:: Instructor-led Classes

Show Me the Money! Create and Understand Financial Statements

Course Details

In today’s business world you must possess the basic skills to thoroughly evaluate your business. Your vendors, creditors, business partners (and virtually everyone you will do business with) expect this. This course will provide you with the fundamentals needed to understand, prepare, and interpret the basic financial statements for your business. It is vital that the business owner understands and can interpret the position of the company to drive long term success. As an entrepreneur you simply cannot solely rely on a third party to both prepare and interpret these results. Lack of understanding or ability to complete these basic fundamental documents would make it difficult for a business owner to secure financing, investors, or plan adequately for future growth. The majority of small business failure is attributable to financial issues, protect your business and start with solid financial grounding to grow from.

Course Objectives

Upon completion of this course, the participant should be able to:

  1. Prepare and interpret the balance sheet
  2. Prepare and interpret the income statement
  3. Prepare and interpret the cash flow statement
  4. Understand the role each play
  5. Understand how to break each down for opportunity and comparison
  6. Use these to forecast your business and create trends
  7. Understand the tools/resources available to assist the business owner in this area

Small Business Success Skills Certificate Program

This class is eligible for the Small Business Success Certificate Program. Participants who complete six classes will receive a framed gold seal Small Business Success Certificate jointly from both The University of Texas at Austin Professional Development Center and City of Austin Small Business Development Program.

Rationale

Understanding how to read a financial statement is a basic skill all business owners need. This course will enable students to apply learned concepts to prepare and interpret a financial statement.

Required Material

  • Pen
  • Notebook

Prior to Class

N/A

Type of Course

Short Course — 3 hours

Course Outline (3 hours)

  • The Basics
  • The Balance Sheet (A-L=NW)
  • The Income Statement
  • The Cash Flow Statement
  • Using Ratios as a Tool
  • Forecasting
  • Tips, Links, and Resources

Summary and Guide to Resources for Continued Development

City of Austin Small Business Development Center

Coordinator(s)

Questions about this course?

    512-471-9971
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