Finance for Operational Managers

Finance for Operational Managers

By: Nigel Gorski

On: 22nd October 2014 @ 13:00

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Business Savvy, Training Know How

Finance for Operational

Managers

22 October 2014

Nigel Gorski

© The Business Springboard Limited 2014




About Your Presenter

Nigel is a fully qualified chartered accountant with considerable people management and training experience. He has not only worked in industry and for one of the ‘big 4’ accountancy firms but now runs his own accountancy practice. Nigel has considerable business mentoring experience and delivers the following modules for The Business Springboard:

Finance for non financial managers – 1 day

Managing Performance & feedback – 1 day

Delivering exceptional customer service – 1 day

Team Working – ½ Day



Disclaimer & Copyright

These materials are designed solely for the use of participants on our courses. These materials shall not be copied or reproduced in any format whatsoever without the prior consent of The Business Springboard Limited.

The content of these materials does not constitute advice tailored to any participant’s specific needs and to the maximum extent permitted by applicable law, The Business Springboard or any of its employees or associates shall not be held liable for any direct, indirect or consequential loss or damage arising as a result of use of these materials.



Welcome

Introduction

Why are numbers important?

Why are profit and cash different?

How managers can make a difference

Key performance indicators

Questions & Answers



Why Are Numbers Important?

Organisations are under increasing pressure to deliver more

shareholder value at a reduced unit cost

It has never been more important for objectives to be aligned

between teams to deliver stretching targets

Focus often sits with financial targets and often how these are

derived can be a source of frustration for managers

Managers can sometimes shy away from difficult conversations

that data presents

There is therefore an increasing requirement for ‘successful

balanced’ managers to be able to understand the numbers and

have logical conversations with their finance team!



Suppliers Capital from Shareholders

Cash from Financiers

Staff

Overheads

Financiers

Taxes

If Cash out exceeds Cash in – then the business needs to

ACT

Aim is to trade Profitability and achieve Positive Cash Flow

Regular financial

information – don’t leave it

until year end!

Cash from Customers

Income Outgoings

Profit and Cash



Examples can include:

Staff Costs

Overtime

Bonus Schemes

Direct costs of any goods

Variable Premises Costs

Travel

Inside of your Control (Direct

Charge?)

Outside of your Control

(Central Charge?)

Examples can include

Rent & Business Rates

IT

Professional Fees

Depreciation

advertising

Payroll / Value Added Taxes

In reality, some

may not be

changed easily

getting more

value may be an

easier option

How can you be

more efficient?

How can you

monitor this?

How You Might Influence Profit?

The Red v Green Test



Key Performance Indicators

Everyone talks about ‘SMARTER’ targets – is the

phrase overdone?

These are often harder to determine than people think

and this can lead to mixed performance on the floor

When generic phrases / targets creep in then that

leads to performance confusion

To be true to ‘SMARTER’ targets the business needs

to be broken down top down and everyone needs to

understand their contribution!

Managers can’t shy away from giving positive and

negative feedback!



In Summary

Numbers are important

Managers will find it hard to shy away from the

numbers!

Managers are likely to have objectives based on

numbers- think about the green and red boxes before

agreeing to them

The organisation ignores the numbers at its peril

Numbers can be fun!



Questions & Answers



Following the successes of our in-house programmes, The Business

Springboard is currently running a serious of Masterclass training

courses, designed to give a focused, bite sized training session to

develop managers in key areas (funding may be available for smaller

employers):

Small groups to allow individual mentoring and action planning

Half day courses

Making real changes by enhancing management skill sets

Topics include Managing Performance, Giving Feedback,

Interview Sills and Attendance Management

See website for schedule

www.thebusinessspringboard.co.uk/open-courses

Want to learn more?



Our 2014/15 Schedule

Engaging Untapped Talent with

Flexible Working By: Tracey Eker

On: 29th October 2014 @ 13:00

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Finance for Operational Managers

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