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Family Business Finance & Scaling
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Module 1
Foundations of Financial Accounting
1
Understanding the Accounting Equation
Explain the accounting equation (Assets = Liabilities + Equity) and its significance.
2
Double-Entry Bookkeeping for Food Businesses
Apply double-entry bookkeeping to record common food business transactions (sales, purchases, payroll).
3
Accrual vs. Cash Accounting
Distinguish between accrual-based and cash-based accounting methods.
4
Understanding the Income Statement
Read and interpret an income statement (revenue, COGS, gross profit, operating expenses, net income).
5
Understanding the Balance Sheet
Read and interpret a balance sheet (assets, liabilities, equity).
6
Understanding Cash Flow Statements
Read and interpret a cash flow statement (operating, investing, financing activities).
7
Connecting the Big 3: Understanding Financial Statement Relationships
Explain the relationships between the three core financial statements.
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