Understanding Financial Statements

Cash flow can be the hardest stepping stone to run a business. Ask a successful business owner how they manage, and they will tell you, by monitoring their finances regularly. We hear from struggling business owner concerns over where the money goes as they grow their business. They watch their cash flow dwindle as work increases. They need to find where the bucket is leaking.

Monitoring your financial statements is a great way to identify where the money is going. It will identify expenses that drain your revenue with growth. Overspending areas that can be addressed through changing buying habits. However, it only helps if you understand what the numbers on those statements are telling you. Do you? Your accountant knows. Melanie Boyd will help answer some of the questions facing all small business owners.

Learning Objectives:

• How financial statements are prepared
• How to interpret the data
• How to use the data to improve business operations

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Presenter: Melanie Boyd:

• Chair; Business and Technology, Gulf Coast State College
• Education Specialist (EdS) Curriculum and Instruction University West Florida
• Graduate Certificate Human Performance Technology University West Florida
• Master of Business Administration, Florida State University
• Boyd Construction Specialties, Inc. — Bookkeeper/Finance Officer