Today, April 29th, RG Bud Phelps presented a PowerPoint program covering Practical Accounting for small businesses.
The presentation covered the need for the development of a Chart of Accounts that is meaningful for their particular business. By spending time in the development of the Chart of Accounts the owner/manager will gain more meaningful reports. This will allow them to utilize their financial statements as management statements rather than reports they look at once and put in a drawer. Having an understanding of the footprints developed in a company’s financial statements will give the owner/manger a leg up in understanding what is happening in the business, allowing for quicker response when problems do occur. The presentation was well attended and their participation and questions were meaningful; allowing for a more complete coverage of Practical Accounting.
Marisol Rodriquez, Lincoln Center Director of Nebraska Business Development Center, presented a short summary of nbdc & score’s functions and their goals to help individuals in small businesses through Business Plans, Marketing Research and plans, as well as the other topics to be presented in this 2011 Entrepreneurship Series. Marisol supplied the attendees the listing of the other presentations to be given over the balance of 2011. Marisol thanked the individuals for attending the workshop and also thanked me as the presenter of Practical Accounting for small businesses.