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Getting Your Numbers Right
You'll get 4 MP3 and 1 PPTX
As an Accountant and a Business Mentor I know and understand how getting the numbers right in your business is so key.
We have designed this course to help you not only understand the practical, but the spiritual behind the numbers.
Apart from the audio there is a powerpoint that you can work through as well which has the practical information we refer to on there.
Here's an outline of what each session covers:
Session 1 - Laying the foundations
What is your purpose for being in business?
What are the functions of a business?
Are these different when you are a Christian vs a non-Christian in business?
During this session we will look at the fact that your main purposes for being in business is to bring glory to God. It is the same purpose as anyone no matter whether they are in business or not.
As a Christian your business function will also be very different.
Above all it is not about you being better than a non-Christian person who is in person but being different than.
Session 2 Basic Accounting Concepts
During this session we will look at the historical development of the double-entry bookkeeping system, accounting assumptions, common financial tasks, accounting systems and different types of legal structures.
NB: The legal structures we are referring to are relevant for the Australian system for your country you need to investigate what would suit you within your own nation.
Session 3 Financial Statements
There are three key financial statements that you as the business owner need to become aware of.
1. Profit and Loss
2. Balance Sheet
3. Cash Flow Statement
During this video we will look at each one of these and what the key formulas are for creating them and what to look for when you are looking at the numbers.
Session 4 Practicalities
After having looked at the different financial statements, during this lesson we will look at two different practical financial exercises.
The first is the break even point. This allows you to work out how many products do you need to sell to break even or where your income = your expenses. We don't aim for break-even we aim for profit so we use this tool to work out how many products do we need to sell to make the profit that we would like to make.
The second pratical exercise is the business chassis calculation. This allows us to go further and breaks down the key components in how to make a profit. We have uploaded a spreadsheet for you to use to work out your own numbers.