BEE Champions need financial skills to manage the BEE scorecard

Are you a BEE Champion struggling to understand financial information? The BEE portfolio is about leading and managing Transformation. It is therefore imperative for the BEE Champion to have a strong and robust financial backbone to manage the BEE scorecard and transformation strategy.

 A measured entity can spend a significant amount of time and money to transform the company and achieve a required BEE level. It is therefore important for the measured entity to calculate the correct targets as per legislation to obtain the desired result. The targets on the scorecard are driven by the financial results of the measured entity.

What is the role of the BEE champion in understanding financial information?

Sound financial knowledge is required to manage the BEE scorecard effectively to:

• Calculate accurate BEE targets (required by most of the BEE pillars in the scorecard)
• Set, manage and update the BEE budget
• Calculate the return on investment/business case for the BEE budget to encourage business investment
• Apply general financial aspects to the BEE audit to ensure an optimised verification
• To calculate and maintain BEE scores and calculations
• To be able to read a set of financial statements to ensure the BEE budget and strategy is in line with the business budget and strategy 

Transcend's quarterly Finance for BEE Champions Course has been designed to give you the basic financial competencies to empower you to develop, implement and audit your company's BEE strategy as it aligns with the business goals. You will gain an understanding, as well as a practical application, of the following:

• A basic understanding of accounting fundamentals;
• An understanding of the Annual Financial Statements and Management accounts;
• Financial terms such as revenue, turnover, gross profit, net profit; indicative profit, etc;
• Calculation of Total Measured Procurement Spend (“TMPS”), including the relevant exclusions;
• The Budget review and,
• BEE target setting.

Seats are limited so book now to reserve yours on our half day course on the 26^th of May 2022 at a cost of R2 900 per delegate.

*Book a seat on our BEE Champions course to get 30% off the Finance for BEE Champions and only pay R1 950.

Should you need more information about the course, please do not hesitate to contact us