Module 1: Financial Foundations Recorded Training, Slide Deck, Reference Documents & Interactive Exercises
Module 1: Financial Foundations (Recorded Training Session)
- MODULE 1: Financial Foundations (PDF Slide Deck)
- Reference materials: Glossary of Financial Terms (PDF)
New to financial management and planning? You’ll make the most out of this cohort by familiarizing yourself with these terms and concepts which will use throughout this virtual training.
- Sneak Peak & Reference Material: Financial Ratios Cheat Sheet (PDF)
In Module 1, we introduced you to “Financial Ratios” and how to use them to review your monthly and annual financial reports (P &L statement). Module 2 will cover financial ratios in more depth. For now, familiarize yourself with this cheat sheet to learn about the different types of financial ratios and determine which will make the most since for your business.
- Sneak Peak & Exercise : Budget Builder Module (PDF)
After reviewing Module 1, you can start the first step of building your 2023 Annual and Monthly Budget. Tasks: 1) Download this document. 2) Fill out this document by listing your income and expenses. You’ll use this practice to start developing your Income and Expense Accounts in your COA. (Sidenote: If you have an existing list of Income and Expense Accounts in your COA, you can use this exercise to update your COA. This will help you ‘start fresh’ and create your ‘ideal’ Income and Expense Accounts.
- Sneak Peak & Exercise: Practice Organizing a Chart of Accounts (COA) (PDF)
This exercise will help you practice organizing different types of income and expense accounts under the correct ‘parent category’. This exercise will help you practice organizing your own chart of accounts.
- Step 2: Budget Builder (PDF)
Start Step 2 of your Budget Building by using this exercise to organize your list of income and expenses (from Step 1 of the Budget Building Process) into categorizes of “Parent Accounts” and “Sub-Accounts”. Tasks: 1) Download this document. 2) Update this document by organizing your list of income and expense accounts in Column D under the correct Parent (Column A) and Sub-Category Accounts (Column B).
- MODULE 1: Financial Foundations (PDF Slide Deck)
- Reference materials: Glossary of Financial Terms (PDF)
New to financial management and planning? You'll make the most out of this cohort by familiarizing yourself with these terms and concepts which will use throughout this virtual training.
- Sneak Peak & Reference Material: Financial Ratios Cheat Sheet (PDF)
In Module 1, we introduced you to "Financial Ratios" and how to use them to review your monthly and annual financial reports (P &L statement). Module 2 will cover financial ratios in more depth. For now, familiarize yourself with this cheat sheet to learn about the different types of financial ratios and determine which will make the most since for your business.
- Sneak Peak & Exercise : Budget Builder Module (PDF)
After reviewing Module 1, you can start the first step of building your 2023 Annual and Monthly Budget. Tasks: 1) Download this document. 2) Fill out this document by listing your income and expenses. You'll use this practice to start developing your Income and Expense Accounts in your COA. (Sidenote: If you have an existing list of Income and Expense Accounts in your COA, you can use this exercise to update your COA. This will help you 'start fresh' and create your 'ideal' Income and Expense Accounts.
- Sneak Peak & Exercise: Practice Organizing a Chart of Accounts (COA) (PDF)
This exercise will help you practice organizing different types of income and expense accounts under the correct 'parent category'. This exercise will help you practice organizing your own chart of accounts.
- Step 2: Budget Builder (PDF)
Start Step 2 of your Budget Building by using this exercise to organize your list of income and expenses (from Step 1 of the Budget Building Process) into categorizes of "Parent Accounts" and "Sub-Accounts". Tasks: 1) Download this document. 2) Update this document by organizing your list of income and expense accounts in Column D under the correct Parent (Column A) and Sub-Category Accounts (Column B).