Understanding Basic Financial Statements for Profitability (Live Webinar)
Presented in partnership with
New Jersey Business & Industry Association (NJBIA)
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.
UCEDC offers free services for small businesses interested in exploring government contracting opportunities. To get started with a personal consultation, please click Assistance Request, enter your contact information and you will be contacted by a member of our Procurement Technical Assistance Center (PTAC) Team.
Alejandro Cruz is a training and mentoring officer at UCEDC, a statewide nonprofit economic development corporation that provides loans to startup and growing businesses, government contracting assistance, and training workshops to entrepreneurs and small businesses.
Prior to joining UCEDC, Alejandro held Project Manager positions at Wicresoft and Solar Renewable firms in New Jersey creating financial forecasts for business startups. He also served as lead consultant for three years for an economic development center in South Jersey.