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2022 CFMA Annual Conference

A7 - Contractor Financial Management: Best Practices


May 18, 2022 1:00pm ‐ May 18, 2022 2:00pm


Standard: $69.00
Members: $49.00

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):

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