• Financials for Managers: Cost Accounting for Teams

  • Jun 7 2022
  • Length: 3 mins
  • Podcast

Financials for Managers: Cost Accounting for Teams

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  • Summary

  • In order to be effective, managers need to be aware of their costs, assets, and profits. In this video, serial entrepreneur and Factorial Chief Revenue Office Bernat Farrero outlines the finances managers need to keep in mind:  

    - The value of their assets (inventory, stock, etc.) 

    - The value their team is bringing (revenue, new customers, bugs solved, etc.) 

    Managers measuring profits will need to their costs from the value their team is bringing.  

    But remember! ⚠️ Keeping margins low at all costs is not always the answer. You just need to be aware of the trade-offs you're making. For example, Factorial increases overhead by investing time and money in developing employees. But this will pay dividends with more effective employees and ultimately more satisfied customers.  

    Are you tracking expenses?
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