By the end of this section learners will be able to understand a set of traditional management accounts line-by-line, analyse their performance to identify opportunities for growth, become familiar with accounting jargon, and formulate a credible weekly/monthly forecast.

Formal management account training is very seldom given in the Automotive Industry. This leads to managers becoming over reliant on their accountants. It is paramount to the success of a sales department that the manager has an intimate knowledge of their accounts. In so doing, a manager will have a greater understanding on how to grow their area of responsibility as a consequence of being able to identify strengths and opportunities.

In these lectures and learning guides David takes learners on a step-by-step journey. Each line of management accounts is discussed in detail with any jargon simplified. From this foundation the learner will then be guided through a scientific approach to forecasting. One of the key indicators of a strong manager is their ability to forecast up the chain of command accurately. Large over or under performance at month end suggests that the manager is working blind and lacks the professionalism and knowledge to fully understand their business, market, and team.

Once you have completed this course you will be equipped to produce credible and accurate forecasts which underpin the strategies for success day-to-day performance.