Bank Reconciliation And Petty Cash Management: Reconciling The Bank And Managing Cash To Ensure Liquidity And Profitability

• The importance and methods to reconcile bank balances effectively
• Policies of Best Practice adopted by leading international companies
• How to forecast, manage and control bank and cash balances
• Investment and Finance opportunities aimed at increasing returns and minimizing costs
• Advance issues relating to multi-currencies and cash shortages and surpluses

Content:

Bank Reconciliation

• What is a Bank Reconciliation Statement?
• The Importance of Bank Reconciliation
• Undertaking a Bank Reconciliation
• Report & Correcting Differences
• Avoiding Future Differences
• Controlling Bank Records & Balances

 Cash Flow – Past & Future

• The Importance of Cash & Liquidity – Cash is King
• Cash Flow Statements – Evaluating the PAST Cash Flow
• Cash Forecast & Budgets – Forecasting and evaluating the FUTURE Cash Flow
• Variance Analysis
• The Cash Flow Cycle & Operational Efficiency
• Working Capital – The ideal ratio

Cash Management

• An Overview of Cash Management
• The Optimal Cash Balance
• Sources of Short Term Finance
• Short Term Investment Opportunities
• Minimizing Interest Cost & Maximizing Interest Earned
• Minimizing Bank & Cash Balances

  Petty Cash Management

• What is Petty Cash?
• Forecasting Cash Needs
• Minimizing Cash Holding
• Recording Cash Transactions
• Balancing the Cash Balance
• Dealing with Foreign Currencies & Exchange Rate Risk

 Advanced Bank & Cash Management

• Managing Accounts Receivable & Payable
• Methods of Raising Short-term & Long-term finance
• Minimizing the Cost of Finance
• Bank Finance
• Factoring & Invoice Discounting
• Derivatives

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.