Demystifying Financial Foundations: Income, Assets & Cash Flow
Date and time
-
Location
Online
Organizer
SCORE Greater Wichita
olivia.depperschmidt@scorevolunteer.org
316-269-6273
Host organization
SCORE Greater Wichita
Type of event
Resource Partner event
Event description
Learn how to understand, create, and use your financial statements.
Understanding Financial Statements:
- Introduces the three main financial statements: the Income Statement, Balance Sheet, and Cash Flow Statement
- Explains their purpose: showing profitability, financial position, and available cash
- Importance in decision-making, tracking performance, and securing investments
Income:
- Impact on profitability and business health
- Connection to revenue streams and sales
Assets:
- Distinguish between current (liquid) and non-current (fixed) assets
- Importance for collateral and borrowing power
Liabilities and Equity:
- Difference between liabilities (debts & obligations) and equity (owner's interest)
Cash Flow:
- Importance of cash flow management to successful business operations
- Differences between operating, investing, and financing cash flows