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Introduction to Financial Management (formerly Financial Management – Sprint)
November 13, 2023 @ 4:00 pm - 5:00 pm CST
$249![](https://www.startinwi.com/wp-content/uploads/2023/08/WSB-and-SBDC-WI-Horizontal-14.png)
Whether you are starting a new business or looking to organize your current business’ finances, accurate financial information is one of the most valuable tools you have to drive success. This course seeks to set participants on the right path by providing a “101” overview of financial bookkeeping, accounting terminology and concepts, a breakdown of the key financial statements, and a brief introduction to financial management.
This class is designed for participants who:
Do not have an accounting background.
Would benefit from breaking down the components of each of the “Big 3” financial statements – the Profit & Loss (Income) Statement, the Balance Sheet, and the Statement of Cash Flow
Are unsure how to organize financial information to ensure accurate records
Have already built a business plan (formal or informal), and can answer basic information about their revenue streams, pricing, costs, etc. Haven’t nailed down these details yet? Consider taking Biz Smart Sprint or the Entrepreneurial Training Program
May be uncomfortable with “the numbers side” of the business and are looking to increase familiarity
Are looking for an introduction to key financial tools and concepts, or those who are looking to revisit these topics
Have recently taken on financial support roles in their business, or who need a general understanding of accounting to be successful in their roles
Work with a professional accountant, but want to maximize that investment by knowing the basics and being able to focus on strategy
Learning objectives
Establishing a good organizational system and clear accounting processes
Develop a basic understanding of accounting terminology
Understand the key components of the “Big Three” financial statements – balance sheet, P&L statement, and cash flow statement
Learn more about the impact of breakeven on the bottom line
Practice a few examples of analyzing financial information to understand how your numbers relate to your business
Help you “put the narrative to the numbers” and begin to be able to ask questions about what you see in your financial statements. By working with your team and/or accountant, you will first be able to understand what is happening, and eventually be able to make incremental improvements.
Session Dates & Course Content (all sessions take place from 4:00 pm – 5:45 pm):
Monday, November 13, 2023 | Session 1 – Class introduction, recordkeeping, establishing strong accounting practices
Monday, November 20, 2023 | Session 2 – Financial Statements (overview) and the Income Statement/P&L
Monday, November 27, 2023 | Session 3 – Balance Sheet
Monday, December 4, 2023 | Session 4 – Cash Flow Management
Monday, December 11, 2023 | Session 5 – Beginning Financial Management
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