Accounting 101
SMALLBIZU: Take command of a bookstore and coffee bar and see how money moves in and out of a business learning the fundamentals of accounting at the same time. This course provides an in-depth look at each of the primary accounting transactions used in a business demonstrating how "the language of business" works. Without using any accounting jargon to begin with, the course demonstrates how to keep score in a business through a simple scorecard approach. When you are finished, you are shown that each of your scorecards represents one of the three primary financial statements used in managing a business. Creating a Profit and Loss Statement
VIRTUAL ADVISOR: Ask yourself: Exactly how are my products and services affecting my business? How much money am I actually making because of those products and services? An income statement answers these and other financial questions. An income statement tells you and any stockholders how your net assets have increased or decreased. This workshop shows you to prepare a statement and provides you with a template to prepare your own. Preparing a Balance Sheet
VIRTUAL ADVISOR: With a properly prepared balance sheet, you can look at a balance sheet at the end of each accounting period and know if your business has more or less value, if your debts are higher or lower, and if your working capital is higher or lower. This workshop shows you to prepare a statement and provides you with a template to prepare your own. Preparing a Cash Budget
VIRTUAL ADVISOR: Just as you would not purchase new furniture for your home without enough cash, or at least a solid plan to cover a personal loan from your bank, your business needs the same careful handling of its expenditures. All businesses, no matter what type or size, need to properly develop a plan for their expected cash intake and spending. This plan is commonly known as a cash budget, and will provide you with a blue print of how the business will operate financially. |