The document summarizes a webinar on finance for operational managers presented by Nigel Gorski on October 22, 2014. It provides an introduction to Nigel's qualifications and experience in accounting, business mentoring, and training. The webinar covers why financial metrics are important for managers, the differences between profit and cash, how managers can influence profit, and key performance indicators. It concludes with a question and answer section.

1. Finance for Operational Managers
By: Nigel Gorski
On: 22nd October 2014 @ 13:00
FREE
WEBINAR
Starting soon

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Business Savvy, Training Know How
Finance for Operational Managers
22 October 2014
Nigel Gorski
© The Business Springboard Limited 2014

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t: 0113 2089922
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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

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t: 0113 2089922
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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.

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Welcome
Introduction
Why are numbers important?
Why are profit and cash different?
How managers can make a difference
Key performance indicators
Questions & Answers

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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!

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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

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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

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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!

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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!

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Questions & Answers

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t: 0113 2089922
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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?

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Our 2014/15 Schedule

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