Finance for Marketing and Sales People
Course Code: MPDFMSP
Duration: 1 Day
Overview
This course is available on public schedule, closed company on/off site or 1-2-1.
The aim of this 1 day workshop style course is to equip marketing and sales people with the financial knowledge they need to fulfil their role and appreciate how their negotiations affect the financial performance of their company.
The programme is brisk and interactive and is delivered in layman's terms
Prerequisites
This programme has been specifically prepared for marketing and sales people.
Delegates will learn how to
- It will make people aware of the financial benefits of their decision making
- Give people confidence when negotiating financial aspects of transactions with customers; even the customers finance staff!
Course Outline
- Financial jargon & vocabulary Distribution of exercise defining common financial jargon and terms to be completed at end of day.
- The significance of profit
- Why is a profit needed?
- What factors determine how much profit is enough?
- The events and activities that affect profitability.
- Sales v. margins (including practical exercises)
- Defining margins - gross margins/contribution/net margin
- Margin v. mark up
- Different methods of calculating margin
- Defining direct and variable costs
- Defining indirect and fixed costs
- Understanding break even - volume x margin
- The factors when assessing selling prices
- An appreciation of company accounts
- Profit and loss account
- Balance Sheet
- Cash Flow Statement
- Cash Flow Forecast
- Financial vocabulary exercise Completion of exercise issued at start
- Action plans - what will you do now?