Episode 73: Why Numbers are Sexy in 2019, with Glenna Cole
Glenna Cole is a hands-on financial guru whose understanding of solid growth structures is rooted in her Alberta farm upbringing. For the past decade, she served as CFO of a private enterprise where she helped build, optimize and sell multi-million-dollar companies (in Canada and the US) within the Oil and Gas, Construction, Waste & Recycling and Agricultural service sectors.
Glenna’s natural ability to bridge the gap between field operations and management is enhanced by her education and experience in:
Process Optimization
Operational and Managerial Financial Reporting
Oil & Gas Accounting
Public Accounting
What you’ll learn about in this episode:
- Why your business numbers can be “sexy”, but only if you’re looking at them and understand them
- Why bookkeepers often focus solely on numbers with the intent of filing taxes, and why they aren’t looking at operations numbers
- What Glenna looks at in the monthly balance sheet to help business owners understand their expenses and profit centers
- Why you don’t have to be an accounting expert to identify problems before they become major issues
- What important steps Glenna recommends business owners implement to help track their numbers more effectively
- Why consistency and proper timing are the keys to accurate Key Performance Indicators (KPIs)
- Why you can’t record revenue until you actually earn it, which is why accruals and deferrals are crucial tracking tools
- Glenna explains the difference between cash flow and profit & loss (P&L), and why they shouldn’t be confused with each other
- What one piece of advice Glenna would give to business owners who are confused by their financial statements
- What upcoming topics will be appearing on MYM Your Business: The Brutal Truth with Colin Sprake in early 2019
How to contact Glenna Cole:
- Telephone: (587) 582-1010