Back to Events List

HOW TO READ AND UNDERSTAND YOUR BUSINESSES FINANCIAL STATEMENTS

Hyde Park, VT

HOW TO READ AND UNDERSTAND YOUR COMPANY’S FINANCIAL STATEMENTS

If you don’t understand your company’s finances you don’t understand your business. Your financial reports tell you if your business is healthy or in trouble and if you are meeting your projections or if you need to change directions.. Most small business owners and managers would agree that they all share a fundamental weakness in the difficulty they have in interpreting what their financials are telling them – if they are reviewing them regularly at all. This three hour workshop will provide business owners with limited experience in accounting with knowledge about the following topics:

● A basic understanding of what the income statement, balance sheet and statement of cash flows tell you ● How the three reports are linked together ● Why getting accurate and appropriate charts of accounts set up correctly is crucial ● GIGO – why getting professional help with data input is an excellent investment ● What some of the key indicators on each report are and why they are important ● Why an ongoing year over year results review on a monthly basis is not only important but can be costly if it is NOT done ● The difference between profits and cash flows ● Why monitoring cash flow on a continual basis is necessary

Developing a deeper understanding of your business’ financial results will not only lead to increased profitability, it will help you to become a better and more professional manager.

The Presenter for this workshop is James Black, Professor and Chair of Business and Economics at NVU - Johnson Campus.

This workshop is presented in cooperation with the Vermont Small Business Development Center.
The workshop will take place on May 15th from 9 am to noon in the Community Room at Green Mountain Technology and Career Center in Hyde Park. The cost to attend is $49 and pre-registration is required. Please visit www.vtsbdc.org and click on TRAINING to register and pre-pay on line or email or call Vicki Blanchard at dblanchard@vtsbdc.org , 802-728-9101. For more information call John Mandeville at 888-5640.

Vermont Small Business Development Center is a partnership program with the U.S. Small Business Administration. The support given by the U.S. Small Business Administration through its funding does not constitute an expressed or implied endorsement of any of the co-sponsors’ or participants’ opinions, products or services.