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Financial Self-evaluation
This is a confidential, self-scoring evaluation. Use the following scale to help you determine how you can improve your skills.
5=Always
4=Often
3=Usually
2=Sometimes
1=Seldom
Answer the Following Questions:
5
4
3
2
1
I know how to use the balance sheet to identify sources of cash when I need it.
I can explain the difference between cash flow and profits.
I know when someone is being honest in their presentation of the numbers.
I evaluate the financial impact of my decisions in advance.
Others look to me for guidance on financial matters.
When making operating decisions, I weigh the impact of my decisions on profit, cash flow and future financing capability.
I understand the financial impact of quality improvement initiatives.
I look at "expenses" as investments that should produce a return.
I use ratio analysis to help me focus my operating decisions.
I use financial ratios to set targets for my company's (team's) performance.
I make it possible for operating managers to change their minds about how they spend their budget dollars.
I refuse to use "across the board" cuts when establishing a budget.
Total Points:

What Your Score Means:
50-60 points
You have a thorough understanding of finance and how to apply it to operating decisions.
 
40-49 points
Your understanding of finance is laudable; continue to involve your finance people in the review of your financial statements and ratios to further enhance your knowledge; keep asking them questions until their answers make sense to you; use them to help you formulate your plans for the future.
 
30-39 points
You have some understanding of finance; you should probably take a managerial finance course to increase your understanding of finance; once you gain that knowledge, employ the suggestions for the 40 to 49 point group.
 
20-29 points
You're flying blind financially; ultimately this will restrict your career growth; take a managerial finance course so that you can become more valuable to yourself and your employer.

Every decision has a financial impact. Chapter 9 of The Uniqueness Myth offers a succinct explanation of how to use the numbers to anticipate that impact. The FINANCIAL IMPACT seminar gives you a chance to practice the concepts described in The Uniqueness Myth.
   

Financial Impact Seminar

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Copyright © 2006, Dale Furtwengler. All rights reserved.