Learn how to create a forecast and how to budget - transferable skills for both business and personal finance.
This course is for the self-employed, business owner/manager and accounting student as well as the individual who wants to understand how to create a cashflow forecast (on excel) and how to set a budget.
The course is ideal if you want to improve your finances (both in business or from a personal perspective). The course covers budgeting (how to set a budget and what budgeting is), and cashflow – how to create a cashflow forecast, how to improve upon a cashflow forecast and the implications of bad debt and poor cashflow management.
An excel template cashflow forecast and an excel budget template is included. You can use these templates and amend them to suit yourself – be it for personal or business use.
We go through a cashflow forecast exercise / example together – inputting the income, the expense and working out the net cashflow. We then calculate the closing bank balance and when we’re likely to need an overdraft. We look at ways in which we can improve upon the cashflow forecast and discuss the implications of not collecting in the cash owed to use in a timely manner.
We explore the issue of debt and the implications of late payments on a business and what can be done about it. We also look at budgeting – how to set a budget, and the different types of expenses.
The course is structured in such a way that it is very practical. We have a go at a cashflow forecast example with estimated numbers and we look at what this forecast shows us. The templates are all editable and reusable in your own ‘real life’ be it business life or personal life. You are given practical tasks to complete i.e. to maintain a money diary for a week as we want this to be a useful and practical experience.
It's worth taking this course if you are required to do a cashflow forecast and you’ve never had to do one before, or if you have to budget and manage your personal or business finances and you want to be able to manage this task more effectively.
Infopreneur, Author & Bookkeeping tutor
Lisa Newton BA MSc AAT has a Masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her first company in 2004 with £150 in the same month of graduating from City University, London UK. Lisa has never had a full-time 9 to 5 job in her life. She's a serial entrepreneur and author who holds directorships in various industries including telecoms, property management, publishing, hair & beauty as well as finance. She has won various awards in Business including: Young Entrepreneur of the Year Award 2007, in 2008 Enterprising Business Award, in 2016 BE Mogul Award and has been nominated and shortlisted in numerous others. In 2011 and in 2012 one of her companies won Best Accounting Franchisor Award. In 2015 and 2017 one of her companies won Best Bookkeeping Business London (Accountancy International Awards). Lisa's books include: How to write a book in two weeks, Constant Cashflow, Make the most of your money, How to start your own bookkeeping business, Cosmic Ordering with Vision Boards, How to Franchise Your Business and Quickbooks Online The Handbook. Some of the books are in audio-format on itunes and audible. Lisa hosts her own show The Authors Podcast which can be found on the iTunes channel. Lisa supports the charity The MS Society. A speaker, coach, consultant and an avid networker, Lisa enjoys meeting people and working on projects with like-minded individuals. In her spare time, Lisa likes traveling, dancing salsa, writing books, learning languages, meditation, yoga and cosmic ordering.
