Description
1: Fundamentals of Cash Management
- Introduction to Cash Management:
- Importance of effective cash management in an organization
- Key components and challenges of cash management
- Cash Flow Principles and Best Practices:
- Understanding cash inflows and outflows
- Strategies for optimizing cash flow
- Overview of Payment Systems:
- Different types of payment systems (cash, electronic transfers, credit systems)
- Emerging trends in payment methods
2: Bank Reconciliation
- Understanding Bank Reconciliation:
- Purpose and importance of bank reconciliation
- Common discrepancies in bank reconciliation
- Steps in Preparing a Bank Reconciliation Statement:
- Reviewing bank statements
- Matching transactions and identifying variances
- Automating Bank Reconciliation:
- Leveraging Excel for reconciliation processes
- Tools and software for bank reconciliation
3: Managing the Cash Book
- Structure and Purpose of the Cash Book:
- Types of cash books (single, double, and triple-column)
- Recording cash and bank transactions
- Maintaining Accurate Records:
- Best practices for updating and reviewing the cash book
- Handling petty cash and its documentation
- Using Excel for Cash Book Management:
- Designing templates for cash book management
- Automating cash book updates and summaries
4: Financial Statement Integration
- Preparing Financial Statements:
- Role of cash-related accounts in financial statements
- Interpreting key financial statements (Balance Sheet, Income Statement, Cash Flow Statement)
- Analyzing Cash Performance:
- Identifying trends and variances in cash flow
- Linking cash performance to overall financial health
- Tools for Financial Reporting:
- Advanced Excel functions for financial statement analysis
- Dashboards and visual reports for cash insights
5: Advanced Excel Applications in Cash Management
1: Data Analysis and Automation for Cash Management
- Excel Functions for Cash Management:
- Use of SUMIFS, COUNTIFS, and other conditional functions
- Creating dynamic range formulas for cash tracking
- Pivot Tables and Charts for Cash Reporting:
- Designing cash flow summaries using pivot tables
- Visualizing trends with Excel charts
- Automating Cash Reconciliation Processes:
- Using macros to streamline reconciliation tasks
- Building templates for repeated processes
2: Advanced Excel for Budget and Payment Tracking
- Designing Budget vs. Actual Analysis Models:
- Creating Excel models to compare budgeted and actual cash flows
- Highlighting variances with conditional formatting
- Tracking Multiple Payment Systems:
- Structuring Excel sheets to manage diverse payment systems
- Integrating data from external sources (bank statements, payment platforms)
- Dashboards for Cash Performance Monitoring:
- Building interactive dashboards using slicers and charts
- Linking real-time data for up-to-date reporting
Description
Comprehensive Cash Management: Best Practices for Reconciliation, Tracking, and Reporting
Objectives of the Course:
- Understand the Fundamentals of Cash Management:
- Grasp the importance of effective cash management in achieving organizational financial stability and operational efficiency.
- Master Bank Reconciliation Techniques:
- Learn how to prepare accurate bank reconciliation statements and resolve discrepancies effectively.
- Develop Skills in Cash Book Maintenance:
- Acquire the ability to maintain, update, and review cash books while ensuring compliance with accounting standards.
- Integrate Cash Management into Financial Statements:
- Understand the relationship between cash accounts and financial statements and utilize this knowledge for better financial reporting and decision-making.
- Leverage Advanced Excel Tools for Cash Management:
- Use Excel functions, formulas, and automation tools to enhance accuracy and efficiency in cash tracking, reporting, and reconciliation.
- Track and Manage Diverse Payment Systems:
- Gain insights into different payment systems and learn to manage them effectively within organizational operations.
- Enhance Decision-Making with Analytical Skills:
- Develop analytical skills to identify trends, variances, and opportunities for optimizing cash flow using data-driven insights.
- Create Interactive Dashboards for Cash Reporting:
- Learn to design Excel dashboards that provide real-time insights and comprehensive visualizations of cash performance.
- Apply Best Practices in Cash Budgeting and Performance Analysis:
- Understand how to align cash management practices with organizational budgeting and performance goals.
- Build Practical Skills through Hands-On Exercises:
- Engage in real-world case studies and practical sessions to ensure the application of learned concepts in professional environments.
This course is designed to equip participants with the skills and tools needed to excel in cash management, ensuring organizational financial health and operational excellence.
General Notes
GENERAL NOTES
i. The clients have many options on where they would wish to have the training
ii. The client should communicate their preferred training venue at least seven days before the training date failure to which the training shall take place in Nairobi.
iii. This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
iii. Training manuals and additional reference materials are provided to the participants.
iv. Upon successful completion of this course, participants will be issued with a Chania finance consultancy certificate.
v. The onsite training fee covers tuition fees, training materials, tea at 10am, lunch, tea at 4pm, training venue and a certificate on completion. Accommodation and travel may be arranged for our participants upon request.
vi. The online training fee covers tuition fees, training materials, and a certificate on completion.
Available at the following Venues
- Nairobi
- Google Meet
Choose the date you would like to take the course
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