Financial Management for Non-Financial Managers
Understanding about the numbers is NOT just something for CFOs and accounting staff. Architecture and engineering professionals and managers who don't have a solid foundation in basic finance and accounting handicap your business and their own careers.
In today's competitive business environment every manager needs to accountable for the bottom line. Whether it's to justify a new hire or purchasing new equipment, when creating or defending a project budget, or presenting realistic revenue projections or expenses--understanding the firm-wide impact will inform decisions and improve the outcome.
These five finance fundamentals present the greatest challenges to non-finance managers:
- Understanding the difference in cash and accrual
- What an effective multiplier is
- Why pushing utilization doesn't work
- What unbilled WIP is and why you want to minimize it
- What average collection period is and why 90 days is not OK
ATTENDEES WILL LEARN:
- How to read and interpret an income statement and balance sheet
- Ten strategic cash flow tips
- How marketing improves profit and cash flow
- Ways to improve the collection process
- What financial software programs should provide
- The basics and benefits of open book management
WHO SHOULD ATTEND:
Architects, designers, project managers, department managers, marketing staff, operations managers, branch managers, engineers, human resources professionals, IT directors...Anyone who works on proposals, projects, or budgets will benefit from the information in this seminar.