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Date: 4th June 2019

Time: 09:15 - 16:30

Location:
Law Society of Scotland
Atria One, 144 Morrison Street, Edinburgh, EH3 8EX, United Kingdom

CPD Hours: 5.5


Book by 23 November to save 20% with our early bird rate

Breaking through financial jargon to interpret account statements and balance sheets can be daunting. This one day course will give you the knowledge and skills required to operate with confidence when undertaking finance tasks.

Karen Price, founder of KMP Training, will explain budget control and accurate forecasting, effective cost-management, how to understand company accounts and cash flow statements as well as how to make a business case for investment in this essential and practical course.

This introductory one-day workshop is perfect for legal professionals at all levels who wish to gain a practical working knowledge of finance. It would also be of particular relevance for those looking towards their next career milestone or level of responsibility.

Financial management is no longer the preserve of Senior Partners, Senior General Counsel, CFOs and Finance Directors as more and more responsibilities are devolved to middle management.

Essential finance skills is recommended for solicitors who have, or who are looking toward taking on, responsibility for the finances of their department, taking charge of a budget for their department, work closely on transactions with finance colleagues, or who want to understand more about their organisation’s financial strategy. Whether you have recently taken on budgetary responsibilities for the first time or wish to broaden you financial knowledge, our one day course will give you the tools required to operate confidently and competently when undertaking finance tasks.

  • Understanding the financial jargon
  • How to construct a budget
  • Components of operational and sales budgets
  • Budgeting for capital expenditure
  • Forecasting and forecasting aids and how to interpret the trends
  • Cost types and behaviours
  • The importance of credit control and managing cash flows
  • How to interpret accounts, profit and loss statements and balance sheets
  • Company reports and accounts
  • Key accounting ratios
  • Company valuations and acquisitions
  • How to make a business case for investment and the financial criteria required

Reduced rate (Trainees, new members, accredited paralegals)

  • £245 + VAT
  • £195 + VAT (more than one place)

Member rate

  • £295 + VAT
  • £245 + VAT (more than one place)

Non-member rate

  • £345 + VAT
  • £295 + VAT (more than one place)

Unemployed member

  • £195 + VAT

To book more than one place, enquire about bespoke and/ or in-house training please email CPD@lawscot.org.uk

Trainer

Karen was previously a divisional finance director with a large media group and later took responsibility for all management training within the division.

Karen has planned, co-ordinated and delivered management training up to board level in a major publishing company. She has also operated as an internal consultant on human resources issues and advised on gaining recognition under the Investors in People scheme.

A former finance director, Karen is a member of the Institute of Credit Management.

Reduced rate (Trainees, new members, accredited paralegals)

  • £245 + VAT
  • £195 + VAT (more than one place)

Member rate

  • £295 + VAT
  • £245 + VAT (more than one place)

Non-member rate

  • £345 + VAT
  • £295 + VAT (more than one place)

Unemployed member

  • £195 + VAT

To book more than one place, please email CPD@lawscot.org.uk

Testimonials

"All of it was very useful, I enjoyed learning the jargon. One of the more enjoyable CPD courses I have attended."

"My knowledge has increased immensely."

"Very good – very engaging."

"The course was very enjoyable, even the exercises."

"Very good…made light work of what could have been a dry subject. Good balance between practical work and teaching."

"Excellent trainer, very helpful."

"Fantastic! Karen kept the group interested in quite a technical dry subject matter."

  • 09:00 - 09:15

    Registration and refreshments
  • The first session of the day will help you to create and understand your budget accurately over the year so as to identify the peaks and troughs of income and expenditure and help you avoid any nasty surprises late in the year.

    This session will cover:

    • Understanding the financial jargon
    • How to construct a budget
    • Components of operational and sales budgets
    • Budgeting for capital expenditure
    • Monitoring and reviewing the budget
    • Forecasting and forecasting aids and interpreting the trends

  • 10:35 - 10:45

    Questions and discussion
  • 10:45 - 11:00

    Refreshments and networking
  • Cost management is the process of planning and controlling the budget of a business. For managers cost management is a vital form of management accounting that allows a business to predict impending costs and helps to reduce the chance of going over budget.

    This session will cover:

    • Cost types and behaviours, impact of decisions
    • Direct and indirect costs
    • How costs and profit are determined
    • Importance of credit control and managing cash flows

  • 11:30 - 12:30

    Practical work and discussion
  • 12:30 - 13:15

    Lunch and networking
  • Knowing what is on a balance sheet and understanding what to do with the information it contains is vital for many modern management roles. Once you can get a grip on the numbers you will able to gain insights into the health of your department/organisation that will help considerably with forward planning.

    This session will cover:

    • How to interpret accounts, profit and loss statements and balance sheets
    • Company Reports and Accounts
    • Key accounting ratios
    • Company valuations and acquisitions

  • 14:00 - 14:45

    Practical work and discussion
  • 14:45 - 15:00

    Refreshments and networking
  • Having a structure to follow, and understanding the impact of a financial spend, will enable you to produce a well formed investment idea. This will also increase the chances of gaining approval.

    This session will cover:

    • Why do we need to invest?
    • Different types of investment
    • Making a business case for investment
    • Financial criteria required

    • Costing an investment idea and debrief

    • Personal Action points and delegate course assessments

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