In this episode of the Female Executive Survival Guide podcast, Lauren Eyles discusses finance fundamentals with Belinda Turner, an experienced chartered accountant. They explore the importance of understanding financial statements, including profit and loss statements, balance sheets, and cash flow statements. The conversation emphasizes the need for leaders to grasp financial concepts to make informed decisions and drive organizational success. They also discuss the role of technology in finance, the significance of identifying business drivers, and the importance of soft skills in leadership. Belinda shares her career journey and offers valuable advice for women in leadership roles. Takeaways Leaders must understand financial statements to make informed decisions. Financial statements tell a story about the organization's performance. Profit and loss statements show income and expenses over a specific period. The balance sheet provides a snapshot of assets and liabilities. Cash flow statements track money movement in and out of the organization. Identifying business drivers is crucial for strategic planning. Technology can enhance financial reporting and decision-making. Soft skills are essential for effective leadership in finance. Regularly assess personal values and career goals. Growth opportunities often arise from aligning work with personal interests. Sound bites "The numbers tell us a story." "Cash is king." "Check in on what you enjoy and value in work." Chapters 00:00 Introduction to Finance Fundamentals 04:38 Understanding the Importance of Financial Literacy for Leaders 11:13 Key Financial Metrics Every Leader Should Know 15:53 Decoding Financial Statements: Profit and Loss 19:32 Analyzing the Balance Sheet 22:28 Cash Flow Management: The Lifeblood of Business 27:12 Leveraging Technology for Financial Insights 32:28 Empowering Leaders: The Role of Finance in Decision Making 36:42 Soft Skills in Finance: The Human Element 38:28 Aligning Career Values with Professional Growth Guest bio Belinda Turner is an experienced Chartered Accountant, who has guided small and large businesses in accounting, compliance and internal processes. Belinda is a trusted advisor for Boards, CEOs and Finance Teams across Australia and is currently a Senior Manager with RSM Australia on the NSW Central Coast. With Belinda’s extensive experience, she is well-placed to advise small to large businesses and their accounting practices, compliance issues, special projects and internal processes. Belinda holds a Bachelor of Commerce from the University of Newcastle and a Post Graduate Diploma of Chartered Accounting from the Institute of Chartered Accountants in Australia (now known as Chartered Accountants Australia and New Zealand). You can connect with Belinda at RSM or on LinkedIn. Host bio Lauren Eyles, Producer and Host of the Female Executive’s Survival Guide, is a trusted guide to new and experienced leaders, helping them navigate times of growth and change. She loves helping leaders find calm amid chaos, using her extensive experience as a Coach and Mentor, Board Chair, Non Executive Director and Executive Leader. Lauren started this podcast to support and inspire women in their first few years of executive leadership, as she found that being the only woman on the senior leadership team was a bit lonely. Lauren is a graduate of the Australian Institute of Company Directors and has an MBA (Distinction), a Master of Sustainability and qualifications in coaching, change management, communication and project management. Lauren would love to hear what you think of the podcast and what topics you'd like her to cover next. Please reach out via LinkedIn or Instagram. Keywords finance fundamentals, financial statements, profit and loss, balance sheet, cash flow, business drivers, technology in finance, leadership, executive coaching, women in leadership
