The Bottom Line - Understanding Your 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 use realistic sample financial statements to illustrate the concepts we are discussing. Participants are encouraged to bring their existing financial information to discuss or evaluate in class.
During the workshop, we focus on the following:
Accounting systems – 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 – guidance through the process, including setting benchmarks for business performance.
Making key business decisions – 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.
This course is an offering of the Hudson County Consortium, comprised of the following organizations and dedicated to promoting business success through education:
Hudson County Chamber of Commerce (Hudson Chamber)
Hudson County Community College, Center for Business and Industry (HCCC)
Hudson County Economic Development Corporation (HCEDC)
Hudson County Office of Business Opportunity (Hudson County OBO)
NJ Small Business Development Center at New Jersey City University (NJ SBDC at NJCU)