Understanding business financials

It is essential to be able to understand the financial health of your business without relying solely on your accountant.

This workshop will show you how to develop ‘snapshot’ measures (key performance indicators) of your business progress to make sure it stays on track. It will also provide you with a good understanding of your financial essentials so that you will know the right questions to ask your accountant.

This workshop covers the following topics:

• how to read a profit and loss statement
• knowing the difference between margin and mark-up
• understanding a balance sheet
• tracking key performance indicators
• knowing your net cash position
• the importance of managing cash flow.