Taking a crash course in accounting will help any sales professional understand financial rejections better, and help their clients predict ROI.
Sales professionals need to have an understanding of the basics of finance and accounting in order to better deal with their clients, owners, and providers of products and services. Quickly understanding EBITDA, ROI, cash flow and other financial items and terms can help sales professionals better relate to their clients and owners, finance and accounting personnel for the client, as well as internally in their own companies. This topic provides a general overview of the financial and accounting elements that are needed to close deals quicker upon understanding clients' finances.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Basics of Financial Management
- What Does the Client's Financial Picture Look Like?
- The Purposes of Financial Management and Financial Statements
- Managing Financial Risk in Business
Understanding Financial Statements
- The Balance Sheet
- Assets That Appear on a Balance Sheet
- Liabilities (Debts) Reported on a Balance Sheet
- Income and Cash Flow Statements
- What Is a Revenue or Expense?
- Calculating Gross Profit on an Income Statement
- Managing and Optimizing Cash Flows
- Basic Financial Ratios
- Calculating EBITDA, Return on Equity, Return on Sales, and Gross Margin
Basics of Budgeting and Planning
- Budgeting Process and Components in Business
- Why Is This Important to the Sales Professional?
How Will This Knowledge Help Me?
- Pricing Products to Suit the Client
- Cash Management Strategies
- Techniques for Prompt Cash Collection
Capital Budgeting
- Understanding the Client's Capital Budget Components
- Employing the Payback Period Method to Evaluate an Investment Opportunity
- Capital Budgeting Using Time-Value-Of-Money
- Is Investment Acceptable, Based on Internal Rate of Return (IRR)?
Investment - Debt and Equity
- Cash Flows Before, During and After Investments
- When to Cut Losses or Pass on an Opportunity
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 26, 2016.
Call 1-866-352-9540 for further credit information.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Tim Murphy
C-Level Restaurant Consulting
- Consulted or worked in senior level capacities as CEO, COO & CFO with restaurant, hospitality and retail brands for public Fortune 500, private companies and start-up companies
- An international keynote speaker, best-selling author, serves nonprofit boards, has an M.B.A in finance and a commercial real estate broker license in the State of Florida
- Focuses on two related companies, C-Level Restaurant Consulting (www.CLevelRestaurantConsulting.com), and FRESH&fit! To Go (www.FRESHnfit2Go.com)
- Spent his career sampling food, gained weight, and 10 years ago decided to eat better, lose 50 lbs. and ran 16 marathons inspiring him to provide better nutritious, wholesome restaurant quality meals & meal plans that are affordable and taste great for medical, athletic, health & wellness individuals seeking healthier lifestyles
- C-Level Restaurant Consulting specializes in strategic solutions to deliver freedom and focus to business owners
- Uses C-Level best practices from 50+ brands with 8,500+ units and outlets during the last 30 years to ensure success to achieve scalability, sales growth and recovery of time for owners by knowing what to focus on and get results
- Client organizations include: restaurants, retail, resorts, hospitality, sales, spas, sports, services, construction and real estate
- Can be contacted 407-463-0834 or [email protected]
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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