Manage WITH Metrics, Not TO Metrics
Recorded On: 10/09/2014
Club financial statements often contain voluminous amounts of information that can bury the readers in detailed data. Frequently this leads to “paralysis by analysis,” or worse, can cause management and boards to waste time focusing on historical data that does not explain how the operation fundamentally performed or how it can be changed.
This presentation will discuss how to focus on the key drivers of your club's financial performance. It will discuss the linkages that you must have between your financial budget and your strategic operating plan and will review a selection of the key data points that clubs must capture, report and explain if they are to succeed and deliver on their mission and vision statements.
Participants will also receive a copy of McGladrey's recently released 2014/15 Trends In Private Clubs.
Philip G. Newman
Partner, Private Club Services, McGladrey LLP
Philip G. Newman, CPA, CIA has 20 years experience in public accounting, predominantly serving the private club industry. In his role as National Director of Club Consulting with McGladrey LLP, Newman is responsible for projects throughout the United States, including internal control and governance reviews, operational consulting, benchmarking studies, strategic planning and the development and delivery of education products and tools for Club Boards, CEOs and CFOs. He has served on the Global Board of Hospitality Financial and Technology Professionals (HFTP) and is a frequent speaker at regional and national conferences for HFTP, the Club Manager's Association of America (CMAA) and the National Club Association (NCA).