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De-mystifying finance

Posted by Rachel Read on October 15, 2012

Are you intimidated by financial information? Have you ever been presented with a spreadsheet you simply don't understand? Lacking confidence with numbers and financial jargon is not unusual, yet it can be a real handicap when trying to influence within your organisation.

Let's take the terms margin and markup which are often confused.  If a clothes shop marks up it’s garments by 200%, it actually makes a gross margin of 60%. How does that work? Well, if a dress costs the shop £100, they aim to sell it for £300.  The £300 includes VAT so the net sales value to the shop is £250.  Now to work out the margin, if their sales are £250 and the cost £100, the margin or profit is £150. £150 as a percentage of £250 is 60% - the gross margin, or gross profit percentage is 60%. Still confused?  Our one-day Fundamentals of Finance course on Tuesday 4 December will address these and other confusing terms and common accounting myths.

Beginning with the basics of a profit and loss account and a balance sheet, the course will take you through to some more advanced financial analysis, to really build your confidence. Accounts needn’t be complicated. Paul Reid will deliver the course in layman’s terms and make it interesting.  Yes, I did just promise a finance course would be interesting... don’t believe me? Why not try it? Book a place on 01223 691 621 or rachel.read@helix-consultancy.com.

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