In today's rapidly evolving financial landscape, understanding and effectively managing your financial resources is crucial for building a secure and profitable future. This will be a predominantly hands-on workshop that will challenge participants to collaboratively build an operational and financial plan for a fictitious company with a made-up budget. The aim will be to teach attendees the skills required to use elements of CEDIA’s business toolkit.

This immersive, hands-on workshop goes beyond theory, providing participants with actionable insights and tools to make informed financial decisions. 

Areas of focus: 

• The Chart of Accounts – Specific to CEDIA Members 
• Understanding Labor Costs and Tracking Employee Productivity 
• Pricing Using Markup and Margin 
• Change Order Management 
• Creating a Breakeven Analysis 
• Creating a Financial Dashboard 

Target audience: 

• Owners/Executives of all size companies needing to hone their financial management skills 
• Self-employed individuals looking to start a business 
• Business owners with 1-10 employees looking for growth 

What to bring to this workshop:

• Your laptop computer that can run Excel 
• Your Financial Statements (you will not be required to share with other participants unless you agree) 
  • Profit and Loss for the current year and/or for last year 
  • Balance sheet 
• Your willingness to learn and ask questions 

Workshop Highlights: 

• Financial Foundations: Begin with a comprehensive overview of the key economic concepts and terminology that form the building blocks of a strong financial foundation. We will be using CEDIA’s free business toolkit for our hands-on work. 
• Data-Driven Decision Making: Explore how to gather and analyse your financial data effectively. Discover the power of data-driven decision-making and how to use financial statements to gain insights into your financial health. Understand the role of ratios and metrics in assessing your financial performance. 
• Goal Setting and Strategy: Learn how to set realistic financial goals and create a strategic roadmap to achieve them. Understand the importance of aligning your short-term actions with your long-term objectives. Develop strategies to optimize your financial resources and make informed investment choices. 
• Interactive Case Studies: Engage in interactive case studies and group activities that simulate real-life financial scenarios. Apply the concepts learned throughout the workshop to solve financial challenges, fostering a deeper understanding of practical application.