Understanding Business Financials

Please note: this event is run by the Small Business Development Corporation for small business owners in Western Australia only.

It is essential to be able to understand the financial health of your business, without relying solely on your accountant. 

This workshop will show you how to develop ‘snapshot’ measures (key performance indicators) of your business progress to make sure it stays on track. It will also provide you with a good understanding of your financial essentials so that you will know the right questions to ask your accountant.

This topic covers:

• How to read a profit and loss statement;
• Knowing the difference between margin and mark-up; 
• Understanding a balance sheet; 
• Tracking key performance indicators; 
• Knowing your net cash position; 
• The importance of managing cash flow. 

You'll receive a practical workbook, and there will be an opportunity to ask questions.

It's recommended that you have a calculator with you for this workshop.

This session is for people with little or no understanding of business financials. It will also be useful for business owners who want to be better equipped to spot financial problems or areas of concern.

This workshop is presented by the Small Business Development Corporation, a Western Australian Government agency that helps small business owners to start well, survive and thrive. We offer free resources, business advice and low cost workshops covering what you need to know to boost your chance of business success. Turn to us for free, practical support to help your small business journey run smoothly.

Important booking information

Got a query? Check our Workshop Frequently Asked Questions or get in touch with us at workshops@smallbusiness.wa.gov.au. 

Bookings are limited to two tickets each, however you can make more than one booking. If you are booking for more than one person, please provide each person's email address so they receive our emails with important links and downloads.

To book for larger groups, please contact us on 133 140 or email workshops@smallbusiness.wa.gov.au

If you cannot attend, please cancel so your place can be made available to another business owner. You can cancel your booking from the update order button on your order confirmation email. Cancellations and refunds for paid workshops can be made up to 24 hours before the workshop starts.

Additional information for workshops

We are committed to supporting all WA small business owners, including those with diverse needs. Our workshops are delivered in a variety of buildings, locations and formats. If you would like further information about accessing a particular workshop, please email workshops@smallbusiness.wa.gov.au or call 133 140.