Debits Are Toward the Window. How to Communicate with Non-IT Finance Folks About IT Finance
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The document discusses communicating financial concepts to non-finance professionals. It outlines three key financial perspectives: the stock of wealth represented on the balance sheet, the flow of wealth shown on the income statement, and decision making. It acknowledges that concepts like debits and credits, cost allocation, and project accounting can be confusing for non-finance staff. The document provides tips for understanding financial information more easily, such as keeping explanations simple, relating concepts to everyday life, and knowing when to seek help from finance colleagues.
Debits Are Toward the Window. How to Communicate with Non-IT Finance Folks About IT Finance
- 1. 11 Canal Center Plaza, Alexandria, VA 22314 T 800.663.7138 F 703.684.5189 www.robbinsgioia.com Debits AreToward the Window How to Communicate with Non-IT Finance Folks About IT Finance Sandy Sears 04/15/2015
- 2. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Three financial perspectives The stock of wealth The flow of wealth Decision-making Confusing concepts Project Accounting Scorekeeping Gifts From My Friends in Finance Agenda 2
- 3. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Buried in the Balance Sheet (the stock of wealth) 3
- 4. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Drowning in the Income Statement (the flow of wealth) 4 Wheres the window?
- 5. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Arising to Become a Decision-Maker 5
- 6. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Debits and credits Debit I spent something Credit I got paid something Allocation of expenses / cost allocation Capital budgeting Confusing Concepts (if you are not a finance geek) 6
- 7. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Cash flow Categorization Budget alignment Confusing Concepts (if you are not a finance geek) 7
- 8. Confidential and Proprietary 息2015 Robbins-Gioia, LLC The NUMBER A Mythological Creature 8
- 9. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Vendor Purchases 9
- 10. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Project Accounting 10
- 11. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Scorekeeping 11
- 12. Confidential and Proprietary 息2015 Robbins-Gioia, LLC Keep it simple very, very simple! What does this really mean? Can I relate this to my everyday life somehow? What can I change or control? What can I ignore? When am I in trouble? How can I use this information to make a decision? ALWAYS check my math! (ummm . . . arithmetic) You are from Finance, and you really are here to help! Gifts From My Friends in Finance 12
- 13. Confidential and Proprietary 息2015 Robbins-Gioia, LLC 13 Thank you!