Understand My Numbers Online Course
This online financial education course is designed to improve your financial literacy. You will learn how to interpret your financial reports, understand key financial concepts and build a business budget for the next 12 months
Understand My Numbers is a self paced, online financial education course, designed to enhance the financial literacy of small business owners. There are 10 lessons in this course including reading material, activities and videos. It should take about one hour to complete each lesson. All participants are invited into our closed Facebook Group for support and encouragement.
This course is for business owners who would like to:
- have meaningful conversations about your business financials
- learn how to read your financial reports (P&L and Balance Sheet)
- wrap your head around calculating financial ratios\
- prepare revenue targets to achieve a business profit
- build a 12 month budget for your business
In a nutshell, what will I learn?
- to understand financial terminology (so you can have meaningful conversation with your bookkeeper, accountant or bank manager)
- the different parts of a Profit & Loss and Balance Sheet, what each section means and how to restructure these financial reports (so they make sense to you)
- how to calculate key financial ratios (like gross profit and net profit) and how these percentages help you track how healthy your business is
- how to build a financial roadmap (aka a budget) from the bottom up which starts with calculating how much profit you want to make, factors in a salary for you, to determine your topline revenue goal.
What does Understand My Numbers look like inside?
What will I learn in each lesson?
1. Profit and Loss
We explain common financial and business terminology, review the structure of a Profit and Loss Statements and learn how to customise a P&L so you can see how your business is tracking.
2. Balance Sheet
Understand the different parts of a Balance Sheet and learn how to customise assets and liabilities so your Balance Sheet makes sense for your business.
3. Financial Ratios
Calculate key Financial Ratios like Gross Profit Margins, Current Ratio, Debtor and Creditor Days so you recognise trends and possible areas of concern in your numbers.
4. Power of One
Discover the power of one percent changes and the dramatic impact this will have on your business. Learn how to calculate the change this can make to your bottom line.
5. Deep Dive into Expenses
We start the process of building a budget (from the bottom up). First step is to calculate your desired profit, then review operating expenses before calculating your top line revenue.
6. Budget Bottom Up
Take the time to review your expenses over the past 12 months and plan for any future expenditure. Look for cost savings and months that are loaded with expenses.
7. Revenue Model
Break your revenue into different revenue streams and calculate the number of products or service packages you need to sell each month to achieve your revenue target.
8. Capacity Planning
Do you have enough staff (or too many) to achieve your revenue target? Review available hours to deliver your service, set productivity target to calculate revenue capacity.
9. Business Budget
Construct your budget for the next 12 months, factoring all the information you’ve calculated in previous lessons. Learn how to entry your budget into your accounting software.
We assess your financial literacy after the 10 lessons and compare your results to the quiz in the course introduction. Share your success in our Facebook Group.
Test your Financial Literacy
This quiz is designed for women in business and tests your understanding of financial terms, reports, cashflow and key financial drivers in a small business.
When you have a clear understanding of your business’ real financial position it’s easy to make the right strategic decision. We see this time and time again in our financial education workshops. When women use numbers to drive strategy – amazing things happen.
Acceler8 Program has received a Queensland State Government Grant from their Advancing Women in Business Initiative. With this funding, we are offering FREE Financial Education Workshops for female business owners throughout Queensland.
Women who attend these workshops will also receive a discount on the cost of our online financial education course Understand My Numbers. This will reduce the cost of this self-paced financial literacy program from $395 to $265. You must attend the workshops to receive this discount code.
When you have a clear understand of your business’ real financial position it’s easy to make the right strategic decision. We see this time and time again in our financial education workshops. When women use numbers to drive strategy – amazing things happen.
Build a budget for your business
The ultimate goal of this course is to build a realistic budget for your business. We start by determining the profit you want to make, lock in your expenses (and ensure you pay yourself a proper salary) then calculate the revenue required to support your financial strategy.
Understand your financial reports
So many business owners don’t look at their Profit and Loss or Balance Sheet. This course will explain the structure of each report and how to interpret the information. You’ll also learn how to customise your report layouts so they are more meaningful to your business.
Improve your financial literacy
This course explains key financial concepts and how to apply them to your business. You’ll learn how to calculate financial ratios to better track your business’ financial health. You’ll also learn financial terminology so you can have more meaningful conversations with your accountant or bookkeeper.