WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (2024)

Sale!

COURSE OVERVIEW

Financial management is one of the most important skills to ensure a successful business. As an entrepreneur you have to understand finances and apply it correctly. This course will help you to master the basics of financial management even if you have no background in finance.

It will guide you step by step in easily understandable terms and strengthen your ability to run a profitable business. You will be able to read and understand your financial statements to make informed decisions. This financial management course will equip you to do just that, and more. You will be able to strengthen your financial position, understand how the economy affects your business and how to budget for financial success.

Consider this quote by John Malinowski:

‘Understanding the finances of your business helps to ensure you can withstand downturns. It will allow you to take advantage of opportunities that arise, and it increases the business’s chances of long-term success.’

R4,600.00 Original price was: R4,600.00.Current price is: R3,450.00.

  • COURSE STRUCTURE
  • THIS COURSE WILL HELP YOU SOLVE THE FOLLOWING PROBLEMS
  • WHO COULD BENEFIT FROM THIS COURSE
  • TIME INVESTMENT
  • WHO YOU WILL LEARN FROM
  • HOW WILL YOU LEARN
  • TECHNICAL AND ENTRY REQUIREMENTS
  • CERTIFICATES AND REWARDS

THIS COURSE WILL HELP YOU SOLVE THE FOLLOWING PROBLEMS

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (3)

Financial accountingis an essential part of running an effective business, therefore you need to master the skill of book-keeping.Even if you outsource your book-keeping, you still need a basic understanding of what your books are telling you to ensure you make the right financial decisions. This module aims to increase your understanding of accounting principles and practices by solving the following problems:

This module on financial accounting will help you solve the following problems:

  • Why do I need to grasp the economy and financial environment for success?
  • How do I budget forfinancial success?

WHO COULD BENEFIT FROM THIS COURSE

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (4)

This module on financial success if for current and aspiring entrepreneurs who want an increased understading of financial instruments and tools and the economic environmoents in which they function.

Do these questions describe you?

  • Are you doing the finance of your business yourself?
  • Are you a strategic decision maker for your business?
  • Do you want to equip yourself with the necessary knowledge and practices to make more effective descisions and better manage your finances?
  • Do you want to develop effective financial strategies to excel in your professional career?
  • Do you want to increase your budeting proficiency and control?
  • Do you want a better understanding of the relationshups between your business and the economy?
  • Do you want to be able to make sound decisions for your personal financial future?
  • Do you want to understand the true cost of credit and how to manage financial instruments?
  • Do you want to remain relevant in an every-changing world of work?
  • Do you want to embrace life-long learning and work towards recognised qualifications?

Then this module on Financial Success is for you!

TIME INVESTMENT

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (5)

This is an online course with learning material and assignments. The duration is based on your own pace and motivation.

This time commitment includes working through online content, completing assesments, reflection activities and any additional reading and enrichment activities to translate the content into your current situation.

WHO YOU WILL LEARN FROM

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (6)

COURSE DEVELOPER

Dr.Theovan Rooyen completed his studiesat 3 different Tertiary Institutions. He hasaDComin Management Accounting and aLaureatusTechnology in Cost Accounting.

His corporate career matured when he joined one of the financial institutions to manage the financial strategic planning and budgets of the group of companies.

Over the following 30years, his entrepreneurial spirit took over and accelerated. He acquired, grew and then sold several businesses including service stations, restaurants and insurance brokers.In 1998 he was nominated as one of the top franchisees in a leading restaurant franchise group.His business experience supported him as registered mentor for small and medium business enterprises to turn around several failing businesses into profitable investments.

His success as an entrepreneur is built on quality service and quality products supported by well trained staff.

HOW WILL YOU LEARN

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (7)

Every course consists of a series of topics that aim to solve problems you could be facing in your business as an entrepreneur. Each topic contains a number of lessons, each with a variety of activities and resources designed to aid your learning process.

  • Work through the content in each lesson
  • Take time to complete the progress quizzes to check your understanding
  • Explore any additional resources to gain access to valuable sources
  • Take time to reflect how you will apply the knowledge in your own business

TECHNICAL AND ENTRY REQUIREMENTS

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (8)

Basic Requirements

Please make sure that you are using a Browser or portable device that supports HTML5.

Browser Requirements Moodle is compatible with any standards compliant web browser. We regularly test Moodle with the following browsers:

Desktop:

  • Chrome
  • Firefox
  • Safari
  • Edge
  • Internet Explorer

Mobile:

  • MobileSafari
  • Google Chrome

For the best experience and optimum security, we recommend that you keep your browser up to date. Please use the following link to make sure your browser is up to date: https://updatemybrowser.org/

Note: Legacy browsers with known compatibility issues with Moodle 3.5:

  • Internet Explorer 10 and below
  • Safari 7 and below

CERTIFICATES AND REWARDS

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (9)

You will be awarded a badge for every topic you complete with MyElearning so that you can build up your online learning profile.

Additional Accreditation Options:

The completion of all the relevant topics in this course will provide a delegate with supporting evidence to earn credits towards a different accredited course or skills programmes, such as Business Management, Business Advisory Services and or New Venture Creation on NQF Level 4 and NQF Level 5.

If you are interested to earn credits after completing the programme, you are more than welcome to contact any of the accredited training providers.

