Financial Literacy for Small Businesses

Can you interpret what your financial reports are telling you about the sustainability of your business?  Do you know that money in the bank account is not the same thing as profit?

There will be two sessions to the workshop:

1. The PROFIT & LOSS STATEMENT

• what a Profit and Loss Statement is
• expenses v capital expenditure
• profit v cash (hint: there is a VERY big difference between the two)
• cash and non-cash items
• considerations when reviewing the Profit and Loss Statement

2. The BALANCE SHEET

• what a Balance Sheet is
• calculate the net worth of your business
• how to tell if your business can actually afford its debts
• considerations when reviewing the balance sheet.

Attendees will be provided with a checklist of critical questions to ask when reviewing both financial statements.

About the Presenter

Grace Mugabe (CPA) is an experienced management accountant who is passionate about the economic empowerment of women.  Following her recent tenure as a Senior Site Accountant at Rio Tinto, she developed a boutique consultancy with the aim of providing financial literacy tools.  Her consultancy, Financially Empowered, continues to attract government, private industry and community organisations.