Govology Webinar: Presenting Accounting Information to Non-Accountants

1. Presenting Accounting Information to Non-Accountants

2. We Know Government Contract Accounting

3. Who we are Left Brain Professionals is a boutique accounting firm that serves government contractors. We specialize in accounting system design & implementation, audit support, training, and cybersecurity compliance.

4. Our Services ACCOUNTING • Accounting Systems • Monthly Support Services • CFO & Controller Services • Software AUDIT SUPPORT • DCAA Audit Support • DCMA Audit Support CYBERSECURITY • CMMC Compliance TRAINING/TOOLS • GovCon Training • FCCM Calculator • Indirect Rate Calculator • Proposal Adequacy Checklist

5. Our Team Robert E. Jones Government Contracts & Accounting Expert CPA, CPCM, NCMA Fellow Melissa Metzger Government Accounting & Finance Advisor MAFM, CPA Candidate Steven Bressler Government Contract Associate steve@LeftBrainPro.com melissa@LeftBrainPro.com robert@LeftBrainPro.com

6. Learning Objectives • List the non-accountants and info they need. • Define terms and acronyms. • Explain the data presented, why it’s important, and impacts affecting the data. • Adjust the volume and format of data to fit the audience. • Other tips and tricks.

7. Poll How comfortable are you presenting accounting information to non-accountants? A. I avoid it at all costs. B. Not comfortable at all, but I have to. C. Fairly comfortable. D. Very comfortable, no hesitation.

8. Non-Accountants and Needed Information

9. Non-Accountants & Needed Info. Cont… Tailor the data and presentation. What are people responsible for and what do they care about?

10. Non-Accountants & Needed Info., Continued… Cont… Owners Overall Performance • How well is the business doing? • How are the parts of the business doing? Profitability • Top-level and by division or product. May understand some of the advanced terms and KPIs, but may not have time to digest a lot of written information. Comprehensive dashboard with several KPIs. Give them a snapshot with backup they can read later.

11. Non-Accountants & Needed Info., Continued… Cont… Board of Directors • Performance • Compliance – are accounting P&P compliant with GAAP, FAR, CAS, or other guidelines? Cont…

12. Non-Accountants & Needed Info., Continued… Cont… Managers • Front line performance – how is my department performing? • How is my contract or project performing? • How are the parts of the business doing? • Dashboard with info and KPIs limited to their operational scope. • Actual OH rate to budgeted rate. • Employee hours and efficiency. • Product or project profitability.

13. Poll Owners of a business may not have a lot of time to digest_____. A. KPIs B. Dashboards C. Written information D. None of the above

14. Non-Accountants & Needed Info., Continued… Cont… General Staff • Are we making money? • Will I have a job? • Will you cut benefits? • Will I get a bonus? • Top-line revenue actual vs budget • Unit sales vs budget Cont…

15. Non-Accountants & Needed Info., Continued… Cont… Customers • Community Impact • Charitable Contributions • Environmental Goals • Reducing carbon footprint Vendors • Unit sales can signal vendors to speed up or slow down.

16. Non-Accountants & Needed Info., Continued… Select Data to Share • Share data that is relevant to the person or group. • Share data for which that person or group is responsible. • Suggest action items or next steps.

17. Poll Community impact and charitable contributions are typically shared with? A. General staff B. Customers C. Vendors D. Managers

18. Explain the Data

19. Explain the Data Cont… • Tell a story. Focus on the message, not the data. • Why are you presenting these particular numbers? • What do the numbers mean? • What are the inputs or how do we affect the results? • Use charts, sparklines, colors, and other visual indicators. • Use less jargon. Explain words, phrases and acronyms.

20. Explain the Data, Continued… Presenting the Data. • Use charts, graphs and diagrams. • Use words over numbers. • Use color coding.

21. Explain the Data, Continued… Cont…

23. Poll When explaining data, you should use less _________. A. Jargon B. Charts C. Numbers D. None of the above

27. Explain the Data, Continued…

28. Poll When presenting the data, use_________. A. Charts B. Graphs C. Diagrams D. All the above

29. Other Tips & Tricks

30. Other Tips & Tricks Cont… Practice your presentation. • Practice, practice, practice. • Practice in front of a mirror. • Practice with a friend or colleague. • Test your equipment in advance. • Perform a dry run. • Arrive early. Be comfortable in the spotlight. • Join toastmasters

31. Other Tips & Tricks, Continued… Cont… Less is more. • Limit information on slides and reports. • Present summary info over details. • Focus on the key info. • Don’t get lost in the weeds.

32. Other Tips & Tricks, Continued… Cont… Be prepared for tough questions. • What is that number? What does it mean? • Why did it change this month? • Why should I care about this? • How long have you known about this? • Why are you just now telling me?

33. Other Tips & Tricks, Continued… Timely presentation of data. • Data must be timely to be meaningful and actionable. • Don’t tell a project manager they overspent their budget three weeks ago. • Deliver real-time data. Cont…

34. Poll Data must be ______ to be meaningful and actionable. A. Accurate B. Timely C. Limited D. None of the above

35. Other Tips & Tricks, Continued… Cont… Be a strategic partner. • Accountants are accused of always looking back. • We need to do more than report on history. We need to look forward. Interpret the data. Offer predictions and guidance.

36. Other Tips & Tricks, Continued… Make the data available. • Use online, real-time dashboards. • Allow drill-down/click-through to the details.

37. Poll How confident are you in presenting accounting information given this presentation? A. I can’t do it. B. I’m still a little timid, but can manage. C. I think I would do okay. D. I’m pretty confident.

38. Save the Date! July 20-22, 2021 Join us for up to three days of educational sessions and earn up to 20 CPE credits during our first annual GovCon Accounting Summit, a virtual learning experience for government contract accounting professionals. Learn from industry leading accountants, attorneys, and consultants on a variety of government contract accounting topics and see some of the latest software tools in action during live demonstrations. Visit www.GovConAcct.com for details.

39. Connect with us Download the presentation Left Brain Professionals Inc. @LeftBrainPro Email us Support@LeftBrainPro.com @LeftBrainPro Left Brain Pro LeftBrainPro www.LeftBrainPro.com/presentations

40. For information on our upcoming webinars, visit us at LeftBrainPro.com/events for more details.

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