Financial Statements Explained

When you own a small business, good financial record-keeping is a powerful tool. It is essential to understand a balance sheet, income statement, and statement of cash flow. These financial statements can show how the health your business, and help you make sound business decisions.


Break-Even Calculations and Pricing

Learn the difference between the cost of goods sold, operating, fixed, and variable expenses; how to calculate the amount of sales needed to break-even; and review pricing strategies. Participants who provide the NAICS of their business will receive a complimentary Bizminer industry financial report to see how they stack up.


Bookkeeping Part 6 - Cash Flows

Understanding Cash Flows and the story it tells others about your business:

  • ​Cash due to operating the business
  • Cash due to investing in the business
  • Cash due to financing the business
  • Cash Flow Ratios

Bookkeeping Part 5 - Balance Sheet

Understanding each element of the balance sheet and the story it tells others about your company:

  • Current Assets
  • Fixed Assets
  • Current Liabilities
  • Long-term Liabilities
  • Owner's Equity
  • Balance Sheet Financial Ratios

Bookkeeping w/ Google Sheets

Learn how to track income and expenses with an easy to use Google Sheet.


Bookkeeping Part 4 - Income Statement

​Understanding each element of the income statement and the story it tells about your business:

  • ​Revenues
  • Cost of Goods Sold
  • Gross Profit
  • Expenses
  • Depreciation
  • Financing interest
  • Net Income

 


Bookkeeping Part 3

  • Introduction to Breakeven Calculation Determining the Breakeven Point for Your Business
  • Introduction to Pricing Determine Assignments and Work Time

Bookkeeping Part 2

Learning and understanding the amount of sales needed to breakeven, budgeting and financial planning to control purchases, expenses, and developing profit goals.


Financial Statements Explained

When you own a small business, good financial record-keeping is a powerful tool. And then, knowing what a balance sheet, income statement and statement of cashflow are is essential in understanding how healthy your business is, and also in making sound business decisions.