BDO masterclass: Know your numbers

There is a direct correlation between financial literacy and business success. Your level of financial literacy affects the speed and success of your growth plans. It affects your ability to borrow money for growth and your relationship with financial lenders and investors. Understanding your numbers will ensure you are aware of the financial impact of every business decision you make.

Empower yourself with the knowledge of how to read key financial reports and become a business owner who uses their knowledge of numbers to make better business decisions. Are you able to:

• explain the difference between gross profit and net profit
• determine which expenses should be allocated to cost of goods sold
• explain the relationship between your profit and loss and balance sheet.

This masterclass suits anyone looking to improve their financial literacy and gain a deeper understanding of accounting principles and financial reports, covering:

• determining your current level of financial literacy
• identifying financial challenges and discuss strategies to overcome them
• understanding the structure of a profit and loss statement
• identifying the cost of goods sold to ensure your gross profit is correct
• discussing the three report layouts every business owner needs
• understanding the structure of a balance sheet.