Financial Analysis and Budgeting
Some business owners say “I’m not a numbers person.” However, if you own a business or plan to start one, you must have a certain familiarity with financial information in order to make decisions.
ASBTDC recommends that a business have a record keeping system that provides monthly income statements and balance sheets. As a business owner, you should review these statements at least monthly. It is critical that your record keeping system is accurate. Inaccurate or sloppy records are not helpful!
If you “aren’t a numbers person,” an ASBTDC business consultant can review your financial statements with you and help you understand them. In addition, we can help you determine how your business is performing compared to industry standards. The financial analysis available from ASBTDC is valuable information you can use to set your budget, maximize profits, and manage cash flow.
QuickBooks is a popular accounting software package used by many small businesses. The ASBTDC regularly offers QuickBooks seminars and other financial training. Check our training calendar for events near you.