Course Name: AB011-Introduction to Budgets and Financial Statements 

This course is meant to be an introduction to (not a comprehensive understanding of) different types of financial statements and budgets (budgets will be covered in greater detail in AB012). Understanding financial statements can benefit business owners by helping them determine whether or not the business or enterprise is performing as expected. When discussing budgets, help participants understand that budgets are a way of managing resources to maximize profits. The budgeting worksheets used in this module are meant to guide participants through the steps of building their own enterprise budgets and incorporating all production costs. Future entrepreneurs should be as accurate as possible with their revenue and expenses, and understand that it is easier to make adjustments on paper now, rather than when their businesses are operational. The cash flow worksheets help visualize when expenses are incurred and when revenue is generated. The excel version of the worksheet can be a helpful tool to use as an in-class example, and the long-term cash flow worksheet can help your participants compare different cash flow scenarios and see whether they will run a deficit or a surplus. 1. Types of budgets 2. Cash flows 3. Types of financial statements 4. Important ratios 5. Why it is important to keep records Questions? Contact Trent Teegerstrom at tteegers@ag.arizona.edu.