Secrets of Managing Budgets: What IT Managers Need to Know in Order to Understand How Their Company Uses Money

Download Secrets of Managing Budgets: What IT Managers Need to Know in Order to Understand How Their Company Uses Money AudioBook Free

An IT manager's budget control buttons what he or she and his or her team will be able to make this happen year. No, developing a budget might not exactly be the most exciting thing that you will be called to do, but it just might be the most important. The challenge that the majority of IT professionals have when it comes to creating a good budget is that it requires them to understand a number of terms and principles that they could have never came across in university. What you will discover inside:

  • Why IT professionals need to value financial assertions
  • An IT manager's new best friend: the business balance sheet
  • ROI: what it is and just why IT managers need to know how to utilize it
  • Three financial terms that IT professionals need to know
The very good news is that you will be not the first IT director to make a budget. There is a good deal to learn from the tips that other professionals can provide you with. A good guide for how you should create your budget may be provided from your company's financial assertions. In order to understand the company's financial situation, you'll need to master the company's balance sheet. Also, you need to understand the company's assets and its own liabilities. The way the company works its day-to-day businesses is closely tied to its use of working capital, and so you'll need to know this also. The company will be funding new IT jobs using financial leverage, and that means you need to comprehend how this financial tool works. The position of the business is closely observed by outsiders, and to keep your team informed, you are going to have to understand how to read an income assertion and a cash flow statement. Your enterprise will be investing in your IT team, plus they expect it to return a profit. Which means that you need to understand terms like ROI, net present value, and interior rate of return in order to comprehend how your performance is likely to be measured.


Category: Information Management

Details

Publisher

Blue Elephant Consulting
Language

English
ISBN

DATE

2015-10
Author

Jim Anderson

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