Friday, July 15th class, was really a lot of fun. I had warned the individuals in the class about the possibility that accounting classes can cause eyes to roll back, but to my joy the attendees actually appeared to be enjoying the class. We had an opportunity to really dig into the “Footprints” available to managers of small businesses within their Financial Statements.
When I illustrated how important each of the statements would be for them in really understanding the economic history about their company. The Balance Sheet footprints, showing how a snapshot in time compared to another snapshot of the company a year later will indicated economic progress or failures – giving them an opportunity to do something about it.
When we reviewed how important the individual grouping of accounts on the Income Statement you could really see the light bulbs appearing over the attendees heads (well at least the sparkle in their eyes). Showing how important it is to see how the Cost of Goods items relate to the Revenue (Sales); as well as how important it is to understand the percentages the Operating Expenses, Selling Expenses, and Administrative Expenses were relative to the Total Income; gave them, as one of the attendees stated, an eagerness to get back to their office to make meaningful changes of their own Chart of Accounts.
As I have already stated, it is a joy to me as an instructor to see understanding on the faces of individuals attending your class. It’s like making a good golf shot – it makes you want to come back and do it again. Now, I’m looking forward to teaching this same class at Southeast Community College in the FALL Quarter 2011 – make sure you pick up your Continuing Education Class Schedule to see when the class will be given.