Cuyahoga Community College
ZPDI2718 - Mastering Basic Accounting for Better Business Finance
8723573
Delivery Options
In Class/In Person
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Course Description
Understanding and managing business finances is crucial for every entrepreneur’s success. This two-week course equips small business owners with fundamental accounting and financial management skills. Participants will learn key financial concepts, including basic accounting terms, financial statements, cost accounting, pricing strategies, budgeting and cash flow management. Through interactive discussions, real-world examples and hands-on exercises, students will gain the confidence to make informed financial decisions, price their products for profitability, and create sustainable financial plans for their businesses.
Learner Outcomes
Upon completion, entrepreneurs will be able to:
- Understand Basic Accounting Concepts
- Define and apply essential accounting terms such as revenue, expenses, profit, assets, liabilities and equity
- Recognize the importance of financial literacy for business success
- Analyze and Interpret Financial Statements
- Identify and understand the components of the income statement, balance sheet and cash flow statement
- Prepare and analyze basic financial statements
- Apply Cost Accounting Principles
- Differentiate between fixed, variable, direct and indirect costs
- Calculate the contribution margin and break-even point for their business
- Develop Effective Pricing Strategies
- Implement pricing strategies such as cost-plus pricing, value-based pricing and competitive pricing
- Evaluate the impact of pricing on profitability and sustainability
- Manage Business Finances and Cash Flow
- Create and maintain a business budget
- Implement cash flow management strategies to ensure business stability
- Plan for taxes, emergencies and business growth
- Make Informed Financial Decisions
- Identify key financial indicators for business health
- Use financial data to set goals and plan for long-term success
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