Owner's Guide to Understanding Financial Statements
In one hour, you can master the art of reading and understanding your financial statements. No formal accounting training is necessary. No homework will be assigned. And, the information is valuable immediately and forever for your current business.
Learn why the Balance Sheet is used to measure your financial stability. If bankers are more interested in your Balance Sheet than your Income Statement, shouldn't you be?
Recognize that Net Profit is the result of history. You can change any other line in an Income Statement, but the Profit amount is a pure calculation. Treat it as such and focus your leadership on the rest of the picture
The Cash Flow Statement may be a new topic to some attendees, but once you see what it reveals, you will never ask for financial statements without also including the Statement of Cash Flows.
Many business owners know that bankers meet privately to discuss loan applications before any loans are approved. They also know that the business owner is never invited to show why the loan is a good investment for the Bank. Once you understand the Notes to the Financial Statements, you will unlock the key to being virtually present in every loan briefing.
Why should you Attend: The Owner's Guide to Understanding Financial Statements is designed for business owners who are ready to measure their Company's performance in order to grow to the next level.
The is a no-nonsense program presented by Richard Melancon, CPA., CGMA, CITP. The content is precise, but the accounting jargon is removed. This is not a bookkeeping course; it is designed for the business owner who wants to:
- Lead the company better,
- Understand what bankers look for in a loan application, and
- Learn how to delegate daily activities to Managers so that the Owner can focus on the long-term strategy.
You cannot grow your company alone. You have staff, you have a customer base, and you have a proven product. So quit wasting time doing what your employees were hired to do. Quit complaining that the market is shrinking. Stop blaming customers because they don't understand your value. This program will show you the fundamental scorecard of where your company is doing well and where your company must improve.
Once you know what to do, you can empower your staff to move your company forward. This is the role of the leader, and your financial statements measure your success, productivity, profitability, and market approval.
Areas Covered in the Session:
- The four parts of every financial statement package:
- Balance Sheet
- Income Statement
- Statement of Cash Flows
- Notes to the Financial Statements
- Questions about your financials that Bankers ask when review your loan application
- Key indicators that signal fraud and errors in your financial statements
- The two views of your business: Operational and Strategic, and how the financials measure your success today and lead you to greater success tomorrow
- The relationship between each the four parts of your financial statements and what you should review each month.
- The 15 minute approach to reading the financial statements. (If it takes longer, you have a major problem and it's time to call an expert.)
Who Will Benefit:
- This program is for business owners who want to lead their Company using the best tools available.
- This is not an accounting course, so you won't need your bookkeeper to interpret. Come eager to learn, and you will walk away with tools to implement – TODAY!
- If your Company has multiple profit centers that provide performance-based compensation, then department managers may find this information useful.
- If you are currently employed and plan to start your own business, this program in a no-brainer. SIGN UP TODAY!!!
Mr. Melancon started his accounting career with KPMG working for small and large companies to improve the efficiency of their processes, build internal controls to reduce theft and spoilage, and upgrade the information processing systems to improve the quality of decision-making data available to the owners.
Mr. Melancon has written three books, is a professional speaker, business consultant, and accountant. He holds three degrees (Management, Accounting, and the MBA). He holds the designation as Certified Information Technology Professional and Certified Global Management Accountant as well as the Certified Public Accountant license.
This unique experience allows Mr. Melancon to see many companies in many industries and to bring to you all of the best practices from multiple industries. There are many consultants in the marketplace. There are few who have the experience and insight that Mr. Melancon has developed to solve your challenges.