#BU-03-78 Starting a BusinessⅤ: Managing Finances
About Course
University of LeedsDescription
The management of finances is crucial to a successful business; financial information provides the evidence to support your decisions about a business and helps to justify those decisions when you present them to other people. Whether you have an idea for a future venture or you already have a side-line business whilst studying, this course will introduce you to key financial information and gives you a chance to discuss your ideas with others.
This course is the fifth in a series of six about ‘starting a business’.
What topics will you cover?
- The importance of financial information
- An introduction to key financial information: sales revenue forecast; profit and loss forecast; and cash flow forecast
- Analysing and interpreting financial performance
- How to increase profitability
- Marketing a product in terms of price and number of sales
- Key financial forecasts: determining the viability of a business opportunity
- The business plan: business finances
Who will you learn with?
Lecturer in Enterprise at the University of Leeds. Passionate about entrepreneurship. Part of the Leeds Enterprise Centre team delivering ‘Starting a Business’ http://lec.leeds.ac.uk/about/lec-staff
Who developed the course?
As one of the UK’s largest research-based universities, the University of Leeds is a member of the prestigious Russell Group and a centre of excellence for teaching.
What Will I Learn?
- Discuss why forecasting and planning are key skills within any successful business.
- Discuss sales revenue forecast, net profit and the purpose of a cash flow forecast.
- Evaluate the entrepreneur’s business challenge: How can Hannah make her business more profitable?
- Identify business finances in a business plan.
- Assess costs, prices, gross profit and cash flow forecasts.