An Introduction to Academy Accounting and Finance.
This course gives you a basic understanding of the financial terminology and concepts required in Academy Accounting. Topics include:
- Understanding how debits and credits impact financial accounts.
- Recognising how the Balance Sheet effects the value of the business.
- How to understand the difference between cash held and the surplus of a business.
- What effect do prepayments, accruals, deferred income, accrued income have and why are they necessary?
- When is an item considered a Fixed Asset?
The day is interactive, so at no point will you be talked ‘at’. You will be actively participating in exercises that help to embed concepts. While many accounting courses struggle to keep you engaged (or awake), our exercises include a hypothetical shopping trip and the use of chocolate!
Understanding your Trial Balance and Management Accounts.
Designed to expand on the content of the Introduction of Academy Accounting course, this puts into practice how we should be viewing our trial balance and what we should be considering when completing monthly management accounts.
For many academies, year end is often a challenging time, when it should be a seamless transition from a good month end.
This course takes you through actual examples of transactions that should be considered as part of the preparation of monthly management accounts.
We look at the trial balance in greater detail and see how the transactions we post impact the balance sheet and income & expenditure
As with all of our courses, the day is interactive and contains exercises to support the course content.
Delegates should have attended the Introduction of Academy Accounting or already have a firm grasp of accounting concepts.
Budget Planning, Forward Forecasting and Budget Monitoring.
With academies and schools finding themselves under greater financial pressure, the need to have robust budgets combined with a realistic forward financial plan is integral to success.
This course gives an overview of what should be considered when setting a budget linked to the full academy ethos/direction.
We will work through various scenarios, highlighting the need to look at a range of both financial and non-financial factors that are essential when planning a budget.
This course is not dependent on what budgeting software you utilise and all staff involved in the budgeting process are welcome to attend.
Financial Management Training for Governors
With the responsibility of ensuring that academies are fulfilling the requirements of Financial Management, it is essential that governors have a good grasp of the academy’s financial position.
While this responsibility has always been a factor in the maintained sector, Governors were mainly able to focus on the income & expenditure as much of the balance sheet elements were dealt with by the local authority. As an academy, that responsibility now lays within the organisation.
Often this will mean that the Governors quickly need to grasp a thorough understanding of how the balance sheet can affect the financial position of an academy at any given time.
As many academies will also have changed their financial software to meet the additional requirements, they will also need to be able to understand the reports provided and indeed what information they should be given in order to fulfil their role as a ‘critical friend’.
This course will cover all of the above aspects as well as a whistle stop tour of the returns required by the EFA.
Bespoke Financial and System Training
While we have courses that have predetermined content, we are always flexible in our delivery and can also provide training courses that cover an aspect of Financial Management and System training that you wish to focus on.
Please contact us should you wish to discuss your training requirements further.