Note: The UW-Madison SBDC traditionally offers a more comprehensive financial management course in the fall semester. If you have some familiarity with financial records but need to better understand financial analysis/management, that course may be right for you.
Accounting is the language of business. Being conversant in this language means you have a better ability to proactively plan where your business is going and to work effectively with your accountant, bookkeeper, lenders, and other members of your entrepreneurial advisory team. We consider business financial education to take place along a spectrum of learning – starting with recordkeeping/bookkeeping (accurately tracking your financial transactions), progressing to accounting (understanding how to read “the numbers,” interpret financial statements, identify trends, etc.), and culminating in financial management (taking an active role in the future planning of the direction of your business). This course focuses primarily on bookkeeping and the fundamentals of accounting.
Not sure which financial class is right for you? Check out our Financial Management – Sprint! vs. Financial Management Series page for a comparison of each.
Whether you are starting a new business or looking to organize your current business’ finances, accurate financial information is one of the most valuable tools you have to drive success. This course seeks to set participants on the right path by providing a “101” overview of financial bookkeeping, accounting terminology and concepts, a breakdown of the key financial statements, and a brief introduction to financial management.
This class is designed for participants who:
- Are new to financial concepts and who do not have an accounting background.
- Would benefit from breaking down the components of each of the “Big 3” financial statements – the Profit & Loss (Income) Statement, the Balance Sheet, and the Statement of Cash Flow
- Are unsure how to organize financial information to ensure accurate records
- Have already built a business plan (formal or informal), and can answer basic information about their revenue streams (how you make money), pricing, costs, etc. Haven’t nailed down these details yet? Consider taking Biz Smart Sprint or the Entrepreneurial Training Program
- May be uncomfortable with “the numbers side” of the business and are looking to increase familiarity
- Are looking for an introduction to key financial tools and concepts, or those who are looking to revisit these topics
- Have recently taken on financial support roles in their business, or who need a general understanding of accounting to be successful in their roles
- May work with a professional accountant, but want to maximize that investment by knowing the basics and being able to focus on strategy
- Establishing a good organizational system and clear accounting processes
- Develop a basic understanding of accounting terminology and concepts
- Understand the key components of the “Big Three” financial statements – balance sheet, income statement, and cash flow statement
- Learn more about the impact of breakeven on the bottom line
This course does not:
- Teach specific recordkeeping tools or software
- Provide personalized financial advice
- Discuss tax planning – tax laws are complex, highly individualized, and change regularly; seek the advice of an accounting tax professional
- Session 1 – Class introduction, recordkeeping, establishing strong accounting practices
- Session 2 – Financial statements (overview) and the income statement
- Session 3 – Balance sheet
- Session 4 – Cash flow and the cash flow statement
- Session 5 – A beginner’s guide to financial management
Location: Online, Live virtual sessions via Zoom. Course link will be sent out shortly before the first session.
Schedule: Sessions from 4:00-5:30 pm each date
- Monday, April 24, 2023 from 4:00-5:30 pm CST
- Monday, May 1, 2023 from 4:00-5:30 pm CST
- Monday, May 8, 2023 from 4:00-5:30 pm CST
- Monday, May 15, 2023 from 4:00-5:30 pm CST
- Monday, May 22, 2023 from 4:00-5:30 pm CST
Register online now! or call 608-262-2451 to register. BONUS: Place 2 or more paid courses in your cart, and use discount code SBDC10 for 10% off. Classes must be purchased in the same transaction. Participants must attend all 5 sessions.
Registration policy: Payment will be required at time of registration. You must have either a credit card or valid UW-Madison funding string to be able to register.
Cancellation policy: If you cancel before the program begins, there is a $25 cancellation fee. If you cancel after the program begins you will be charged for the full program fee. To cancel, call registration at 608-262-3909.
Disability Statement: Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact the UW-Madison SBDC office at firstname.lastname@example.org to request accommodations.
[I appreciated] getting a handle on some of the main terms that I need to really understand, such as reading a Balance Sheet and Profit and Loss [statement]... [I also] really loved that [the class] was recorded. The time didn't work for me, but I loved that I could watch it later.Tara Williams, Pronto Spanish Services, 2022 participant
Meet the Instructor: Kayta Gruneberg
Kayta received her Bachelor of Business Administration in Accounting and Master of Accountancy from UW-Madison. Upon graduation she worked as a Postgraduate Technical Assistant at the Governmental Accounting Standards Board (GASB) in Norwalk, CT where she focused on drafting technical accounting memorandum pertaining to state and local government accounting standards. She then worked for Deloitte in their Mergers and Acquisitions group assisting clients with financial due diligence for both buy side and sell side transactions. She primarily worked with mid-sized private equity firms who focused on SAAS (software as a service) acquisitions. She recently started a new position as the Finance Manager at a Richmond, VA based nonprofit, ChildSavers, that provides trauma-informed mental health and child development services to children in Virginia.
The Wisconsin SBDC Network is a proud part of the Institute for Business & Entrepreneurship in the University of Wisconsin System.
It is funded in part through a Cooperative Agreement with the U.S. Small Business Administration.
Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact us at email@example.com or call (608) 263-2221.