Navigating the Three Major Financial Statements
The underlying purpose of every company is to make money. So if you’re a manager, part of your job is to help your company earn a profit—ideally, a bigger one each year.
Of course, you may work in the nonprofit or government sector, where making money isn’t the most important goal. But you will still have to monitor the money that comes in and goes out.
Wherever you work, you can improve the financial health of your organization by reducing costs, increasing revenue, or both. You can help the organization make good investments and use its resources wisely. The best managers don’t just watch the budget—they look for the right combination of controlling costs, improving sales, and utilizing assets ...