FINANCIAL TRAINING FOR NON FINANCE MANAGERS

TWO DAYS TRAINING WORKSHOP

Key success factors that guarantee the sustainability and growth of your business.

TRUSTT AUDIT LIMITED Business Assurance Services

Understand and interpret key financial statements. Understand the requirements of Company Taxation and to identify the steps that can be taken to avoid being assessed and incurring unnecessary penalties. Use financial tools to evaluate the performance of your pharmacy. Be better able to communicate financial performance using financial terminology. Appreciate the need for internal control, risks management, financial management and compliance.

TRUSTT AUDIT LIMITEDBusiness Assurance Services

•A clear picture of the key financial statements - income statement, balance sheet and cash flows. Being able to convey financial issues clearly and concisely.

A good understanding of tax planning, computation, and compliance in your tax environment.

•A transformation of how you deal with the financial challenges you experience in your everyday work. Hence an immediate positive financial impact on your return to the office.

•A working knowledge of financial planning and reporting, including budgets and forecasts.

•An overview of the big picture - where you can get your capital from, how much it costs and the implications for your pharmacy.


SUPPLIERS PHARMACIST Understanding finance is a crucial

management skill, particularly as more and more businesses are windup because of liquidity crisis caused by poor financial management.

Advocating your key trading partners (pharmacists) with financial skills is a corporate responsibility on organisation - It minimises your exposure to credit risk and guarantee a positive cash flow.

We have designed our training to meet your needs, enabling you to engage with the pharmacists to secure a positive cash flow and framework used to achieve business process excellence .

Having a grip of your finances is a key success factor that guarantee the growth and sustainability of your pharmacy.

We work closely with you on course design through to implementation to ensure that we capture and address your pharmacy risks and opportunities.

Our training helps you to captalise on your strength, so you can convert your weaknesses to opportunities in order to minimise risks – for the achievement of business process excellence.


SESSION ONE: INTRODUCTION. SESSION TWO: TAXATION. SESSION THREE: FINANCIAL STATEMENT. SESSION FOUR: CASH IS KING. SESSION FIVE: WORKING CAPITAL. SESSION SIX: BUDGETING. SESSION SEVEN: FINANCIAL TECHNIQUES

TO SUPPORT DECISION MAKING. SESSION EIGHT: QUESTIONS


Financial understanding, financial management and financial controls, are key success factors that guarantee the sustainability and growth of your pharmacy business.

This is a unique opportunity for you to equip yourself and your pharmacy with the financial knowledge that has been tailored specifically for your pharmacy and the pharmaceutical industry.

Regardless of any prior exposure to finance in your career to date, or any finance-related academic studies, this course is designed to help you 'add value' as soon as you return to your pharmacy.

If you are, or will soon become a budget holder or if you are expected to use financial information as part of your job, then our training is ideal for you.


INTRODUCTION

Identifying and assessing the current financial difficulties faced by Pharmacists in Cameroon.


TAXATION Computation of your pharmacy corporation Tax . Completion of your corporate self assessment tax

return (DSF) via a practical case study. Accounting profits Vs taxman's profits (Common

Allowable and Disallowable). Use of your trading losses to maximise tax relief. Your employee (pharmacy attendant) benefit

disputes and working time including Minimum Wage Regulations .

Basics of PAYE. The incident of taxation on your pharmacy Car/Van Employee Dismissal Procedures. National Social Insurance contributions (CNPS).


FINANCIAL STATEMENTS A practical explanation of the various financial records and their

relevance. The content of such reports, for whom these reports are prepared, and the frequency of producing these reports.

The key financial questions you need to be asking and where to find the answers (in the Profit & Loss Account and Balance Sheet respectively).

The 5 essential elements you will find in your Profit & Loss Account and how you can use these to make instant sense of what you see.

A simple way to tell a strong balance sheet from a weak one with the aid of our special template.

We highlight the key lines of the balance sheet you need to focus on, whether in your own pharmacy, or that of a key customer or supplier.


CASH IS KING What drives the need for cash in your pharmacy. What you MUST know about the relationship between

sales and cash flow to safeguard a pharmacy business. The precise reasons strong profitability might not feed

through to your 'cash in the bank' and what you need to do about it.

Cash flow forecasts / projections and the common (yet critical) mistakes people make.

The critical factors that dictate your pharmacy can be more profitable than others and yet fail, or can be less profitable than others and yet thrive.


