4. BUSINESS & FINANCE FOR AVIATION TECHNICAL PERSONNEL
SEMINAR HIGHLIGHTS...
For an aviation engineer or technician the world of business and finance can appear confusing if not counterproductive at times to operations. The seminar "BUSINESS AND FINANCE TECHNICAL PERSONNEL" is dedicated to take the mystery, frustration and misunderstanding operations personnel have regarding business and finance. The seminar is presented in everyday language that avoids terms like debt, credit, pro forma, etc... etc... etc. Attendees receive a comprehensive yet comprehendible overview of the tough and necessary job of the other half of the company... the world of business and finance. This seminar is "required reading" for any technical type entering the ranks of supervision and management as well as anyone aspiring to advance in their company.
WHO SHOULD ATTEND ?
- TECHNICAL PERSONS THAT INTERFACE WITH BUSINESS PERSONNEL
- AVIATION ENGINEERS
- AVIATION MANUFACTURING PERSONNEL
- PROJECT MANAGEMENT PERSONNEL
- BIDS & PROPOSAL PERSONNEL
- ANYONE NEEDING TO UNDERSTAND THE FINANCE SIDE OF A BUSINESS
ATTENDEE COMMENTS...
"You made a boring subject interesting."
"I now have a different perspective about my own budgeting and forecasting."
"I feel much more comfortable about talking issues with accounting."
"What I learned today will come in handy when I support bids and proposals."
SEMINAR DETAILS
DEBITS & CREDITS ANYONE?...Rest easy...We do not talk about these Things!
SOLE PROPRIETORSHIPS & PARTNERSHIPSThe forerunners of corporations were proprietorships and partnerships. We examine their pro's and con's.
CONCEPT OF THE CORPORATIONThe days of Thomas Edison inventions are in the past. Today most accomplishments are done through corporations. We will learn that a corporation is a powerful legal entity.
PRESIDENTS, CEOs & THE BOARDWhy does everyone want to keep The Board happy and what is their job anyway?î There are good reasons and we learn what their job is.
STOCK, STOCK HOLDERS AND WALL STREETWith so many stockholders owning the corporation, who is really steering the ship anyway! We learn how the course of a corporation is set. DEBT VERSUS EQUITYThe word "versus" makes it sound like a football game between Team Debt and Team Equity. Well...it is kind of like a football game where we watch the score very closely and we will learn why.
VENTURE CAPITAL"Venture" sounds like an action packed "adventure" and sometimes it is. We examine how venture capital funds many projects and new corporations.
DIVIDENDS VERSUS RETAINED EARNINGSIf we are fortunate enough to make a profit in our corporation, why don't we take all the profit as dividends and have a big party! Well if we did that our company would never grow. We learn why we must share. CAPITAL EXPENDITURESThis is not a facelift for the capital building but a way of buying new facilities and equipmentÖ and it is usually treated differently in budgeting and at the end of the year.
BALANCE SHEETS & INCOME STATEMENTSAn income statement seems to make sense... but what in the heck is a balance sheet! We will learn how to look at these and determine many things about a corporation.
GENERAL LEDGERS (& CHARGE NUMBERSGeneral Electric...General Washington...and General Ledgers... The accountants always refer to "him" with great respect and we will learn why. HOW FINANCE DEPARTMENTS ARE STRUCTURED"All those finance guys are just accounts...right?"... Wrong! We need to understand the difference and the responsibilities of treasurers, controllers, CFOs, etc. DIRECT VERSUS INDIRECT PERSONNELI have always appreciated persons with direct personalities. But now you say a direct personality caN be an indirect person at work! You are trying to trick me!... We will learn the specific differences. EXEMPT & NON-EXEMPT PERSONNE"Whatever exempt people have...non-exempt people must not have." We will learn what the law has to say about that and how it affects you. BURDEN RATES, OVERHEAD & G&A (GENERAL & ADMINISTRATIVE)"I am a young engineer earning $25 per hour and the company is billing me out at $80 per hour. The company is getting rich on me!" Wrong! We will learn what is in overhead and where that other $55 went. WORKMAN'S COMP, SUTA, FUTA, FICA, FWH, SWHIt costs a lot of money to have employeesÖ more than just what you pay them. We will find out what all those letters above mean. BUDGETS, FORECASTS & CASHFLOWSThere is a endless supply of money to fund our wonderful engineering projectÖ right?î Wrong! The name of the game is cashflow and we learn how budgets play a big part. TERMS & CONDITIONS ON CONTRACTSTerms and Conditions are in the fine print on the back of the contract that test our eyesight. We learn the important Ts & Cs for when we are the buyer versus when we are the seller. COST, PRICE & TYPES OF PROFITWe are not splitting hairs when we want to use the correct word in the correct context. DEPRECIATION"If a company buys a car and depreciates it over 5 years... that means it's really free... right?"... Wrong! We learn how depreciation is handled at the end of the year. BUSINESS PLANSPlans sound like architect's blueprints... and in a way a business plan is just that. We learn what "things" are in a basic business plan.
