Although many tech executives can read a balance sheet, in the sense of recognizing debits and credits, Singleton said he has too many instances where those same executives do not understand the implications of those numbers. We talk about leasing vs. purchasing equipment, which is another big deal for start-ups. High-tech types need to know Experts say a solid grounding in accounting principles is something an aspiring tech exec will need sooner rather than later. By the time entrepreneurs go hunting for venture funding, they are supposed to know this stuff already, said Mark Heesen, president of the 400-member National Venture Capital Association, headquartered in Arlington. The Treasure Hunt is no dry classroom lecture.
Participants take on roles.
They crack jokes. They blow whistles. It's an approach that worked for McNelia. He makes everybody an investor in this pretend company and gives you funny money to play with in order to help you better understand what he is teaching you. And now I am able to look at the balance sheets and understand what I am looking at.