Please take note of the following important information with regards to earning credits on the NQF through the RPL (Recognition of Prior Learning) process:

  • You will need to complete all the topics of this course to qualify for accreditation. The completion of the assignments linked to each topic can provide some of the required evidence.
  • You will need to register as a learner on the programme through an accredited training provider.
  • An Accredited Provider can guide you on the appropriate qualification and the process that you should follow to earn credits that will be relevant for your career path. You will also receive guidance on compiling your portfolio of evidence.
  • The Provider can provide you with the appropriate assessment tools that you will have to complete, in order to be found competent on the credits.
  • It will be your responsibility to pay for the additional costs of the provider and the assessments and NLRD (National Learners Records Database) uploads.

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (10)

It is often said that you get what you pay for. Our UNIQUE product options and personalised support ensures that you get VALUE for your money, and more.

We will assist you in identifying the gaps that exist
within your professional and personal spheres of life.

We will make learning product recommendations
based on your unique analysis.

We will provide you with solutions-based learning material
for each topic you sign up for.

We will provide you with options for additional support
along your learning journey. This can include online coaching, options for official certifications through SAQA endorsed courses or contact us to discuss your personalized development journey. Send an e-mail to [email protected]

WHY YOU NEED TO KNOW THE FUNDAMENTALS OF FINANCIAL MANAGEMENT - From OK to Awesome (2024)

FAQs

Why is it important to understand the basics of financial management? ›

'Understanding the finances of your business helps to ensure you can withstand downturns. It will allow you to take advantage of opportunities that arise, and it increases the business's chances of long-term success. '

What are the fundamentals of financial management? ›

Financial management is the process of monitoring, controlling, protecting and reporting the financial resources of the company. What are the fundamental objectives of financial management? Financial management has two main objectives including profit maximization as well as tracking liquidity and cash flow.

Why is it important for operating managers to understand the fundamentals of financial management? ›

If you are a manager with knowledge of financial management, you instantly improve your chances for a higher salary, more diverse career opportunities, greater job prospects, and career growth. Understanding the basics isn't only beneficial to your organisation, it's also helpful for your personal development.

What is the main purpose of financial management? ›

The purpose of financial management is to guide businesses or individuals on financial decisions that affect financial stability both now and in the future.

Why is it important to understand the basic financial concepts? ›

Regardless of your position in an organization, it's beneficial to know basic financial concepts to help you make more informed decisions. Gaining financial fluency allows you to evaluate news, understand trends and business announcements, and plan both personal and professional finances.

What is financial management in your own understanding? ›

Financial management is all about monitoring, controlling, protecting, and reporting on a company's financial resources. Companies have accountants or finance teams responsible for managing their finances, including all bank transactions, loans, debts, investments, and other sources of funding.

What are the fundamental principles of financial management? ›

II. Principles
  • Principle 1: A budget must be established to provide a tool to:
  • Principle 2: A budget must be realistic, reasonable and attainable.
  • Principle 3: A budget must be based on a thorough analysis that includes:
  • Principle 4: Actual financial results must be compared to the budget on a regular basis to:

What are the basic fundamentals of management? ›

At the most fundamental level, management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling. These five functions are part of a body of practices and theories on how to be a successful manager.

What are the 3 major areas of financial management? ›

These include an Investment Decision, Financing Decision, and Dividend Decision. Understanding how decisions can be made in each of these areas in order to further the goals and objectives of an organization will improve its financial performance and provide insulation against failure or collapse.

What is the value of financial management? ›

Helps in improving the profitability of organisations. Increases the overall value of firms or organisations. Provides economic stability. Encourages employees to save money, which helps them in personal financial planning.

Why is financial management important for individuals? ›

Here are a few key reasons why financial management is important for individuals and organizations: Planning for the future - Financial management allows you to plan for important future goals like retirement, your children's education, buying a house, etc.

Why study financial management? ›

A financial management course will provide you with the skills and knowledge you need to make healthy financial decisions in your personal and professional life. You will learn how to manage your own finances, make good investments, and prepare for the future.

What is the conclusion of financial management? ›

In conclusion, financial management is a guiding force that enables businesses to optimize their resources, make informed financial decisions, and achieve their profit objectives while maintaining long-term sustainability.

What are the three roles of financial management? ›

The financial manager's responsibilities include financial planning, investing (spending money), and financing (raising money). Maximizing the value of the firm is the main goal of the financial manager, whose decisions often have long-term effects.

What is the ultimate concern of financial management? ›

The ultimate purpose of Financial management is: to get a maximum return. to increase the wealth of owners.

Why it is important to understand the basics of financial planning? ›

It can improve your understanding of your financial circ*mstances at all times. It establishes important short- and long-term financial goals upon which you can base your investment planning. It clarifies the actions required to achieve your various financial goals.

Why is it important to understand the financial system? ›

These institutions provide a framework to conduct economic transactions and monetary policy and to channel savings into investment, thus supporting economic growth. When financial crises occur, they can have far-reaching effects. They can deepen economic downturns, trigger capital flight, and lower exchange rates.

Why is the study of financial management important to your career? ›

Solid financial management enables the CFO or VP of finance to provide data that supports creation of a long-range vision, informs decisions on where to invest, and yields insights on how to fund those investments, liquidity, profitability, cash runway and more.

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