Now entrepreneurs with little financial background can generate their own financial statments and analyses. No need to hire an accountant or bookeeper.
We find that financials are by far the most challenging aspect of establishing and operating a business. It's especially difficult for microenterprises in developing countries if they have never had business or financial training.
The EFinancials program is a three week intensive that focuses on setting up, analyzing, and tracking all-important financial figures such as sales, expenses, capital expenditures, loans, inventory, and more. It's made simple through our proprietary Lean Projections cloud-based software.
In three weekly remote sessions we show entrepreneurs how to enter data correctly, run reports, and analyze their finances. Lean Projections automatically generates an income statement, balance sheet, and cash flow statement with one click.
It's an easy way for SMEs to keep financial records and track profitability. And they can run "what if" scenarios to test the effects of sales and expense variables, for example, or the impact of borrowed money or equity investments.
Session 1 – Introduction to Lean Projections; entering sales data ( cash sales, accounts receivables, and collections) and expenses (cost of goods sold, inventory, direct, and indirect expenses)
Session 2 – Review/discussion of Session 1 numbers; entering accounts payable purchases and payments, tax payments, fixed asset purchases, depreciation, other revenues/expenses and assets/liabilities, short-and long-term debt, equity and capital contributions and dividend payments
Session 3 – Review/discussion of Session 2 numbers; how to run reports, analyze financial data, and generate financial documents