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Business Workshop – Understanding Financial Reporting – Part 2
September 28, 2022 @ 5:30 pm - 7:30 pm
Ever think that you might be missing important information from your financial statements? Ever wonder if there are important facts in these statements that could help you run your business better? Well, the fact is that your financial statements tell you a lot about your business. They also provide you with insights into what’s working right and where improvement is needed.
You don’t need to guess, or pay someone else to do this for you! Understanding financial statements is a skill you can learn and it’s important to you as a business owner.
This two-part workshop takes participants through an in-depth look at understanding financial statements which reveal the health and direction of your business. At the end of the course, participants will be able to read and understand a profit and loss statement, a balance sheet and cash flow statements. Additionally, participants will have the ability to evaluate current reports using key financial ratios and metrics and compare them to prior periods and industry norms.
Part 2: Validate & Use Financial Information as a Decision Support Tool
- Understand how your business is doing by using:
- Key metric indicators
- Break even analysis
- Receive a Microsoft Excel breakeven template
- Apply “what if scenario feature to assess possible actions
- Potential revenue initiative
- Buy vs lease
- Buy new vs used
- Variable vs fixed labor/expense options
- Determine if your financial statements contain common accounting problems found in entrepreneur financial statements
- Receive a monthly review checklist to guide you in validating your financial statements
- Receive Microsoft Excel Sale, Trade-In or Disposal of Assets Accounting Entry Template
In-Person & Zoom