Objectives:

Upon successful completion of this course, participants will be able to:

• Understand fundamental financial terminology, statements, and accounting principles.
• Develop, track, and manage a departmental or administrative operating budget effectively.
• Master the process of invoice handling, purchase order generation, and expense report processing.
• Analyze budget variances, explain deviations, and forecast future expenditure needs.
• Implement cost-control measures and identify areas for administrative cost savings.
• Liaise effectively with the finance department, using appropriate terminology and reports.
• Manage petty cash, reconcile accounts, and adhere to strict financial compliance policies.
• Utilize spreadsheets and financial software to create accurate, professional financial reports.

Target Audience:

• Administrative Assistants and Secretaries with budget responsibilities
• Office Managers and Department Coordinators
• Anyone responsible for processing invoices, expense reports, or purchase orders
• Staff who assist in budget preparation or financial reporting
• New employees needing a foundation in corporate finance and accounting basics
• Professionals looking to develop financial acumen for career advancement

• Hands-on lab exercises for creating and tracking a departmental budget in a spreadsheet program.
• Case studies focused on common administrative financial fraud and control failures.
• Group activity: conducting variance analysis on a simulated budget-to-actual report.
• Role-playing scenarios for justifying a budget request to a senior manager.
• Practical exercises in processing invoices, POs, and expense reports using mock data.
• Interactive discussions on financial compliance and internal control best practices.
• Terminology quiz and financial document interpretation practice.

Unit 1: Financial and Accounting Fundamentals

• Understanding the difference between capital expenditure (CapEx) and operating expenditure (OpEx).
• Defining basic financial statements: P&L (Income Statement), Balance Sheet, and Cash Flow.
• The concept of accrual vs. cash accounting and how it impacts administrative records.
• Essential financial terms: Gross Margin, ROI, Depreciation, and Fixed vs. Variable Costs.

• Understanding the full Procure-to-Pay process (Requisition, PO, Receipt, Invoice, Payment).
• The importance of internal controls, segregation of duties, and fraud prevention.
• Compliance with internal financial policies and external regulatory requirements.
• Working effectively with the Accounts Payable and Accounts Receivable departments.

Unit 2: Budget Development and Planning

• Understanding the annual budget cycle and the administrative professional's role.
• Developing a zero-based budget (ZBB) or incremental budget for the administrative function.
• Forecasting administrative needs: supplies, services, and capital equipment.
• Techniques for justifying budget requests and presenting needs to management.

• Setting up an easy-to-track digital budget template (Excel, financial software).
• Mapping expenditures to correct general ledger (GL) codes and cost centers.
• Differentiating between hard, soft, and discretionary costs in the administrative budget.
• Implementing a system for real-time tracking of commitments and actual spend.

Unit 3: Procurement and Expenditure Management

• Creating accurate Purchase Requisitions and generating Purchase Orders (POs) efficiently.
• Implementing best practices for vendor selection and price comparison.
• Processing and tracking invoices, ensuring three-way matching (PO, Receipt, Invoice).
• Managing corporate purchasing cards and ensuring policy compliance.

• Mastering the processing and auditing of complex employee and executive expense reports.
• Understanding allowable vs. non-allowable expenses according to company policy and IRS/tax laws.
• Reconciling monthly credit card statements and addressing discrepancies.
• Managing petty cash funds and ensuring detailed, compliant reconciliation logs.

Unit 4: Financial Reporting and Analysis

• Generating and interpreting monthly budget-to-actual reports from financial systems.
• Conducting variance analysis: identifying significant deviations and their root causes.
• Writing clear, concise executive summaries for financial reports and budget reviews.
• Using forecasting models to predict future spending trends and potential shortfalls.

• Identifying and implementing continuous cost-saving opportunities in supplies and services.
• Negotiating renewals and service agreements for better financial value.
• Analyzing administrative resource usage to maximize efficiency and minimize waste.
• Developing ROI arguments for new administrative technology or equipment purchases.

Unit 5: Financial Compliance and Integrity

• Understanding the importance of internal controls in preventing theft and error.
• Maintaining an organized, auditable archive of all financial documentation.
• Preparing administrative records and responding effectively during internal and external audits.
• Implementing separation of duties for payment approvals and reconciliation.

• Communicating administrative financial needs and performance using appropriate terminology.
• Building a strong, collaborative relationship with the finance and accounting teams.
• Seeking guidance on complex financial transactions and policy interpretation.
• Serving as the financial control gatekeeper for the administrative department.