Is your organization equipped to survive the current financial crisis?
There is no question that these are challenging economic times for many businesses both large and small. Today's newspapers and airwaves are brimming with anxiety-ridden reports of recession, financial hardships and economic turmoil. Having or acquiring sound financial management skills is absolutely essential for companies who want to survive these difficult times. It is becoming more and more evident that everyone on board needs to understand how financial practices are integrated into day-to-day operations and how individual efforts and decisions contribute to the bottom line.
Are you ready to increase your team's financial competency?
Safeguard the future of your business with a breakthrough training program that will equip your organization with the sound financial management skills that are necessary to navigate today’s complicated economic landscape.
The Accounting Game® is one of the most engaging, entertaining and effective training workshops on financial literacy ever created...
In Just One Day, Employees Will Learn:
- The basic structure and purpose of the Balance Sheet; why this statement defines the basic accounting equation.
- The Income Statement – its purpose and structure and why the Income Statement’s bottom line is a key financial metric.
- Why the Cash Flow Statement is critical to managing the daily operations of your business.
- Generally Accepted Accounting Principles (GAAP); simple, easy to understand definitions and application of the key principles.
- Learn how revenue is captured on the Income Statement and the costs associated with producing this revenue.
- The difference between Accrual and Cash accounting; what is the criteria around who can use which method and why.
- The benefits of establishing accounts payable, notes payable and accounts receivable.
- Buying Fixed Assets.
- Two methods of depreciation and how this impacts tax liabilities.
- The three stages of inventory.
- Calculating Cost of Goods Sold and cost per unit.
- The difference between labor costs and salary costs.
- The impact of scrap/waste to gross profit.
- Why a healthy gross profit supports the operations of the business.
- How to analyze financial trends and calculate key ratios for better decision making.
- Zero in on which metrics drive Net Profit and discover ways to increase bottom line results.
- Why the two most important lines on the Balance Sheet also have their own Financial Statement.
- Experience bad debt expense and how this directly impacts Net Profit.
- How the basic terminology used in The Accounting Game translates to your company's terms.
- Create a three-year trend of your numbers and identify opportunities for involvement.
Register for a session now! Click here.
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