Financial management

In this module you’ll explore:

• Building a profit and loss statement for your business
• How to calculate gross and net profit margins
• What other financial metrics you need to track within your business
• Top tips for managing your finances

Start by downloading and saving the workbook (PDF 4.3MB) to your computer, to use throughout the module, capturing any key takeaways and completing the exercises at the end of each chapter.

In the first chapter we’ll take a closer look at a profit and loss statement, bringing together revenue and costs to understand the viability of your business.

Even if you aren’t trading yet or already have a profit and loss statement in place, take the time to go through the process anyway to challenge your existing business model, revenues streams and costs and see if you can make any improvements.

Following on from the last chapter, we are now going to look at the overall profitability of your business and individual product and service lines, using gross and net profit margin equations.

We’ll also hear from some entrepreneurs about how they monitor the profitability of their businesses and what other key financial metrics they also track.

In this chapter, we’re going to hear some top tips from entrepreneurs on how they manage their finances.

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