A7 - Contractor Financial Management: Best Practices

Description

This session will also be available for On-Demand CPE credit on August 15.

Accounting departments are often considered to be a “cost center” or “overhead.” What if they were instead thought of as “value-added” or even a “profit center?" Effective budgeting, projections, and cash management are the keys. This presentation covers the accounting cycle, from a budget to monthly statements to updated projections, with a focus on the balance sheet — particularly cash — and includes lessons learned from dozens of contractors regarding things that can go right and wrong. 

Learning Objectives:

• Explain the difference between budgets, projections, the income statement, balance sheet, and cash forecasts and why they are important
• Identify techniques to maximize cash flow and profit for your company or clients
• Identify financial ratios that can help management assess the financial health of the organization

Speaker(s):

• Rebekah Kuller, CPA, CCIFP, CFO, Nielsen Builders, Inc.
• Hank Vincent, CPA, CCIFP, CFO, Sloan Security Group, Inc.