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Understanding Your Financials

EdgeWorx
Chicago, IL

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Whether you work with an accountant or not, this workshop will help you get a better understanding of your business's financial health.

Guest presenters from Caramagno & Associates and The A.C.T. Group will lead a workshop geared toward business owners to help demystify finances.

Coffee and refreshments will be served.

Agenda:

9:00 9:15 am: Registration and coffee/light breakfast
9:15 10:15 am: Session A
10:15 10:35 am: Break, networking, chatting with presenters
10:35 11:35 am: Session B
11:35 Noon: Networking, chatting with presenters

SESSION A -- INTRODUCTION TO BUSINESS FINANCIALS

Audience: Geared toward those who don't use a bookkeeper or an accountant regularly

Objective: To understand basic ideas behind keeping financials. Learn small steps to make a business' financial record keeping better.

Questions to be addressed:

- What are the components of a financial statement?

- What are important financial considerations when keeping your own books (either through your bank account or in a software program)?

- What are possible tax implications to consider what kinds of things typically come up for a business owner?

- What are daily procedures you can implement to keep your records up to date?

- If you do want to hire a bookkeeper or accountant, how do you pick one?

SESSION B - YEAR ROUND FINANCIAL PLANNING FOR YOUR BUSINESS

Audience: Business owners who likely use a bookkeeper or accountant, but don't have regular communication with them or don't use them to their full advantage

Objective: Learn how to better utilize your bookkeeper and accountant to increase your profitability

Questions to be addressed:

- How can an accountant help you achieve your business goals?

- Why is it important to have a business plan?

- How can an accountant help you develop and track your business plan?

- What kinds of reports should you be asking for from an accountant?

- How do you read those reports?

- What questions should you be asking your accountant?