Financial Learning Pathway

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Welcome to the Financial Learning Pathway (Spring 2024)! Please watch this introduction video to learn more about the course format, content and expectations. In this video, you will also learn about the 1:1 advisement you are entitled to as part of your registration.

Note that this course cannot be repeated, so please ensure this is the right time for you to take this course. You will need to dedicate 1.5-3 hours each week to attending bi-weekly working groups and preparing for these working groups.

Session 1: Pre-Requisite for Working Group 1

Please watch Session 1 (all six modules): Annual Profit and Loss (P&L) Statement; Trailing Twelve Month (TTM) P&L, and complete the enclosed homework assignment. This will prepare you for the upcoming live, online Working Group session happening May 2. Allow yourself 1.5-3 hours to prepare for the upcoming Working Group session.

We all know that the Annual Profit and Loss (P&L) Statement is helpful in reporting taxable income for the government. But does it give us enough information to manage a business effectively?

Adjusting financial reporting processes can optimize a business. In this session, we explore:

- Adding detail to a profit and loss statement for better business management overall

- Increasing frequency of financial reporting for access to relevant, up-to-date information throughout the year

Session 2: Pre-Requisite for Working Group 2

Please watch Session 2 (all four modules): Chart of Accounts (COA), Cost of Goods Sold (COGS) and Gross Margin (GM), and complete the enclosed homework assignment. This will prepare you for the upcoming live, online Working Group session happening May 16. Allow yourself 1.5-3 hours to prepare for the upcoming Working Group session.

A detailed Chart of Accounts (COA) allows tracking where money comes in and goes out within a given reporting period. Cost of Goods Sold (COGS) and Gross Margin (GM) are crucial in financial reporting.

In this session, we explore:

- What is COGS, and why is it important to include it in a P & L statement?

- Why is Gross Margin one of the most important numbers on a P & L statement?

- How and why do we lay out revenue centres to correlate with COGS?

- How do we lay out Point of Sale (POS) for the Chart of Accounts (COA)?

Financial Learning Pathway

Welcome to the Financial Learning Pathway (Spring 2024)! Please watch this introduction video to learn more about the course format, content and expectations. In this video, you will also learn about the 1:1 advisement you are entitled to as part of your registration.

Session 1: Pre-Requisite for Working Group 1

Session 2: Pre-Requisite for Working Group 2

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