Question

Topic: Advertising/PR

Financial Reporting For Dumb-me

Posted by Anonymous on 9/7/2005 at 5:07 AM ET 125 Points
Hi All,

I should think this is an easy one for you pros out there. I'm about to embark on a career path with a local public relations consultancy. I had a short training stint with GCI Worldwide (Msia) before but I mainly assisted on consumer accounts rather than corporate or healthcare. My concerns are as follow:

1. The agency I'll be joining does a lotta financial reporting for its current clients. I've been reading up business news of local and international papers, however, are there any other resources that I can refer to, to increase my knowledge on this? I'm so NOT a finance/business person so would like to know more abt terminologies, concepts etc..

2. Tips on writing releases of business news (in English and Malay). The whole inverted pyramid thang. Examples? Templates?

3. Forgive me if this falls under the "stupid questions" category. Are there ways where I can train myself to be more interested in this matter. Perhaps, it is because I dont understand the field? Could this be the problem? When I see the figures I tune out. Help.

I'll be starting in October so I have some time to prepare myself. I'll be on a six-months probation period so I REALLY gotta make this work. Extra tips on working in an agency would also be greatly appreciated. Thank you.

Thanks folks.

Cheers,
Arnee
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RESPONSES

  • Posted by mgoodman on 9/7/2005 at 9:48 PM Accepted
    I think you have ample motivation to learn what you need to learn: It's a job requirement, and you want the job.

    The "how" is not quite so simple. The ideal situation would be to find a mentor who can teach you what you need to know one-on-one.

    You might try showing up at a local university where they have an MBA program (or even an good undergraduate business program) and see if you can find a junior professor or graduate student who will spend some time with you for a reasonable fee.

    If they're good, they'll teach you what you need to know and enjoy the process. From your perspective, it's probably worth a few tutoring sessions if it will help you accomplish your objective. They might also recommend a book or two you could use to further hone your skills and understanding.

    Good luck. I suspect that a self-study program alone wouldn't do the trick, because it would require an inordinate commitment on your part to stick with it and put in the necessary time/effort. If the numbers aren't comfortable for you now, it's unlikely a book full of "numbers" concepts won't be your favorite bedtime reading.
  • Posted on 9/13/2005 at 12:41 AM Author
    Would appreciate more help guys.. Thanks..
  • Posted by SRyan ;] on 9/19/2005 at 4:44 AM Member
    Arnee, I don't have a drop of experience in this area.

    However... have you explored all of the resources on this site (not just the forum)? I suggest you look at:

    » The "Search Resources" link on the right side of this page, and look under the Advertising/PR category.
    » The "Articles" link at the top of this page and browse the topic index.
    » The tutorial page for some basic material.

    Good luck!
  • Posted by Nolan on 9/20/2005 at 12:14 PM Accepted
    Understanding and working with the business media is a challenging prospect and one that is not quickly learned. However, when you do learn the lingo and the key interests of financial writers, you gain a skill that can help you make some big bucks doing corporate PR!

    Frankly, the best way to learn this information has been mentioned--take some financial courses at your local college or online from University of Phoenix or something. An MBA, as cliche as they are these days, are still surprisingly helpful to a corporate PR pro. You don't have to go all the way there, but some of the introduciton to finance classes could give you the fundamentals you're looking for.

    Alternatively, there are some excellent MBA-style resources out there on the web that can help define some of the key concepts and ideas you're going to have to talk about.

    One of my favorites is: https://www.quickmba.com/ and I also like: https://www.investopedia.com/university/buildingblocks.asp. Both have some excellent articles that should give you some nice foundations.

    A great way to get excited about corporate finance is to get involved. Invest a small amount in the market through an inexpensive service like eTrade and see what happens. The most fun I've ever had reading about this is at Motley Fool (https://www.fool.com) where they have a great writing style and some good investment advice. Spend some time reading around on that site!

    Now, for examples of good financial press releases? Go to the press section on the web sites of large companies (like HP, Dell, GM, etc.) , and you'll see a good financial release in there nearly every month--or at least every quarter as they report their results!

    Good luck in your new venture.
  • Posted by Mushfique Manzoor on 9/24/2005 at 1:49 AM Member
    hi arnee

    great advice from experts so far.

    adding to those, i suggest you to have a look at MultiMedia University in Malaysia (assuming u r from malyasia). They might have some part-time or diploma courses that might of help to you. Alternatively you can take online courses.

    lastly you can buy a basic Financial Management book and start reading it. whereever you hit an understanding barrier, you can take help from peers or students. Get the basics right, what is Asset, what is Liability, what is Owners Equity, what is Cash Out Flow and Cash In Flow etc. also do watch (TV and online) the Financial news and channels like MSNBC, BBC World Business Report, CNN etc. you will get a clue of what is happening with companies and you can dig into those to enhance your knowledge.

    hope that helps. if you need any help, just drop me a mail.

    cheers!!
  • Posted by Corpcommer on 9/26/2005 at 10:46 PM Accepted
    Hi!

    Some sources that will help you. I suggest you check all of them.

    PR Aids - AMA's Tips for Writing Press Releases --
    https://www.marketingpower.com/content25750.php
    It's a public relations guide from American Marketing Association on Writing Press Releases.

    Tutorial --
    https://www.marketingpower.com/content1057.php

    ---------

    Those seeking source info re the financial services industry can access useful links on the Amer. Bankers Assoc. website. It offers free information as well as members only info.
    Links worth checking on the "Sites of Interest" menu include Online News and Other Services/Assocs.

    https://www.aba.com/Sites+of+Interest/default.htm

    --------



    www.morningstar.com (note Research Documents section)
    ---------
    Commerce Bank's Business Learning Center -- (note financial terms defined)

    [inactive link removed]


    Good luck.




    [Moderator: Inactive link removed from post. 2/17/2011]
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