Understanding Business Financials

Overview

It is essential to be able to understand the financial health of your business, without relying solely on your accountant. 

This workshop will show you how to develop ‘snapshot’ measures (key performance indicators) of your business progress to make sure it stays on track. It will also provide you with a good understanding of your financial essentials so that you will know the right questions to ask your accountant.

Main topics covered

This workshop covers:

  • how to read a profit and loss statement
  • knowing the difference between margin and mark-up
  • understanding a balance sheet
  • tracking key performance indicators
  • knowing your net cash position
  • the importance of managing cash flow

You'll receive a practical workbook, and there will be an opportunity to ask questions.

It's recommended that you have a calculator with you for this workshop.

Who it's for

This is an entry level workshop for people with little or no understanding of business financials.

It will also be useful for business owners who want to be better equipped to spot financial problems or areas of concern.

Cost

This workshop is free of charge.

About the presenter

Our foundation workshops are presented by SBDC business advisers and local small business owners. These presenters have been selected for their vast experience and expertise in this subject area.

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