The ‘Finanace’workshop is to help you gain valuable knowledge and skills to assist you with your financial management.
Financial management is about planning your business income and expenditure. It is also very important to make sound decisions that will enable you to survive financially in business. Financial management needs to be a key priority to help you plan for the future success of your business.
At a bare minimum, there are three basic financial reports that all business owners need to prepare, understand and interpret in order to manage their business successfully:
- ✓Balance Sheet
- ✓Profit and Loss statement
- ✓Cash flow forecast
Best practice financial management involves planning and forecasting financials based on the strategic goals of your business and regularly monitoring your financial statements to review business performance.
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