The Airline Simulation Shortly after college I found myself in a rapidly growing service organization on the fast track to management. Being in the professional world was a phenomenal new experience, so I was eager to soak up as much knowledge and experience as I possibly could. After a year or so, I had all the confidence in the world and...
Managing the strategic financial direction of an organization is at the heart of the CFO role. CFOs are charged with making informed decisions regarding how to distribute an organization's assets in order to maximize value to customers and, therefore, generate profit. To that end, it is critical that CFOs stay informed about new and emerging business principles and management systems across all...
Revenue – expenses = net income. It doesn’t take a math whiz to understand that reducing expenses increases net income, at least in the short term. But cutting the wrong expenses can have disastrous effects on long-term results. Either formally or informally, every decision to incur an expense is the result of a cost-benefit analysis. Each time you are presented...
The first known payment by paper check occurred in the early eleventh century when an Iranian traveler visited the city of Basra and gave a merchant written instruction ordering his bank to make a payment from his account. While the U.S. economy continues to rely on checks as a form of payment , that reliance is steadily decreasing year after...