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3 Things to Know About Financial Analysis if You’re Considering Payroll Training

2018-04-25 by Mark Harrington

accounting and payroll diploma

Money isn’t the only way to measure the success of a particular business, but it has to be towards the top of the priority list. Making a profit is essential in most sectors, to allow employees to get paid and to generate a healthy return for investors. It’s also important to recognize what pitfalls or opportunities may be lying ahead in the future, and to carry out a thorough financial analysis of the business to prepare as best as possible.

Financial analysis is used to assess whether a business or project is profitable enough to encourage investment. Accounting and payroll administrators may sometimes assist in this research, and it can be an excellent way of gathering a deeper understanding of the business and the industry in which you’re working. The duty requires a good knowledge of financial documents, and it’s also important to relay the findings in a clear way with useful comparisons. Here are some important points to consider with regards to financial analysis.

What Documents Are Used in Financial Analysis?

Graduates of an accounting college know there are three files that are essential when carrying out this task. The first of these files is the balance sheet. This document includes the financial and physical resources that a business has available for the future. It doesn’t, however, mention if these resources are being well utilized, so it’s a good way to measure current financial performance rather than future growth.

The second document, the income statement, offers information about performance over a particular time period. It includes information on revenue, expenses, and profits/loss, and is a better indicator of future viability.

The other essential document is the cash flow statement. This is similar to the income statement, as it records performance over a period of time. It doesn’t include items such as depreciation, so it is seen as a more streamlined way of measuring a company’s ability to pay bills, creditors, and much more.

Analyzing Revenue After Receiving an Accounting and Payroll Diploma

The overall revenue coming into a company can be an easy way to spot financial performance, but it’s vital to look more deeply at the income streams. Professionals with an accounting and payroll diploma know revenue growth should not include one-off sources of income, which can distort findings.

Revenue concentration assesses whether a company is over-reliant on one or multiple clients. If those clients pull their business, it could leave the company in a dangerous position. Revenue per employee is another common ratio used. This measures revenue compared to employee numbers, and the highest possible ratio is preferred.

The Comparisons to Use During Financial Analysis

A straightforward way of judging financial performance is to compare current results to the company’s findings in previous years. Looking back at the previous three years is usually seen as enough, but older data should also be analyzed if available.

payroll training

Previous financial analysis results are a key point of comparison

Benchmarking is also necessary to compare the company’s performance to direct competitors. Profit levels may be much higher at other businesses, which could highlight opportunities which haven’t yet been seized.

Are you interested in taking on a career in payroll accounting?

Find out more about how payroll training at the National Academy of Health & Business can give your career a kick-start.

3 Ways Our Accounting College Helps You Land Your Dream Job After Graduation

2016-06-29 by Mark Harrington

NAHB’s accounting and payroll program gives you the skills and tools that will put you on track for a rewarding career

Careers in accounting offer both job stability and good pay, and are an excellent fit for students with an eye for detail. If you enjoy math, like using new software, and are looking for a rewarding career, then the right payroll training program could help you start your dream job sooner than you think. In fact, focused programs like the one offered at the National Academy of Health and Business (NAHB) are just 44 weeks long. That means that in just nine months, you could be graduating with your diploma and well on your way to a bright new career.

Taking advantage of the lucrative job market in accounting and landing a job after your training is made easy with the resources and support provided by NAHB. Continue reading to discover how our accounting college can help you launch an amazing career after graduation.

1. Accounting and Payroll Diploma Holders Get Guaranteed Co-Op Job Placement

When studying towards your accounting and payroll diploma, you will have a chance to put all the theory you’ve learned to use with a co-op job placement. Cooperative education allows you to take the knowledge you’ve gained in the classroom and use it in the real world, gaining important experience and confidence in the process. A co-op job placement is the opportunity to push yourself—and at NAHB, every single student in accounting and payroll is guaranteed a co-op job placement.

A co-op job placement is a great way to kick-start your career!

A co-op job placement is a great way to kick-start your career!

2. Accounting Training Prepares Students to Use Important Software Programs

ACCPAC is the accounting software of choice for many of the largest accounting firms in the world. It’s one of the top software programs that students need to know, and NAHB provides comprehensive, hands-on training so that students feel confident using it. With the help of our expert instructors, you’ll learn useful shortcuts and how this program can keep the books balanced. Not only that, but the ACCPAC training comes with a Recognition of Achievement that will greatly assist in finding employment after graduation.

3. Accounting and Payroll Diploma Grads Get Job Search Support

The skills you’ll gain through your accounting training at NAHB will make finding prospective employment an enjoyable and seamless experience after graduation. On top of that, our college makes your transition into the workforce all-the-easier with the help of our resume and cover letter development assistance, interview preparation assistance, and networking advice. Plus, NAHB can refer you to external career resources after graduation, helping you make a smooth transition into your career in accounting.

The sky is the limit with proper accounting training

The sky is the limit with proper accounting training

Attending an accounting college is a wise decision right now because of the hot job market, as well as due to the plethora of services and career development assistance skills provided in accounting training—a rewarding career may be just around the corner.

Ready to begin education that really adds up?

Contact an advisor today to find out more about our accounting college.


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