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Understanding Your Financial Statements (LIVE WEBINAR)
Presented in partnership with the Somerset County Library System
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.
PLEASE NOTE: Once you have registered, a link to the webinar will be emailed to you prior to the event with instructions.
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.
Keith Whelan 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, Keith held various marketing and business development positions at HSBC and also established businesses in the B2B lead generation and financial literacy fields. He served as lead consultant at the Middlesex County SBDC and has been a SCORE volunteer for the Northwest NJ chapter since 2012.