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 course shows you how to prepare an income statement.
This course provides a detailed look into the various sections of a cash flow statement. It also describes two methods used to calculate cash flow from operating activities, indirect and direct with examples that will give you an edge when it comes time to prepare a cash flow statement of your own.
This course provides some simple profitability ratios and analytical procedures that can help determine your company's present and futurefinancial standing. With your findings, you can identify company trends and compare current figures to your business's historical performance. Once this essential data is in hand, you will be able to evaluate your business in relation to your competition and industry norms.
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.
Other sites providing additional accounting and business tutorials are:
SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. They have been doing this for nearly fifty years.
Kutztown University Of Pennsylvania has over 90 Online Learning Programs. They are constantly adding more programs. This is one of the largest collection of free, on-demand entrepreneurial training resources available in the United States and is part of their "Success Network". They have Online Learning programs from the SBA, IRS, Small Biz U, Virtual Advisor and custom programs from the Pennsylvania SBDC Network.
This is an excellent 45 minute online tutorial on financial statements developed by Baruch's Computing and Technology Center (BCTC) and Kognito Solutions LLC with the cooperation of Baruch's Stan Ross Department of Accountancy.