Are you one of the many people whose eyes just slide off the page as soon as you see numbers? But what if those numbers hold the key to your business’s success, or could point you towards the reason why you’re not doing as well as you think you should?Cracking the code isn’t for the faint-hearted, especially if you have no accounting background and aren’t sure what all those figures mean. What is “Cost of Sales” and why is it so high? Why does your Gross Profit look great while your Net Profit languishes? What are your Fixed Costs and is there any way to reduce them?
Without an understanding of accounting terminology, it’s hard to know what all those figures really mean and what, if anything, you should do about them!
Now. Xcel accounting is ready to help you with the information you need to understand your books. Armed with this knowledge, you’ll acquire the business savvy you need to strategize effectively. You might think your business is there to make food – but in truth, it’s there to make money!
Who Should Attend?
Our specialized course specifically targets business owners. If anyone else helps you with your financial decision-making, bring them along.
What is Covered?
Getting your financials down isn’t just something you should do to meet regulatory requirements. Tracking your business’s financial records and thinking analytically about practical ways to improve your company’s financial performance begins with understanding your financial accounts.
In this course, we help you to:
- Get on top of terminology
- Know how to read and understand your financial statements
- Spot vital indicators that could help you to strategize operations
- Read and analyse your balance sheet
- Know which figures fall into the different categories that make up balance sheet items
- Discover how to estimate and evaluate your cash-flow requirements
- Identify trends you need to spot. For example: if profit margin is falling while turnover rises, it may be time for an urgent rethink.
- Know what records you should keep
- Overview of the UAE VAT Environment
Benefits of Attending
Actionable information might be hard to extract from many workshops, but not this one. Once you understand accounting basics, you’ll be ready to be more than just a restaurateur– you’ll have the knowledge you need to be an entrepreneur of the first order.
Sure, you won’t be an accountant after just one workshop, but when your accountant presents the figures, you’ll know which questions to ask to fully understand your business’s financial position.
You’ll know which figures you should worry about and which ones are cause for celebration, and you’ll have the knowledge you need to know which operational areas should be getting your attention. After all, operations either make you money or cost you money. You want to do more of the former and less of the latter.
Xcel Accounting is offering you a golden opportunity. Grab it with both hands. Understanding your business’s books is the key to success in business. Unlock your true potential, book an information session today!
