BDO Masterclass: Know Your Numbers

There is a direct correlation between financial literacy and business success. Your level of financial literacy affects the speed and success of your growth plans. It affects your ability to borrow money for growth and your relationship with financial lenders and investors. Understanding your numbers will ensure you are aware of the financial impact of every business decision you make.

Empower yourself with the knowledge of how to read key financial reports and become a business owner who uses their knowledge of numbers to make better business decisions.

• Can you explain the difference between gross profit and net profit?
• Are you clear on which expenses should be allocated to cost of goods sold?
• Can you explain the relationship between your Profit and Loss and Balance Sheet?

This masterclass suits anyone looking to improve their financial literacy and gain a deeper understanding of accounting principles and financial reports.

Key takeaways from this workshop include:

• Determine your current level of financial literacy
• Identify financial challenges and discuss strategies to overcome them
• Understand the structure of a Profit and Loss Statement
• Identify Cost of Goods Sold to ensure your Gross Profit is correct
• Discuss the three report layouts every business owner needs
• Understand the structure of a Balance Sheet

PRESENTER

About Craig Mitchell, Partner, Business Services at BDO

Craig is a Business Services Partner and a Financial Educator for the Business Growth Program at BDO in Brisbane. Craig develops close working relationships with business owners and managers to help them manage and grow their businesses.

Craig provides taxation and business advice to clients, including family-owned and operated businesses, entrepreneurs, and high net worth individuals. He is an experienced adviser to businesses in the Real Estate & Construction sector, with a particular interest in construction business and QBCC compliance matters.

As a Financial Educator, Craig leads the delivery of our 12-month financial education and Business Growth Program in Brisbane. This program has a strong foundation in financial literacy, and it provides business leaders with a strategic framework for business and personal growth. Craig is dedicated to empowering business owners by improving their financial literacy to make informed strategic decisions to grow their business.

Craig joined BDO in 2015 after gaining experience as an accountant and advisor in a boutique accounting firm and a listed professional services firm.

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