Financial Management (day 1)

One of the key areas leaders need to know is how to navigate the sometimes complex world of Finance. From the terminology used to interpretation and use of financial tools, this session will focus on the importance of Finance to any leader.

At the end of the session you'll be able to:

• Explain commercial cash flow and the basic financial concepts.
• Explain and interpret financial statements
• Compare broker financial dynamics with those of clients
• Differentiate between the concepts of liquidity, solvency and FCA capital adequacy
• Explain and use the key accounting and performance ratios
• Explain the process and techniques of budgeting and control
• Identify the key cost drivers that determine segment value and profitability

Our expert trainer in Finance will lead you through an interactive case study to fully understand the role finance plays in the modern-day brokerage.

• Explaining business cashflow model
• Understanding how to read, interpret and analyse financial statements including understanding basic accounting terms
• Applying business finance basics to build a balance sheet, P&L account, cashflow statement
• Comparing the financial dynamics of an insurance broker with those of their clients
• Differentiate between loss of turnover/fees and gross profit (BI sum insured)
• Interpreting financial performance
• Understand how operating decisions can be used to improve financial results
• Understanding liquidity, solvency, FCA capital adequacy
• Exploring the budgetary process and controls to enhance performance
• Understand how strategy and finance should be combined