Nearly 30 owners, managers, and accounting personnel from throughout the Foundation Supportworks dealer network participated in accounting training in Omaha, Nebraska on December 6th and 7th. The training covered many different topics during the two day event, including how to effectively analyze financial statements, measure key performance indicators such as inventory turns and days in accounts receivable, employ successful inventory control methods, implement processes for receiving and stocking products and materials properly, and apply strategies for collecting money due.
In addition to classroom discussions, those in attendance observed a presentation by the Vice President of American National Bank, who spoke on the importance of having a strong relationship with your local banking institute. The presentation focused on banking issues that are relevant to foundation stabilization companies, including revolving lines of credit and regulatory requirements.
The training included many hands-on activities to provide real-world applications for the attendees, as well as a panel discussion where participants had the opportunity to “ask the experts” questions related to the accounting side of their business.