Lab Manager | Run Your Lab Like a Business


Financial Basics for Lab Managers

Join Lab Manager and our experts as we discuss the financial responsibilities of the lab manager 

Management Matters Webinar

Available on Demand


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Lab managers are responsible for the financial health of the lab. However, most lab managers have little or no previous financial training before starting in the role. It is vital for lab managers to gain a basic understanding of the vocabulary, terms, and processes used by the financial people in the organization which will enable improved communication and better decisions. Lab managers don’t need to be experts in accounting or finance—they need a basic foundation in these skills to enable the lab to succeed.

This presentation will explore these different aspects of the financial responsibilities of the lab manager so that they can build a basic understanding and apply this knowledge to ensure the financial stability of their lab.

Learning objectives: 

  • Sources of revenue
  • Profit and loss
  • Accounting terms and expectations
  • Profit and margin
  • Types of costs
  • Building budgets
  • Financial challenges


Scott Hanton
Group Editorial Director
Lab Manager

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