Understanding Your Financial Statements - Financial Literacy Workshop with Michael McCormick CA www.bestpracticeadvisor.com

Do financial statements help you manage your business or simply leave you confused, puzzled and unsure of your grasp of your financial realities? Are you winning, losing or sliding sideways? This workshop focuses on the fundamentals behind the core financial statements and highlights what you must understand to make them a useful management tool. The content and exercises will improve your skills to converse more effectively and confidently in the financial language that has under-pinned commercial activities for centuries.

Workshop Outline:

• Accounting – who invented this stuff?

• The Principles most relevant to small business

• Financial Statements – the language of commerce

• A closer look at the meaning behind the numbers of your:

• Income Statement

• Balance Sheet

• Cashflow Statement

• Financial ratios critical to:

• You and your team

• Other stakeholders

• Benchmarking key ratios against industry norms

• Financial literacy gaps in your business/Exercises/Check for Learning

• Overview of financial dashboards, KPI’s, AI-based modern-day tools that improve financial literacy with key stakeholders