Introduction to Financial Management

Event description

Accounting is the language of business. Being conversant in this language means you have a better ability to proactively plan where your business is going and to work effectively with your accountant, bookkeeper, lenders, and other members of your entrepreneurial advisory team.  We consider business financial education to take place along a spectrum of learning – starting with recordkeeping/bookkeeping (accurately tracking your financial transactions), progressing to accounting (understanding how to read “the numbers,” interpret financial statements, identify trends, etc.), and culminating in financial management (taking an active role in the future planning of the direction of your business). This course focuses primarily on bookkeeping and the fundamentals of accounting.

This class is designed for participants who:

• Do not have an accounting background.
• Would benefit from breaking down the components of each of the “Big 3” financial statements – the Profit & Loss (Income) Statement, the Balance Sheet, and the Statement of Cash Flow
• Are unsure how to organize financial information to ensure accurate records
• Have already built a business plan (formal or informal), and can answer basic information about their revenue streams, pricing, costs, etc. Haven’t nailed down these details yet? Consider taking Biz Smart Sprint or the Entrepreneurial Training Program
• May be uncomfortable with “the numbers side” of the business and are looking to increase familiarity
• Are looking for an introduction to key financial tools and concepts, or those who are looking to revisit these topics
• Have recently taken on financial support roles in their business, or who need a general understanding of accounting to be successful in their roles
• Work with a professional accountant, but want to maximize that investment by knowing the basics and being able to focus on strategy

Time: LIVE VIRTUAL SESSIONS Dates & Times – all sessions take place from 4:00 pm – 5:45 pm CST

• Monday, November 18, 2024 | Session 1 – Class introduction, recordkeeping, establishing strong accounting practices
• Monday, November 25, 2024 | Session 2 – Financial Statements (overview) and the Income Statement/P&L
• Monday, December 2, 2024 | Session 3 – Balance Sheet
• Monday, December 9, 2024  | Session 4 – Cash Flow Management
• Monday, December 16, 2024  | Session 5 – Beginning Financial Management