This module is an introduction to the course "Income Secrets Revealed", a companion course and precursor to the comprehensive "Understand, Predict, and Make More Money" 

Time is Precious

Working hard IN a business, time to work ON it, to improve it, is hard to come by. When you find time, having to decipher meaning from rows and columns of data, in tiny text on spreadsheets can lead to mistakes in interpretation, making things worse.

The module will provide valuable insights for managers into the most important financial reports as they are defined by the Generally Accepted Accounting Principles, and their limitations when trying to use them for operating, rather than accounting.

Common Errors to Avoid

It will introduce the most common errors to avoid, and why, and how to use the data generated for the income statement to create a tool for the ongoing process of managing. It introduces the concepts of visual reporting, as a way to see results in the flow of time, and tell the difference between the natural variation in results built into the process, and out of the ordinary ones that must be found and dealt with immediately.

Demystifying with humor the Profit and Loss Statement and Balance Sheet (if accounting can be humorous), a short primer on the basics of two of the three main reports in GAAP, or Generally Accepted Accounting Principles. Written for non-accountants who have to run things, and want to bone up on the subject, or those who have used it for years, perhaps, secretly, wondering why...

Flat Two Dimensional Tables of Data Provide No Context

Why the common reports like the P&L do not provide context, are hard to connect with what really happened, or in other words, how can you know without enough context. All data, to be transformed into information, must be presented in context. Tables of data in spreadsheets are two dimensional, with little to no context. There is a better way.

Tragicomic Flaws that Can Put You Out of Business

Averages and Percentages, the primary measures of comparison, are relied on when looking at financial reports. We look at the report, find the percentage that seems the most out of line, or most remarkable, then look at the average and compare it to the actual and we are headed down a road of pain. Comparisons are not real things. This clearly shows why they are dangerous, when they can and when they can be used, and how relying on real data tracked in time, as opposed to calculations, always leads to better understanding, and better action.

Limited Comparisons and Single Datapoints

How single datapoints, or just a few in a table do not provide enough context to make good, actionable decisions and can easily lead you astray.

Who Really is the Greatest?

The answer will surprise you. This module uses the game of baseball to clearly demonstrate the advantages of visual reports in trying to understand the meaning trapped in reports, in context, to allow clear, rapid verifiable and actionable understanding. And it is fun!

How to leave backwards looking reports behind and turn your eyes to the present and future, so you can observe, analyze, predict, and manage better.