Essentials of Business Finance May 30, 2019

Essentials of Business Finance

Finance is a hot topic in business at-the-moment and in our previous blog we discussed Budgeting, Forecasting and Planning. Let’s visit another finance topic for a London Training for Excellence training course, Essentials of Business Finance.

What are the Essentials of Business Finance? Every part of day-to-day business has a financial implication and it is vital for employees to understand the financial effects of their roles and actions. Whether you are a finance professional or work in a non-financial department it is important to have the skills necessary to understand these financial implications and impacts in relation to the bigger picture of the organisation.

Let’s take a look at 3 essential areas of Business Finance that should not be overlooked.

1. Presenting Financial data.

The presentation of financial data and information internally and externally is very important in being able to communicate financial matters, budgets, invoices, targets and forecasts with management and other team members. Presenting financial data, when appropriate, ensures transparency for financial matters amongst team members.

2. The use of financial data to manage the business.

Understanding the financial data/situation of your business is essential in being able to adapt your business operations accordingly to current financial situations and proactively manage any financial obstacles you may face. Finance professional will use various tools, methods and models to monitor and evaluate the financial situation. This includes external forces and threats that may impact an organisation.

3. Implementing planning and budgeting

Budgeting, forecasting and planning cannot be overlooked as it is core part of financial management that ensures a business stays financially sustainable and profitable. Without planning and budgeting organisations would not be able to track any financial operations, plan ahead or even sustain a cashflow.

London Training for Excellence’s Essentials of Business Finance course will teach you to understand finance and how it relates to your place in your organisation. It will give you a newly found confidence when dealing with financial matters backed by knowledge and newly acquired skills.

For more information on London TFE’s Essentials of Business Finance please follow the link below or contact sales@londontfe.com