Tuesday, December 15, 2020 at 1:00 PM CST
Wednesday, December 16, 2020 at 2:30 PM CST

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This is an online event. 



Merly Thomas 
Industrial Council of Nearwest Chicago 

Presented by the Illinois SBDC ITC at ICNC


Accounting Basics for Entrepreneurs

2-Part Series

This class will help you feel comfortable talking with your accountants, bank, investors about what your accounting records reflect about your business, or a business you may want to invest in. Accounting is simple concepts wrapped in complicated language. We will break things down into easy to understand examples so that you can read your P&L and Balance Sheet with clarity. 


This program will have 2 webinars that will help companies to understand the basics of accounting including understanding an income statement, a balance sheet, breakdown of assets and liabilities and simplifying the language of accounting.


Part 1 on December 15th from 1:00-2:30 PM:

  • Fundamental building blocks in simple terms and how those building blocks move around to affect your business
  • Book versus real life cash profit / loss - why are they different?
  • Examples of basic business events translated into accounting language


Part 2 on December 16th from 1:00-2:30 PM:

  • Banks, investors, management, etc.- how do different stake holders view accounting records
  • It's a zero sum system - use that to identify problems or fraud
  • Lets talk tax and legal - what you need to know about record keeping



Kimberly Kirkendall, President, International Resource Development, Inc.

The Illinois Small Business Development Center and Illinois Small Business Development Center International Trade Center is funded in part through a cooperative agreement with the U.S. Small Business Administration (SBA), the Illinois Department of Commerce & Economic Opportunity, and the Industrial Council of Nearwest Chicago (ICNC). Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Please contact the center at (312)433-2373 or (312)433-7656.