Understanding Your Financial Reports

Financial Statements Webinar Series

Your bank account isn’t the only way to see how your business is doing. Learn how to read your financial statements and have a meaningful dialogue with your accountant and bookkeeper. Sign-up for the series and start understanding your financial reports.

Our Education Series Webinars are provided at no cost to all businesses based in the Columbia Basin Region (View Map). This investment in your business is provided by the Basin Business Advisors and funded by the Columbia Basin Trust.

Session 1: Understanding the Basics of Financial Statements

Next Session: Thursday, July 7 (11:00 AM – 12:30 PM PST/ 12:00 – 1:30 PM MST)

Hosted by: Danny Turner

Financial Statements can tell you everything you need to know about your business – but first, you have to learn how to read them. In this webinar, learn:

  • The difference between Internal versus External Statements
  • The three types of accountant prepared year-ends
  • The five basic financial reports
  • How to read the “Notes”
  • Is your bookkeeper your accountant?

Session 2: Reading your Financial Reports – from Profit and Loss to Cashflow Statements

Next Session: Thursday, July 14 (11:00 AM – 12:30 PM PST/ 12:00 – 1:30 PM MST)

Hosted by: Danny Turner

There are five basic reports every business owner should have. In this webinar, learn all about:

  • Understanding your cashflow – income and cash flow statements
  • Understanding your financial health – balance sheet and aging reports
  • Seeing who you owe and who owes you
  • Deciding who in your business owns what reports
  • Why cash flow can be more important than profit

Session 3: Using your Financial Statements to Manage your Business

Next Session: Thursday, July 21 (11:00 AM – 12:30 PM PST/ 12:00 – 1:30 PM MST)

Hosted by: Danny Turner

Do you check your bank account to see how your business is doing? It may not be giving you the full picture. This webinar covers:

  • Why it’s important to look beyond cash in the bank
  • What your financial reports can tell you about the future
  • Where you can find expenses versus investments and why it matters
  • How you can use your Financial Statements to make decisions about your business
  • How to have a meaningful conversation with your accountant every month

Session 4: The Six Ratios that can tell you Everything

Next Session: Thursday, July 28 (11:00 AM – 12:30 PM PST/ 12:00 – 1:30 PM MST)

Hosted by: Danny Turner

Raw numbers on a page won’t give you the full story. Financial Ratios are the best way to understand your financial reports and analyze your business over time. In this webinar, learn:

  • What Gross Profit tells you about your business
  • The importance of using volume and units to analyze the performance
  • What “leverage” means and why debt can be a good thing
  • How to tell if you are getting paid fast enough, or paying your suppliers too quickly
  • The definition of a “zombie” company and how to avoid becoming the walking dead