This workshop begins with a summary discussion of accounting terms, their definition, and basic accounting rules. The value of other numeric but not dollar information is noted as well. It then discusses the difference between accrual and cash accounting methods, with examples. With that information as background, it focuses on the three standard financial statements of Balance Sheet, Profit and Loss (Income), and Cashflow in detail. The value and use of comparative statements to help management actively monitor and control the business’ financial situation is then discussed.
-Upon registering you will receive a confirmation email with the SCORE Zoom link to attend.
-You do not need a Zoom account to participate.
-Registration closes 24 hours before the start of the workshop.
-Please connect 5 minutes in advance to be sure you have a good connection. The workshop begins promptly at Noon and concludes by 1PM.
Presenter's Bio: Keith Vollmar
For 20 years I have worked with businesses from $1.0 to $100.0 million in sales with the following activities and services: Part-Time CFO Roles Business Plan Development Cash Flow Forecasting Establish and Maintain Banking Relationships Educate Owners on financial statements Analyze Financial Statement results and information Establish Key Performance Indicators - Both financial and non-financial