The Bottom Line: Understanding Financial Statements
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 toillustrate 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 thorugh 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.
Featured Speaker
Beth Filla, Training and Technical Assistance Officer at UCEDC
Beth Filla brings a rich background of education, entrepreneurship, and outreach to her role on UCEDC's taining 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. Prior to that she spent five years as a high school English teacher and ten years as a community educator at Philadelphia-based nonprofit organizations. 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.
UCEDC is a private, non-profit economic development corporation, dedicated to boosting local economies and strengthening communities through business development and job creation. Since 1977, UCEDC has been helping small businesses by making loans, training and mentoring business owners, helping businesses obtain government contracts, and providing accurate and relevant business information. As a Community Development Financial Instituation (CDFI) and SBA lender, UCEDC is committed to providing access to capital to underserved populations and communities.
Seminars are subject to change. Please check our calendar regularly.