COURSE TITLE  Practical Financial Management for Small Businesses
Medium of Instruction  English
RESOURCE PERSON Mathushangar Yogendran & Sanjeev Devendran
TIME ALLOCATION 4 weeks (6 Hours)

Programme Objective(S)

Many successful small businesses grow to larger enterprises because they able to take efficient decisions on their businesses. Successful entrepreneurs know their number in their fingertips. They are able to set up systems to get their desired financial information for progressive decision making, they know how to interpret their financial statements, they know how to manage their cashflow problems, they have set up financial goals and they are measuring the achievements on a regular basis.

This course aims to provide practical knowledge for small business owners to understand and develop knowledge on Accounting & Finance for their organization. Specifically, the course aims to:

  1. Improve participant’s knowledge relating to cashflow management
  2. Encourage the trust on accounting being important for business success.
  3. Improve the understanding of various accounting controls, procedures and systems
  4. Develop financial skills in order to analyze financial statements and to make effective decisions.
  5. Improve the understanding of setting Goals for KPIs, Budgeting and Forecasting

Intended Learning Outcomes

On completion of this module, a successful participant should be able to:

  1. Identify and take actions to Improve the Cash flow Challenges
  2. Able to implement sound accounting Controls in their organization
  3. Able to select or evaluate the right Accounting System for their organization
  4. Analyze the existing Position and Performance of the business
  5. Able to set up Financial Key Performance indicators (KPIs)
  6. Able to put in place a Budget and a Forecast for their organization

Indicative Content

  • Introduction to Accounting Process, Controls & Systems
  • Introduction to Accounting Software and Tools for small businesses
  • Simplified Budgeting approach for Small Businesses
  • Interpretation of Financial Statements
  • Financial Analysis & Importance
  • Financial Key Performing Indicators
  • Cashflow Management

Indicative Content In Alignment With Learning Outcomes

  Topic Learning Outcomes
1 Introduction to Accounting Process, Controls & Systems 2
2 Introduction to Accounting Software and Tools for small businesses 3
3 Simplified Budgeting approach for Small Businesses 6
4 Interpretation of Financial Statements 4
5 Financial Analysis & Importance 5
6 Financial Key Performing Indicators 5
7 Cashflow management 6
8 Other tools, Techniques & Strategies 2

Coaching and Learning Methods

The module will be delivered online in a combination of explanation, discussions, case studies and activities.

The explanation will focus on the understanding of the key concepts and accounting theories. The interactive discussions is a practical learning scenarios to stimulate participants’ interests or their awareness of practical implications of some concepts. Activities will provide the participants with the opportunity to deepen their understanding and to explore further the applications of their learnings.