WORKING CAPITAL What working capital means and how much

your pharmacy need. Learn how effective inventory management

(Working Capital Management) can make the difference between a failing pharmacy and a prospering pharmacy.

Learn how efficient procurement can boost your pharmacy cash flow balances.

Credit control strategies – controlling cash flow without damaging relationship with your customers.


BUDGETING Link between your budgets and cash – your flow forecasts. Key issues that contribute to making your budgets realistic. How these key issues can be applied in the context of your

pharmacy business. What is meant by - Budgets v Forecasts? What are the different types of budgets and the different

scenarios in which they apply. How to foresee budget deficits (or excesses) as we look at

how best to track Budget v Actual. Budgeting issues that typically give rise to friction and how

to address them. How to see the story behind the numbers (Variance

Analysis). Particularly important if you want to make value-adding comments about your pharmacy performance.


FINANCIAL TECHNIQUES TO SUPPORT DECISION MAKING

Overview of decision making techniques. Relevant costs that influence your decision

making.


QUESTIONS


OUR FACILITATORS ARE THE BEST MINDS IN THE PROFESSION WITH HANDS-ON EXPERIENCE IN:

Financial management and reporting. Audit and Assurance. Risk & Corporate Governance. Corporate strategy from successful

multinational companies.


HANS MUSENJA Founder and Director of Trustt Audit Limited, has in excess of 15 years

experience of both internal and external auditing. Hans is a member of The Chartered Institute of Internal Auditors (IIA) England and Ireland, member of The Association for Compliance and Ethics Professionals (CEPs) – USA, member of The Association of Certified Fraud Examiners (ACFE), and member of The Institute of Business Consulting (MIBC) - UK.

Following an MSc in Audit Management and Consultancy from the Birmingham City University Business School, coupled with a bachelor's degree in Private English Law (LL.B), Hans worked on high profile transactions for a number of listed and private companies, including forensic and due diligence assignments. This enabled Hans to develop his expertise on various Auditing and Professional Practices Frameworks as well as working alongside many bankers, lawyers, venture capitalists and entrepreneurs.

Having completed assignments across the United Kingdom (UK), as well as in Europe and in Africa, Hans's experience of having been involved in all aspects of Internal Auditing, Risk Management and Corporate Finance gives him a unique perspective on lead advisory audit management and consultancy.


PATRICE ELONGE Director of Trustt Audit Ltd, is a member of the Association of Chartered

Certified Accountants (ACCA), and a member of the Best Practice User Group for Project Management. Patrice is also a Director of Poseday Ltd - a company specialising in the provision of financial services.

Patrice’s career started over 13 years ago in the financial services sector. He subsequently transferred his experience to the higher education and local government sectors, but his main impact would be in the central government sector. Here, he held roles such as Senior Accountant and Head of Finance for various organisations including Her Majesty’s (HM) Treasury where he was responsible for producing the Financial Accounts for 2007-8 and 2008-9 and also responsible for the project to implement IFRS at HM Treasury.

He also assisted in setting up the Asset Protection Agency- a very high profile department set up as a result of the financial crisis, to provide some stability in the banking sector within the UK and the wider economy.

Patrice’s specialty in management/financial accounting and developing training solutions has enable organisations make better use of financial information, particularly in respect of budgeting, forecasting and investment appraisal. Over the past years, Patrice has developed a commercial business simulation which has been adopted, with great success, by many clients throughout the world.


TWO DAYS IN-HOUSE TRAINING

TWO DAYS PUBLIC COURSES

Two days in-house training courses cost £2.800

Group booking cost £250 - £350 per delegate (Subject to number of delegates).


TO FIND OUT MORE ABOUT OUR TRAINING AND OTHER SERVICES: - Call us on +447949078994, +447931501237 or e-mail [email protected] CAN ALSO VISIT OUR WEBSITE www.trusttaudit.co.uk

OUR TRAINING IS: Focused – Our training is pertinent to you, your

pharmacy and your financial responsibilities (not someone else’s).

Adaptable - The level, pace and style of our training reflects your role, age, background and experience.

Flexible - Scope to spend more time on area that are of particular importance to you and your pharmacy.

Customised - The opportunity to spend time looking at and considering your pharmacy and its numbers so you can 'hit the ground running' after the course.


FINANCIAL TRAINING FOR NON FINANCE MANAGERS

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