The University of Leeds, UK has launched a free online course on Starting a Business: Managing Finances for students interested in starting a venture or already have a side-line business. Based on how forecasting and managing finances work, the course is aimed at teaching how the two can lead to a profitable and sustainable business. The course will give students an idea ofkey financial information along with a chance to discuss their ideas with like-minded people.
The course will include topics such as an introduction to key financial information: profit and loss forecast, sales revenue forecast, and cash flow forecast; the importance of financial information; analysing and interpreting financial performance; marketing a product; how to increase profitability; key financial forecasts/determining the viability of a business; and the business plan.
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By the end of this course, a student should be able to discuss why planning and forecasting are key skills for a successful business; understand sales revenue forecast, net profit and what is the need for a cash flow forecast; identify business finances in a business plan; assess prices, costs, cash flow forecasts and gross profit; evaluate a business challenge faced by an entrepreneur.
The online course is a part of the Going to University collection, specially designed for students transitioning to schools and colleges. The collection also gives an understanding of an undergraduate study at the University of Leeds, making it easier for prospective students to decide if they want to higher education at the university.
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Completion of a course like this will enhance a students university application, which can also be used as a classroom enrichment resource for a teacher.
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