telling.
Spot any warning signs and know the questions to ask.
Understand the financial impact of key decisions.
Customised training
This session can be customised to meet the specific needs of your organisation to suit the audience, the time you have available and your desired outcomes.
“Debbie provided the board at Orana House a great workshop on understanding the charities financials. Including reading our profit and loss report and balance sheet, essential needs of any board member. Most importantly she made it easy to understand with an interactive style. Thank you Debbie”
– Sarah Bass, Board member Orana House
Let’s have a chat
Reach out for a FREE 15-minute discovery call so we can discuss the best option for your business.
dhm Coaching & Consulting as a licensee of Wealthvox ™ is licensed to facilitate Let’s Talk ™ workshop series using the Colour Accounting Learning System ™