Understanding your financials and how to use the information they contain is critical for all business owners and managers.
The resources below can assist you through beginning the process. You are encouraged to contact a North Idaho SBDC coach to assist you in gaining the knowledge and experience you need to use this critical information, and to better manage your business. Contact a coach today!
Cash versus Accrual Accounting – Khan Academy
Just keeping track of cash that goes in and out of a business doesn’t always reflect what’s going on. This tutorial compares cash and accrual accounting. This is very valuable if you ever plan on starting or investing in any type of business (you might also discover a nascent passion for accounting)!
Three Core Financial Statements – Khan Academy
Corporations use three financial statements to report what’s going on: balance sheets, cash flow statements and income statements. They can be derived from each other and each give a valuable lens on the operations and condition of a business. After you know the basics of accrual accounting (available in another tutorial), this tutorial will give you tools you need to responsibly understand any business.
Depreciation and Amortization – Khan Academy
How do you account for things that get “used up” or a cost that should be spread over time. This tutorial has your answer. Depreciation and amortization might sound fancy, but you’ll hopefully find them to be quite understandable.
Cash Flow Calculator – Find out what effect your company’s sales, inventory, credit terms, and other variables have on cash flow.
Can you afford to start? – Free online business workshop offered by SCORE. In just a few minutes you can get a clear idea of how much money you will need to get started, determine how much money you can make, and gain access to useful templates to calculate your specific spending requirements.
Resource Wizard – Creates a customized checklist of programs that help business owners locate resources in their geographic area.
Small Business Loans – The SBA offers several loan and grant programs for small businesses.
AnnualCreditReport.com – The only authorized source for obtaining your annual free credit report. Information in your credit report is used to evaluate your applications for lines of credit. The Federal Trade Commission recommends that you check your credit at least once a year to correct errors and detect unauthorized activity.
Idaho Prime Loan Program – A cooperative effort between the Idaho State Treasurer, the Small Business Administration, and the banking community helping to make capital available to all small businesses throughout the state of Idaho.
Boise Angel Alliance – Links investors seeking to invest in high growth potential early stage Idaho companies with entrepreneurs seeking investment capital.
Keiretsu Forum – An investment community of accredited equity investors, venture capitalists, and corporate investors.
Accounting Coach – Helping you learn accounting.
Accounting tutorials – Quick MBA: Knowledge to power your business.
Quickbooks by Intuit – Accounting software.
WorkingPoint – Small business accounting and online invoicing software.