Why is this Subject Important to Us? Before
we jump into the details of the financial reporting world, let’s pause for a
second to think about why financial reporting would be an important subject for
us, as marketers, to understand.
Companies use these types of
financial statements to show their owners and shareholders how well the company
is being managed. These are primary
print and online communication vehicles to ensure the regulators (most
importantly for the SEC documents), shareholders and analysts understand the
performance of the company
Secondly, by understanding the
performance of your company/client’s company you are better prepared to
participate in meaningful business generation discussions. Using this approach, it is not uncommon to
actually know more about partner’s financial performance that they do! As you can imagine, this takes tact and
discretion in applying to avoid alienating your client.
This ability to discuss the
financial performance of a company aids in your getting a “seat at the
table.” By demonstrating either
internally to your leadership, or externally to your client base, that you have
a solid foundational understand of the basic of the language of finance, you
will become a welcome invitee and participant at the management table.
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