Sales and earnings are not enough to survive, just ask W.T Grant who had consistent earnings growth, yet went bankrupt. Ask Bernie Madoff, whose Ponzi scheme would have gone on had it not been for the lack of new cash inflows. In fact the number two cause of business failures is not knowing the difference between earnings and cash! Additionally, understanding the value of time in the cash equation is critical to business survival.
This session will help you better understand the differences between cash and earnings as well as provide some suggestions as how to maximize cash.
SCORE mentor and retired as Chief Financial Officer from Axalta Coating Systems, (formerly DuPont Automotive Finishes), was the founder and CEO of Tech Services International, a limited liability corporation in Kennett Square, Pennsylvania. As part of his strong commitment to education, Tom taught Accounting and Financial Management Theory and Practice to undergraduate and graduate students at Pace University in New York, University of Arkansas, Delaware State University, Virginia Commonwealth University and continues to teach today at West Chester University in West Chester, Pennsylvania. Tom is a Certified Public Accountant (CPA) as well as a Certified Forensic Accountant.