Podcast

13 Accounting Made Understandable with Darrell Mullis

Posted at July 10, 2014 | By : | Categories : Podcast | 1 Comment

Download MP3 Find in iTunes Darrell Mullis of Stratactics is a communication and finance guru and a financial trainer for nonfinancial professionals who has a very unique way of teaching and spreading his wisdom. Coming from a civil engineering background, and having run his own successful construction firm, he realized that engineering school didn’t teach him much about finance. He participated in a one day program called The Accounting Game and loved the learning methods so much that he ended his construction career and became a master teacher for the program.

 

Today, he’s the founder of Stratactics, and specializes in teaching finance and accounting to managers and associates to create more awareness of financials within the company, as well as lay groundwork for a stronger team dynamic and better communication. He is also the author of The Accounting Game, a book that features a lemonade stand on the cover, and provides readers with an unconventional, engaging way to learn about finance and break it all down. Also, via an interesting life twist, he’s a beneficiary of Ben & Jerry’s free ice cream for life!

 

As we know, finances can be a very confusing subject for most people, unless you are the accounting type. Most people have emotional issues around money to begin with, and financial information can be somewhat counterintuitive if you’re not working with it on a daily basis. Darrell points out that the primary reason that people are not interested in financials is that they look at the statements and the documents without realizing that finances are a dynamic process and show the dynamics of how day-to-day activities of the business and the effect they have. Many people look at the income statement or the cash statement, without understanding, for example, that the balance sheet is the most essential tool when looking at finances. It allows one to see all of the dynamics at work, and shows the interplay of the ins and outs of a business.

 

The process of teaching that is used in the book, and is taken to another level within Darrell’s seminars, is a creative one. For example, the balance sheet is represented by a gameboard, where students move colored pieces as they conduct transactions. This interactive method of learning allows for the learner to be engaged and address complicated topics from another perspective. Through using color and keeping the reader or participant engaged, the Accounting Game helps somebody just coming into it to understand the information and retain it better through experiential learning. In fact, Darrell is already working on another book that goes more in depth and helps people analyze what they’ve learned.

 

Darrell Mullis draws on his expertise to teach us why and how:

      • It is important to create a culture of big picture strategic thinkers.
      • To move from an outdated, ineffective management culture to one where leadership runs throughout the organization.
      • Understanding finance and financial statements is a huge part of innovating and teamwork.
      • Everyone within the company (every department, every level of employee) needs to be empowered to understand how day-to-day decisions impact the key metrics of the company.

 

Think only the financial people need to understand your company’s finances? WRONG!  [TWEET THIS]

  Darrell Mullis’ book The Accounting Game can be found on Amazon. Darrell can be contacted via email at DMullis@stratactics.com or via phone at 303-666-1095.

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About Emily Chase Smith

I’m an experienced attorney and entrepreneur. With my background in bankruptcy, I’ve seen the end of the business lifecycle and use that knowledge as a lighthouse to help others avoid the rocks. I counsel with entrepreneurs to provide custom solutions to help you get back in the game. You can contact me at (949) 391-6063, Google+ Twitter emily@emilychasesmith.com

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