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Tools To Grow Your Bottom Line |
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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 |
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