Finance Skills Test

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Finance Skills Checklist – how well do you score?

Check out the statements below. How many can you positively answer YES to?

 

Finance Skills Test
General

  • Do you lack the critical skills needed to ask key questions on financial matters?
  • Do you understand or take the time to listen to accounting staff, effectively leaving the decision making process to them?
  • Do external accountants/auditors fail to deliver a complete service (offering at best infrequent communication throughout the year)?
  • Are the accountants/auditors only really interested in the audit process, failing to add value in other areas?
  • Is feedback from your book-keepers weak on broader financial matters, their focus being directed towards simply meeting regular deadlines (invoicing, VAT, payroll…)?
  • Does a lack of management accounting expertise in your team cause concerns on issues such as; special order pricing decisions or on budgeting or capital expenditure issues?
  • Is the financing of payroll a challenge to you every month end?

Learning by doing – is at the very heart of the programme’s success. Through a balanced combination of theory, workbooks, Q&A’s and spreadsheets we have a learning experience that is both a fun and a truly unforgettable experience.

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Saying ‘Yes’ to just one of
these questions,
suggests you could benefit from one or more coaching sessions.

 
Jargon Busting – how many items below can confidently define or explain?

  1. The term ‘Capital’ is frequent topic in many financial discussions; do you know the difference for each context i.e. Owners Capital, Capital Investment and Working Capital
  2. Explain the difference between Gross and Net Profit?
  3. What are the 2 fundamental types of business assets?  Would you class goodwill and debtors as assets? What are the legal considerations associated with these terms?
  4. Define liability. What sort of liability is a bank overdraft?
  5. What are the legal issues surrounding the budgeting process?

Answering these questions may be quite challenging experience and help you to decide that finance understanding must move up from a “should know” to a “must know” skill.

Take a look at the Taster Day programme then give me a call 07973 330324 or complete the Contact Page with your details.