Loot is a financial technology company that is creating a banking experience that shows what you can do, when you can do it and how much it will cost you.
We delivered a workshop on financial statements and working effectively with the finance to a group of aspiring future company leaders. The group included team leaders from various departments such as design, marketing and human resources.
The aim of the session was to provide team leaders with key financial insights to help them make the most of their relationship with the finance team.
The session involved: explaining the fundamentals of profit and loss accounts and balance sheets; its uses; as well as providing quick methodologies for dissecting financial statements in order to build a story on the future direction of the company being analysed.
We explained the rationale behind why finances drive the whole operation of a business, giving attendees (many having no prior knowledge of accounting or finance) an appreciation for the financial performance and position of a company to its ongoing survival and employment of its staff.
Laolu also fielded questions on preparing departmental budgets, and how best to coordinate the activities of a department with the finance team.
The session was well received, with Economic Street receiving positive feedback. You can watch the testimonial here.