Company financials
Evolving Your Business
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| Module 1 | SMEEP | |
| Unit 1 | Overview about the program | |
| Unit 2 | Business Strategy | |
| Unit 3 | Innovative offer to increase sales | |
| Unit 4 | The online marketing campaign | |
| Unit 5 | Project Management | |
| Unit 6 | ICT setup | |
| Unit 7 | Company financials | |
| Unit 8 | Funding and Financing |
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In this unit, you will learn about the most important financial statements in any organization.
Financial statements help to manage your business by showing you where the money came from, where it went and where is it now, allowing you in turn to ensure that you have a healthy business.
The three most Important Financial Statements are:
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The Balance Sheet which highlights the assets – what you own, liabilities – what you owe, and capital – what is owed to owners. Assets = liabilities + capital.
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The Profit or Loss Statement – P&L for short – also called Income statement includes how much sales or revenue you made over the year less theexpenses.
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The Cash Flow statement includes in the Inflows and outflows of cash in the company. This document is updated on a monthly basis since you always need to ensure you have enough cash to pay for your expenses.
As the saying says – cash is king!
- Video: Cash Flow Managment: the Cash Conversion Cycle
- Article: Financial Planning Tips for Entrepreneurs
- Article: 5 Tips to Help Your Small Business Avoid Cash Flow Issues
- Suggested Course: 24-minute Accounting Course