Many contractors struggle with understanding their financial statements. Questions often arise around “How do I know if I am making money?” or “What departments are making money and which ones are not?” This course will help TMs understand the basics of what their dealers need to know in terms of how to have accurate financial statements and what they are telling them.
We will discuss the importance of departmentalization and the role that overhead plays in the contracting business. TMs will walk away with an understanding of how to coach dealers in setting up the proper chart of accounts and allocating overhead so that they can manage their business through key performance indicators (KPls). Understanding of the financial structure and KPls will give TMs insight on how to help their dealers understand which departments are performing or underperforming as well as providing the solutions to help them operationally to maximize profitability by department.
Key Points Covered:
Take-Aways:
This course is designed to help take away the mystery and fear of what goes on with a contractor’s financial statements. The class is also designed to help the TMs have conversations with their dealers around profitability and to do it with confidence. All financial statements and budgeting tools will be covered for the TMs to use on the Contractor University website. TMs will also receive a copy of the presentation and supporting documents for this class.