Demystifying Financial Foundations: Income, Assets & Cash Flow

Event description

Learn how to understand, create and use your financial statements

 · Understanding Financial Statements:

o Introduces the three main financial statements: the Income Statement (Profit and

Loss), Balance Sheet and Cash Flow Statement.

o Explains their purposes: showing profitability, financial position, and available cash

o Importance in decision-making, tracking performance, and securing investments.

 · Income:

o Impact on profitability and business health.

o Connection to revenue streams and sales.

· Assets:

o Distinguish between current (liquid) and non-current (fixed) assets.

o Importance for collateral and borrowing power.

 · Liabilities and Equity:

o Difference between liabilities (debts & obligations) and equity (owner's interest).

 · Cash Flow:

o Importance of cash flow management to successful business operations.

o Differences between operating, investing, and financing cash flows.

This is the first in a series of 3 consecutive finance webinars offered on Wednesday, February 12, and Thursday, February 13, 2025. Please register for each class you plan to attend.

 Faculty: A team of SCORE and community volunteers with wide ranging business and financial experience.