Managing Finances Online - LabVine

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Managing Finances Online

Gain a critical understanding of the financial management of a laboratory and how to plan for future profitability.

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About Managing Finances Online

Managing Finances will provide you with an understanding of financial management and financial statements, and equip you with the ability to interpret and report on laboratory financials and plan for your lab's future profitability. [Included in the Lab Management Online course]

Developed by:
Power of Process
Duration:
2 weeks
Learning Mode:
eLearning

Topics

  • Financial Management
  • Financial Statements
  • Budgets
  • Controlling Costs
  • Making Financial Decisions

Credits

SMLTSA
5 CEU
PACE
3 Contact Hours
RCPath
5 CPD

Pricing

Chapter 1: Managing Finances

Introduction to Financial Management

30 minutes
Graded

This module introduces the framework that make ups the financial function. Components of this framework such as the the value of financial management, drivers that shape the implementation of financial activities and roles within the financial function will be discussed in this module.

Introduction to Accounting Transactions

30 minutes
Graded

This module unpacks the accounting elements and describes the recording of transactions in the accounting system.

Balance Sheets and Cash Flow Statements

30 minutes
Graded

This module focused on the reporting function of accounting which deals with the creation of financial statements. The balance sheets and cash flow statement were described.

The Income Statement

30 minutes
Graded

Financial statements are the core financial documents in an organisation, and provide different views on the company’s finances. This module describes the third type of financial statement, namely the income statement.

Introduction to Budgets

30 minutes
Graded

This module defines the terms associated with budgeting and describes the process of setting a budget.

Controlling Costs

30 minutes
Graded

This module discusses cost control and the ways and strategies that companies use to manage their cost drivers.

Making Financial Decisions

30 minutes
Graded

This module focuses on how decision-making is supported. Aspects such as enterprise resource planning systems, analysing budget variances and identifying opportunities for improvement in the budgeting process will be discussed.