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Lose Your Fear of Finance: Skills for Business and Research
Domain: C3 Finance, funding and resources

Format of Workshop: Information and Discussion/Practical
Suitable for: All

Financial awareness is a fundamental part of starting a business and is important within the research environment too. Whether you are thinking of starting your own business, are writing an important proposal, or just want to improve your financial knowledge and skills, this workshop will put you on track. At the end of the day you will be able to:
* prepare an operational cash budget using an Excel template
* understand what profit/loss statements and balance sheets are and how they are constructed
* understand the basics of ‘dragon’s den finance’ (“I’ll sell you 40% of my company for £1m”)
* tell how quickly a company pays its creditors and gets paid by its debtors
* understand the difference between capital and revenue items
* understand the difference between full and marginal costing
* understand the difference between overheads and direct costs
* fill out a VAT form
* know the meaning of accruals, depreciation, creditors, reserves, and a whole lot of other accounting terms