About the course

Demonstrate an understanding of the basic financial statements to make financial analyses and prepare budget information. Apply skills to develop a business plan for a business unit and understand the role of a business strategy in managing a business unit or small business.

Looking at key performance measures, cost considerations, risk management and financial planning.

Key outcomes

• Monitoring and controlling the full range of disbursements applicable to a forwarding operation.
• Understand Basic financial & accounting terms
• Basic Understanding of Income statement, Balance sheet & Bank
• Calculating different ratios and margins (profit, operating, etc.)
• Focusing on the areas of making money in freight
• Understanding profit & loss in the freight industry
• Risk management (debtors, queries, cash 2 cash cycles, profitability of clients
• Explaining the concept of profitability benchmarking.
• Handling rate structure alternatives to those engaged in securing new business and retaining
  existing business.
• Processing and reporting on actual vs. benchmark profitability results to affected parties.

Ideal candidate

Operational line managers, sales executives, business owners or anyone dealing with day to day
financial aspects within the freight forwarding environment.

Duration

1 day

Unit Standards

252773 - Apply Financial operations in a freight forwarding environment

252258 - Gather information and report on customer profitability

Course Code: FIF