BQE CORE + CVG PRESENT
Financial Management Basics for Architects
Thursday, October 31st, 2024
2pm ET | 11am PT
Financial management is an integral part of running an architecture firm. In fact, having a system in place to manage your finances has a direct impact on your firm’s cash flow and profitability. In this webinar, our experts will help you understand the basics of planning and managing your finances and how this can make a significant impact on your firm's bottom line.
By the end of this session, you will learn how to:
1
Explain your financial statements, chart of accounts, and the difference between cash and accrual accounting.
2
Calculate (and improve) your firm's Key Performance Indicators (KPIs)
3
Create an annual profit plan with net operating revenue goals
4
Improve your revenue forecasting by understanding your firm's backlog, suspects, and prospects
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Did you know that you can receive one LU for this course?
Sun Joo Kim
Senior Management Consultant, CVG
LEARN FROM AN EXPERT
Sun brings over twenty years of experience in architectural practice to her Senior Management Consultant role at CVG, where she focuses on helping firm owners improve financial and operational aspects of their businesses. With a passion for developing teams, Sun Joo supports clear communication and building trust. She has led teams and studios in both private and public realms including the Smithsonian Institution, Venturi, Scott Brown and Associates, and the State of Oregon’s Department of Environmental Quality. Her most recent civic engagement is directing a pro bono project for a women's and children's day shelter in Portland, Oregon.
As a published author and contributor to books, magazines, and news blogs, Sun Joo is adept at communicating complex ideas and goals to diverse groups. She enjoys facilitating conversations to reach shared understanding and is often invited as a moderator and speaker for workplace and diversity, equity, and inclusion issues.
An active advocate for diversity, equity, and inclusion, Sun Joo co-founded Diversity in Design, a professional resource group for designers of color. She has led and championed DEI committees and task forces for organizations such as the Urban Land Institute and the CREW Network. Sun Joo holds a Bachelor of Architecture with an Additional Major in Social History from Carnegie Mellon University. She is based in Portland, Oregon.
ABOUT THE SERIES
In this three-part series, we will explore strategies for business planning and effective management within an environment of unpredictability, including case studies, illustrating best practices. Leading a design firm offers a variety of unique challenges and opportunities. An unpredictable business environment and quickening pace of change requires firm owners to adapt, but how can firm owners proactively prepare for growth in uncertain times?
We'll begin by addressing why planning is critical to the success of your small architecture firm; specifically covering basic business plan components, where to begin, and the importance of connecting purpose, finance, marketing, and operations.
The planning overview will be followed by deeper dives into consistent action planning for marketing, business development, finance, and operations. All planning and management elements covered will focus on creating actionable steps for architecture firm leaders, so that your business plan can be used to guide long and short-term strategy and implementation. Register for additional sessions in this series here.
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ABOUT BQE: A PROUD HOST OF THIS WEBINAR
BQE CORE is the award-winning firm management software, created by architects for architects, that project-based firms trust to run their operations for better project outcomes, and more profitable futures. Their fully integrated suite of intuitive tools with 24/7/365 support provides back-office automation to power front-office insights, making firm management more agile, informed, and data-driven. Learn more at www.bqe.com.
ABOUT CVG
CVG is a carefully curated team of specialists with backgrounds in design and business. We understand the nuance of running architecture firms with staff sizes under 20 people because we’ve been there. Our virtual work environment enables us to assemble a unique mix of talent from across the globe. And even though our home bases span across states and countries, we are a close-knit team working together daily to solve your specific challenges.