Ever wondered about the difference between management accounts and financial statements? Perhaps you’d like to broaden your understanding of the Higher Education Sector's funding and the challenges of financial sustainability? Or maybe you’d like to learn how to make sense of your University’s financial statements and understand the principles of financial planning, budgeting, costing and pricing?
Demystifying Finance is designed for all those who want to improve their understanding of finance in higher education and develop their financial management skills. The workshop is open to those working in higher education in both academic and professional services roles.
Date: Thursday 06 June 2019
Demystifying Finance gave me a great overview of all aspects of HE finance and budgeting; useful help with the finance jargon and great hands-on exercises."
Katrina Mills, Principal Scholl Manager, University of Portsmouth
By the end of the day participants will have:
- Strengthened their understanding of their own University's finances and set them into the wider and national context
- Developed practical skills in budgeting, costing and pricing
- Will be less intimidated by financial jargon
- Be confident to seek out additional information and/or help and to identify knowledge gaps.
The workshop will cover:
- Where universities money comes from and how it is spent
- How to interpret your own University's financial statements
- Jargon busting and understanding some basic accounting concepts
- Understanding what 'financial sustainability' means and how to measure it
- How to budget for, cost and price activities
- Appreciating the importance of internal controls and financial regulations
University funding and understanding your accounts
Financial Sustainability - what is it and how can it be measured?
Budgeting, costing and pricing - the what, why and how.
Financial controls and audit - keeping you on the straight and narrow.
09.30 Arrival: Registrations and refreshments
09.45 Introductions, aims and agenda for the day
10.00 Session 1 – University funding - understanding the national picture and YOUR accounts
11.30 Refreshment break
11.45 Session 2 – Financial Sustainability - what is it, how do you measure it?
13.45 Session 3 – Budgeting costing and pricing - the what, why and how
15.15 Refreshment break
15.30 Session 4 – Financial controls and audit - keeping you on the straight and narrow
15.30 Session 5 – What’s still on your mind ? - a chance to tie up any loose ends….
16.20 Closing remarks
16.30 Close of day