Once you have your data into your financial software, how do you use that data to make meaningful decisions. In this session, we will learn how we can pull data from your financial software to help make meaningful decisions relevant to small business owners.
This course works with this template:
Congratulations on taking the plunge to improve your business! This template can be used for analyzing your current financial statements or budgeted numbers for the upcoming or current year. 1)The template can help you understand:
- If you are growing as planned
- If your debt is out of control
- If you have enough cash to pay your taxes
- How much you should be paying yourself.
In addition there are sub budget templates, that can help you compute details for the following:
- Set personal goals: as a small business owner the budgeted financials starts with what you want personally.
- Projected revenue
- Budgeted administrative expenses
- Asset purchases and depreciation
- Budgeted labor cost
- Loan analysis
- Marketing plus business development budget
- Market pay for owner
- Personal net worth calculator
Analysis of the financial statements: Income Statement
Profits Versus Cash
The Balance Sheet
The Operating Cycle