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The Bottom Line: Understanding Your Financial Statements
Presented in partnership with the NJSBDC at Stockton University
Understanding your small business’s financial performance is fundamental to knowing if the business is meeting your financial goals or if changes are needed in the way you do business. We’ll use realistic sample financial statements to illustrate the concepts we are discussing. Participants are also encouraged to bring their existing financial information to discuss or evaluate in class.
During the workshop, we’ll focus on the following:
- Accounting systems – we’ll help you identify the benefits of timely and accurate financial information and how a system can be put in place.
- Basic financial statements – we’ll identify the basic financial statements that are common to all businesses and what they mean.
- Interpreting financial information – we’ll guide you through the process, including setting benchmarks for business performance.
Making key business decision – you’ll learn how to use financial information to make key business decisions such as when to hire additional employees, when to adjust pricing, or how to reduce excess costs.
Learn from an expert
Training and Technical Assistance Officer
Beth brings a rich background of education, entrepreneurship, and outreach to her role on UCEDC’s training and technical assistance team. A small business owner herself, she was most recently the co-founder and director of an award-winning yoga studio in Collingswood (and UCEDC microloan client!). Prior to that she spent five years as a high school English teacher and 10 years as a community educator at Philadephia-based nonprofit organizations. And don’t forget her stint as a member of The Trolleyvox, an indie pop group that recorded five albums (find them on iTunes!)
Beth’s eclectic experience serves her clients well – she understands the challenges of running a small business having done it herself. She brings a creative approach to problem-solving and opportunity-finding thanks to her artistic talents. And as a long-time educator, Beth excels at delivering engaging and practical business content for start-up and experienced owners alike.