Opening Hours : Monday to Friday - 10am to 6pm

Address: 1st floor, 35-B, Block A, HBFC
Faisal Town, Lahore, Pakistan

Understanding Finance

With every organizations’ existence hinging on it’s ability to ensure cash flow, having a fundamental understanding of finance is essential.

The Understanding Finance virtual learning series unpacks the fundamentals of business finance. From preparing budgets to monitoring and reporting on financial performance, you’ll gain valuable insights in interpreting financial data, recognising the impact of financial strategies, and communicating effectively with finance professionals.

Learning Outcomes

Upon completion of this workshop you will be able to:

- Apply the fundamentals of financial management in the workplace

- Understand the main accounting terms and principles

- Prepare budgets

- Interpret the main financial statements

- Monitor and control finances

- Evaluate financial performance against budgets

Workshop Duration

Half day Workshop in Two Sessions

Course Outline

  • Welcome and introduction

Session overview and learning outcomes

  • Language of finance

Provides an overview of key financial terms as a framework for understanding business finance

  • Accounting principles

Introduces the accounting standards as endorsed by the Pakistan Accounting Standards Board

  • Accounting methods

Demonstrates the difference between cash and accrual accounting

  • Budgets

Introduces the budget cycle and the steps to follow in preparing for the budget period

  • Costs

Explores variable, fixed, direct and indirect costs and how to effectively manage them within the budget

  • Budget management

Identifies the need to regularly review performance against budget and the need for accurate estimating, forecasting and contingency planning

  • Welcome and introduction

Session overview and learning outcomes. Recap of Session One

  • Reporting

Examines the key differences between financial reports and financial statements prescribed by the Pakistan Accounting Standards Board

  • Profit and loss

Identifies how to interpret and assess statements of profit and loss to understand financial performance

  • Ratios

Introduces a range of ratio-based calculations for managing financial activity, inputs and outputs

  • Variance

Examines the impact of variance and from planned budgets to actual budget performance and how to analyze data to determine root cause

  • Cash flow management

Introduces the cash flow cycle, highlighting that while a business can survive temporarily without profit, they cannot survive without cash







1st floor, 35-B, Block A, HBFC Faisal Town, Lahore, Pakistan


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