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Understanding Financial Statements
Sat. 5 November 2016, 10:00 am – 1:00 pm AWST
Do you know that the money in the bank account isn’t the same thing as your profit? Can you tell the sustainability of an organisation by reading it's financial statements?
Let us answer these questions for you in the ‘Understanding Financial Statements’ workshop. It is a great course for people who do not necessarily have a strong financial background, but have a desire to learn.
You will be introduced to basic accounting concepts and shown how to make sense of a Profit and Loss Statement and a Balance Sheet. The information will be presented in an easy-to-understand, non-jargon way in an non-judgemental environment so bring all your questions along.
There will be two sessions to the workshop:-
The PROFIT & LOSS STATEMENT interactive workshop will teach you:-
- what a Profit and Loss Statement is
- expenses v capital expenditure
- profit vs cash (hint: this is a VERY big difference between the two)
- cash and non-cash items
- considerations when reviewing the Profit and Loss Statement
The BALANCE SHEET interactive workshop will teach you:-
- what a Balance Sheet is
- how to calculate the Equity of your business
- basic financial ratios
- how to tell if your business can actually afford its debts
- things to consider when reviewing the balance sheet
The CASHFLOW STATEMENT interactive workshop will teach you:-
- the difference between a budget and a forecast
- how to improve your cashflow
- how to create a forecast
Attendees will also be provided with a checklist of critical questions to ask when reviewing both financial statements.
Grace Mugabe (CPA) is an experienced management accountant who is passionate about the economic empowerment of women. Following her tenure as a Senior Site Accountant at Rio Tinto, she developed a boutique consultancy with aim of providing financial literacy tools for female entrepreneurs. Her consultancy continues to attract government,not for profit, private industry and community clients.
She also enjoys working with businesses on a consultative basis. Grace chairs the Audit and Finance Committee at the Ishar Multicultural Women’s Health Centre as well as serving on the Advisory Board of 100 Women.
In 2015, Grace was a finalist in the Volunteer of the Year Awards (Belmont Small Business Awards) and was awarded an Australian Government scholarship to undertake the highly regarded Australian Institute of Company Directors (AICD) course. She is an alumni of the LEAP Leadership Program at the University of California, Los Angeles (UCLA).