On a work level, companies need to be mindful of their budget and not exceeding it. There are lots of checks and balances for businesses to help maintain a budget, but so much boils down to the management knowledge of how to spend money responsibly, income, budgeting, and reading reports. I think upper management needs to have a focus on training managers to read the reports. I had never seen a trial balance or income statement before, but can see how they would be beneficial as a Front End Manager. I remember times when I would be told to cut hours, or not order as many supplies, and it did not make sense. However, if someone would have been able to show me something on paper to help explain the why behind it, there would have been more buy in and understanding on my end?

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Additionally having a clear understanding of the companys financial goals and objectives is cruc... View the full answer