An understanding of the numbers and an ability to manage the key tool in business – money – is critical for business and personal success.
This one-day course is for anyone in publishing who wants to understand the basics of finance and budgets in a publishing environment.
- Getting to grips with your basic business tool
- Learning the language: getting to grips with financial terminology in publishing
- Basic principles
- The budget as a roadmap: purpose and use
- The basics of budgeting
- Compiling a budget
- Managing a budget
- Monitoring a budget through management accounts
How a book is costed and priced
- Fixed and variable costs
- Gross margin
- The effect of sales volume, pricing, and discounting on profitability
How to read management accounts
- Why do we have management accounts?
- Understanding the conventions of layout in accounts
- Where to find information
- Volume, value, percentages, and ratios
- Reading the Profit and Loss account
- Calculating the gross margin
- Return before Interest and Tax
- Reading the Cash Flow statement
- Reading the Balance Sheet
Key financial ratios and benchmarks in publishing
Interpreting and acting on management accounts
- How to identify trends
- Identifying problem areas
- Analyses: index analysis, common size analysis, time series analysis
- Taking action to remedy problems: policies, people, systems, culture
About the trainer:
Registration is on a first-come-first-served basis and workshop fees must be paid before the workshop. If the minimum number of participants is not met for the class, the organisers will inform all participants about possible postponement and cancellation, two weeks before the workshop date.
Cancellation & Substitution
The workshop can be cancelled or postponed two weeks before the workshop date if the minimum number of participants is not met. Participants will be fully refunded for workshops cancelled by us.
Participants who are unable to attend a workshop they have registered for are to inform us of the reason two weeks before the workshop date. They will be fully refunded in the event of extenuating and mitigating circumstances (E.g. illness, bereavement, accidents) . Those who inform us up to five (5) working days before the workshop date will receive a 50% refund. Participants can also attend another course at the same value within the same year.
Upon registration, you are deemed to have read and understood the cancellation, withdrawal and substitution policy and accept the terms contained therein.