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Business Financials 101: Understanding Small Business Financial Statements and Creating Budgets

May
16
2019
Thu 11:30 PM to 1:30 PM
Topic: Financial Analysis

The success of a business often depends on the success of its financials and the ability to create and follow budgets. A realistic and well planned budget is one of the most important tools for guiding your business so that you operate within your means, handle challenges, and still make a profit. Beyond your budget, understanding your financial statements is not only important to ensure accuracy and accountability, but it is also necessary when making crucial financial decisions affecting your business. Potential investors and creditors use the information to evaluate a company's financial performance. Knowing how to analyze your financial statements will help you get a clear picture about your liquidity, leverage and profitability, so you can develop the best strategy to reach your goals. Topics included at this seminar: • Reading and Understanding your Income Statement and Balance Sheet • Factors to change ROI: Return on Investment and ROA: Return on Assets • Cost of Production Implications • Developing a Budget: Look at your plans for growth or cutting unprofitable areas of your business. Plan your profit levels. • Cash Flow Analysis • Impacting Net Worth Isn’t it time you leverage the power of knowledge? This is a brown bag lunch and learn so bring your lunch if you choose! This class is taught by Russ Coltman, Managing Partner at Coltman Information Management, LLC with over 25 years of experience in helping people create sound business management systems. Russ is also the creator of The Success Scorecard© management system. His training focus is on developing well rounded skill sets necessary to thrive in today’s competitive environment.


Fee: No Cost

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Phone: 440-525-7706

Location

Holden University Center at Lakeland Community College
Holden University Center
Holden University Center at Lakeland Community College, 4242 St. Rt. 306, Kirtland, Ohio
Small Business Development Centers of Ohio U.S. Small Business Administration America's Small Business Development Center Network Ohio Development Services Agency
Funded in part through a cooperative agreement with the U.S. Small Business Administration. The Ohio SBDC program is also funded in part by the Ohio Development Services Agency. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. For arrangements, call the Ohio SBDC at 614-466-2711 or (800) 848-1300.
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