The Association always wants to help its members gain the clear understanding and sound knowledge of financial management that is necessary for any business to succeed. That is why we are so excited about the upcoming Financial Management Seminar, October 20-21, at the Lansdowne Conference Center near Washington, D.C.
Back by popular demand after a seven year hiatus, this seminar will draw heavily on responses from dozens of SC&RA member companies that participated in the 2004-05 Financial Analysis & Operating Ratio Study.
Whether your company participated in the survey or not, the seminar is designed to help registrants in the ways listed below.
A heightened understanding of their business.
By seeing financial components as perhaps never before, SC&RA members will be better positioned to capitalize on strengths, overcome weaknesses and focus on areas of opportunity. Participants will use financial statements based on industry standards. Concepts will be explained in layman's terms rather than accounting jargon. Numbers will come to life.
An enhanced comprehension of their industry.
The seminar's focus on the results and application of the Operating Ratio Study will provide new insights into the financial parameters of the unique industries operating under the SC&RA umbrella. The emphasis will be on enhancing profitability and managing growth.
A more successful banking relationship.
Because of the capital-intensive nature of SC&RA member businesses, financial institutions play an integral role in the success of the Association's members. Participants will learn how to properly structure debt, how to understand repayment sources and timing, and how to communicate more efflectively with financing sources.
By focusing on cost behavior through the use of break-even analysis, owners and managers will become better equipped to evaluate the financial impact of strategic decisions facing their companies-including capital purchases, personnel, and expansion. Such information enables them to maximize return on investment and profitability.
Improved cash flow.
Owners and managers will gain fresh insight on how to increase working capital and improve cash flow.
More successful growth and expansion.
By evaluating the cost and impact of growth, the positive and negative infiuences on past sale activity, and their sustainable growth rate, participants will be better prepared to manage and plan for growth and expansion.
The Financial Management Seminar will be presented by Mike Whitlock, president of Tannian Consulting, Inc., Redmond, Wash. His company is a recognized leader in providing financial, marketing and strategic planning services, training and consulting.
Mike has been actively involved in developing practical financial programs for business owners, managers and advisers in the United States, Canada and Australia for nearly a decade. Regardless of their level of business expertise, members of his audiences appreciate his energetic style of explaining financial management.
Mike also already has an understanding of our industry because of his previous work with SC&RA from 1995 to 1999. Before becoming a consultant, he worked as a commercial banker for nearly 10 years. He holds a Master of Business Administration degree from the University of Washington.
Seminar participants can also learn from one another. A highlight of the event is expected to be the SC&RA best practices group discussion.
Even if your company did not participate in the 2004-05 Financial Analysis & Operating Ratio Study, the seminar will provide you with extremely useful information on understanding and using financial statements as strategic decision tools, improving profitability and performance, and making the most of best practices for improving cash flow and operating efi ciencies.
For more information or registration forms, visit the SC&RA web site at www.scranet.org and click on the Event/Registration tab near the top of the page, or call SC&RA at 703-698-0291.