Being able to charge things to your job is a wonderful rite of passage. The concept of an expense account is all but dead—learn how to responsibly manage your own expenses to contribute to the bottom line.
- When I started my working life in the marketing world,…I quickly learned that keeping a client happy…was of primary importance.…But keeping a client happy…isn't just about the quality of the work.…It's also about keeping the humans…that work for that company happy too.…And sometimes paying for dinners…or tickets to sporting events can go a long way.…Expense accounts have long been used…as a way to manage client relationships,…but the freewheeling credit card flashing sales guy…that you see in the movies,…he's a bit of an exaggeration.…
Economic downturns and corporate belt tightening…have washed away the days of unchecked expense accounts.…Now the focus is on expense management,…where employees may need to seek approval…in advance for bigger expenses…and smaller costs are put onto personal credit cards…and then claimed after the fact.…What's the net effect of this for the business?…Well, it means that hard-won revenue…isn't slipping out the back door…through unproductive spending.…And the key word here is unproductive.…
- Explain how understanding your company’s finances will help you as an employee.
- Identify how you can help drive revenue if you do not work in sales.
- List the key things to look for when setting terms with suppliers.
- State why it is important to understand key accounting concepts and success measures.
- Explain what an income statement can tell you.