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Presentation/PPT
27/08/2022
We are going to be looking at the Balance Sheet (BS), the Profit and Loss Statement (P&L), and the Cash Flow Statement (CF). Obviously, all three are important but the P&L and Balance Sheet can reveal much about the current and dynamic state of the financial of the organization. This knowledge, while mundane for Accountants and Financial Managers, is sometimes not well understood even by high level managers of other departments. Marketing, Operations, Human Resources, Purchasing, Quality Assurance, and Sales departments need to deal with basic financial statements on a routine basis.
To some non-financial managers, the terminology and statements of the Finance Department can be as perplexing as a foreign language or a coded message. As a young manager, I attended an American Marketing Association course called “Finance for the Non-Financial Manager”. I thought it might be a waste of my time, but it really helped me advance in the organization. After the course, when I attended management meetings and the financial group presented their data using accounting jargon, I knew just what they were saying and felt comfortable interacting with them. I also gained respect from them for knowing how they presented information.
Just as important to your future is this: if you are going to rise up through the management hierarchy and eventually become a Vice President or President/CEO, you will certainly need to be able to understand and comment on the monthly financials. And when you present information to your Board of Directors, you will need to explain and answer questions on financial information. These financial statements are important.
The writer is very fast, professional and responded to the review request fast also. Thank you.
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