Electronic Media Management
What are the Financial skills required of a radio manager? Managers need financial skills to establish and maintain budgets, meet revenue projections and to deal with budgetary contingencies Known in the business as the infamous “Bottom Line” these financial skills include knowledge of 1. financial statements (Balance sheets, assets, liabilities and owner’s equity), 2. Ratio analysis (Liquidity ratios and break-even analysis), 3. capital budgeting (equipment replacement and long-range- planning), 4, depreciation (Cost of tangible assets), and 5. amortization that deals mainly two ways with intangible assets — the straight-line method and the declling value method. DISTINGUISE BETWEEN MANAGERS WHO HAVE CONTROL BY BEING AUTHORIZED T0 SET BUDGETS AND ARE AUTHPRIZED TO MAKE PURCHASES AND THOSE MANAGERS WHO MERELY RECOMMEND BUDGET LEVELS AND WHAT EQUIPMENT SHOULD BE PURCHASED.